November 25th, 2015.
Lord Sugar’s Best Advice? Invest in Property
Lord Alan Sugar may be the king of popular TV show The Apprentice where he invests in innovative start-up companies; however, according to the 2014 winner, Mark Wright, Lord Sugar advises entrepreneurs to invest in property instead.
Let’s find out why:
Invest in Property Like a Billionaire
Lord Alan Sugar is self-made and therefore, knows what it’s like to live with and without money. As a result, he focuses on making decisions that emphasise long-term wealth, rather than short-term fixes. And according to The Apprentice 2014 winner, Mark Wright, Lord Alan Sugar advises to invest in property to achieve this.
Wright told The Telegraph:
“Lord Sugar said you make money from property and do business for fun. Many of our customers make money from property and I’d love to go into property development one day,”
Wright’s company, Climb Online, has two offices in the City, which house his 20 staff. He told the publication that when it came to finding a premises, Lord Sugar taught him to negotiate hot desking deals rather than buying an office outright. Wright was not prepared to set up a business elsewhere in the UK.
“The high rents are why people don’t have success in the first couple of years. The cost per square foot in London is unaffordable for small businesses. It would have cost us £160,000 a year to rent an office in central London,” he said.
Read more: The Apprentice 2015 So Far: Our Thoughts
Despite not being known for his property deals, Lord Sugar practises what he preaches. His property company, Amsprop, sold its Sugar Building next to St. Paul’s in September 2015 for £80 million, which made him £50 million.
In June, the company sold part of the freehold on its former Burberry HQ Haymarket property and made a £30 million profit without an outright sale.
Amsprop, which is run by Lord Sugar’s son Daniel, is also said to own a number of Mayfair apartments – estimated at between £7 million and £10 million each – a mansion and Turkish restaurant in Chigwell, Essex, besides a number of luxury cars and private jets.
We Agree with Lord Sugar
As experienced commercial finance brokers it is our job to find great finance deals for our clients, many of which are for the purpose of purchasing commercial or residential property. Whether it’s commercial mortgages, bridging loans or development finance, we help make our clients’ property dreams a reality.
And although we do not advise them how to spend their money, we have seen many clients achieve great success from such investments and predict this is likely to continue. According to the statistics portal, Statista, by the end of 2015, worldwide commercial property investment will reach £433 billion and by 2017 it will have breached the £500 billion mark.
If you dream of one day owning a property portfolio like Lord Alan Sugar and would like to discuss your finance options, we’re here for you. Arrange a meeting by calling 02920 766 565.