Upstairs downstairs: why UHNWIs are investing in historic homes and estates

If, like me, you became thoroughly hooked on Guy Ritchie’s Netflix series The Gentleman, you might since have found yourself browsing Rightmove in search of a country pile of your own.

Unlike me, you might be in a position where you can afford to purchase a historic estate to call home, and if you are, you’re not alone.

Over the past few years, many country estates have been changing hands, with UHNIWs snapping up some truly illustrious properties.

This includes Adlington Hall, which lies within Cheshire’s Golden Triangle. The 1,921-acre estate hit the market in September 2022 for the first time in 700 years at a guide price of £30m. It sold a year later to a long-term investor.

But these once-in-a-generation purchases are not without their headaches.

Not only do UHNWIs and investors need to raise the capital required to purchase these properties, but they also often have to do so at short notice.

Properties can come to the market at any time and despite the staggering price tags attached, competition to secure the purchase can be fierce.

Then, of course, there is the refurbishment and renovation work that often needs to be carried out. In both instances, bridging loans are the ideal solution.

Why? Because they provide access to significant capital quickly, allowing UHNWIs and investors to proceed with a purchase when the opportunity presents itself.

Bridging loans can also be used to create a capex facility to undertake refurbishments and improvements, with the loan secured against the property.

And it goes without saying that bridging loans are a much better way of purchasing a property than running a cannabis operation from your new country pile.

- Mike Jones – Chief Sales Officer

Tenn is one of only a few short-term loan providers that offer funding internationally. So with that in mind, this week’s Ten from Tenn takes a closer look at the top cities where UHNWIs and HNWIs currently reside:

1. New York City – The top city for wealthy people with over 349,500 high net worth individuals calling it home. New York’s status as a global financial hub attracts those seeking high paying jobs, as does the incredible real estate.
2. The Bay Area (San Francisco) - The tech hub of San Francisco and Silicon Valley is home to 305,700 HNWIs and the Bay Area itself has more billionaires than any other city in the world.
3. Tokyo - The third wealthiest city in the world with 298,300 HNWIs residing there.
4. Singapore - Home to 244,800 HNWIs and one of the most expensive places to live not only in Asia but the world.
5. London - The fifth wealthiest city in the world with 227,000 HNWIs and some truly spectacular super prime real estate to choose from.
6. Los Angeles - Home to 212,100 HNWIs drawn to the city thanks to its wonderful climate, luxury shopping, beaches, mountains and epic real estate.
7. Paris - Home to 165,000 HNWIs who just can’t get enough of the city of love with its charming atmosphere, cafes and stunning apartments.
8. Sydney - There are more than 147,000 HNWIs that live in the capital of New South Wales with Bondi Beach a major draw for those who enjoy a spot of surfing at the weekend.
9. Hong Kong - Home to 143,400 HNWIs and one of the busiest super prime property markets in Asia.
10. Beijing - China’s capital city is where more than 125,600 HNWIs live and one of the most popular investment destinations for the Chinese.

Find out more here.

Tenn’s Senior Operations Manager, Declan Granville, has recently returned to Guernsey from Australia and these are his reading, watching and listening top picks:

1. Reading: The Man Who Knew – The Life & Times of Alan Greenspan. It presents the life story of the former Chairman of the Federal Reserve.
2. Watching: I’ve really gotten into The Boys which follows a bunch of rogue super heroes that have started to abuse their powers.
3. Listening: I’ve been hitting the country music hard and loud this week, including a bit of Beyonce.

Before you go...

If you haven’t already, please do follow us on LinkedIn and if you’d like to hear more from me, connect with me directly, Michael Jones .