Labour Assembly Member Onkar Sahota defended himself and his 11 properties at the CCA Hustings last week by saying that he had “worked hard to get them”. I am sure he did, or at least his tenants did.
— JonBall (@JonBall) April 19, 2016
Dr Sahota didn’t take the opportunity to own up to having any more houses. Maybe he has more, who knows? He certainly isn’t telling.
I found Sahota’s properties in the course of my research into his business. As I explained earlier this month he could have made a transparent declaration of his extensive property portfolio, as his Labour colleague Len Duvall has, in his disclosure pecuniary interests at City Hall. But that really isn’t his style. He actively lied to Hanwell parents at St Mark’s Primary School about his ownership of the land next to their school.
I don’t want to list the 8 addresses covering 11 properties that Sahota owns but just to show that I have paid for the 8 Land Registry titles that cover these properties I list the Land Registry title numbers below.
Dr Sahota owns four private houses in Ealing (NGL255900), Cranford (NGL218163), Isleworth (AGL27751) and Southall (MX82170). Looking at these houses and adjacent ones on zoopla.co.uk I estimate that these four houses together are worth £4 million.
According to reports from InvestorsLendingLLC.com, Dr Sahota personally owns a 100% stake in Investments 360 Limited which owns the two buildings that his business operates out of (AGL122490 and NGL35037). According to the accounts of Healthcare 360, which again Sahota owns 100%, the company pays £105K per annum rent. Working back from a commercial yield of 6% for this kind of property implies a value of £1.75 million.
– Related post: Find a space to rent for a retail business in Austin.
Dr Sahota has previously tried to get “offers in excess of £1,000,000” for his D1 property at 42 Lower Boston Road (AGL153372) rather than sell it to the council so that they can expand St Mark’s Primary School. He bought this for £730K in May 2006. It is probably worth £1 million but he is gunning for much more if he can get planning permission for change of use. Anyway it certainly is worth £1 million now.
Finally, Dr Sahota owns four flats in Southall (NGL550500) designated as a House in Multiple Occupation (HMO). It is hard to value these as they don’t change hands much and they are probably very small, poorly maintained flats above shops on a busy road. But all four can’t be worth less than £500K.
Taken together Onkar Sahota’s property portfolio is worth at least £7 million.
Earlier this month Onkar Sahota gave the Gazette a dull biography that he has used before and listed five priorities:
It is no use Sadiq Khan and Onkar Sahota burbling on about housing if people like Sahota are going to hoard property on such a grand scale.