Updating post from Reddit.
Anyone heard or had dealings with this company?
They are selling a property near me where an old chap died recently it was curious that they are mentioned as the sellers.
It looks to me like they're a company that buys regulated tenancy properties (i.e., non-AST tenants that are nigh impossible to evict). They buy them at below market rate because you can't really evict the tenants. They hold the property until the tenant dies. Then they sell it at the market rate gaining back their initial discount plus all the capital appreciation.
That or a reverse mortgage company, but that seems more of an American thing.
Not sure on company but this sounds like one of those equity release schemes where they buy out your property but rent it back to you for the rest of your life. If you live long term then they have to wait a long term to sell but hope the price has gone up loads.
This was very popular around the financial crash which is where I started to see it more.
Yeah maybe !
wow, its being going since 1937 and has 79m in revenue.
>We are a property trding company that buys tenant properties at a discount to estimated vacant possession value and then sells them when they become vacant.
They have over 1,836 Regulated Tenancies and 1,132 freehold/leasehold units and a few life tenancies & asts.
Mad!
I might buy some shares, thanks for this. lol