The streets of London are ‘paved with gold’, at least that is what the 19th century fable about Dick Whittington and his cat portrays. Many Londoners who have owned property in the Capital and seen the value of their assets increase substantially in recent years would happily concur.
Various data sources going back over decades clearly underline the value of holding London property as an investment. One such individual is the Wiltshire based investor Ronnie Gleeson who has steadily built up a good-sized rental portfolio himself and who has benefited very well from his foresight. I talked with him recently about the London market and what he is currently doing with his new venture Thames Property Nest Eggs (TPNE).
Ronnie’s route to founding TPNE was preceded by some 25 years of working with troubled and abused teenagers (as a head-teacher). He then went into the music business in support of his son`s career. And along the way he created a significant property investment portfolio of 65 properties which led to the establishment in January 2012 of Thames Property Management, a London based lettings service for landlords.
Ronnie explains the TPNE concept and the rationale behind it. “I have an extensive network around London and hear about off-market deals so as I cannot do them all myself I have set up TPNE to allow small groups of individuals to benefit from investing in Greater London property. We are buying re-possession/pre-auction properties within the M25, in regeneration areas, and that have refurbishment potential. Unlike some we stay well away from the Prime central sector and focus on the more affordable parts of Greater London and with a particular focus on locations near to the new Crossrail (Elizabeth) rail line.”