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Category: Property market

The man behind the highly successful price comparison website moneysupermarket.com has decided to sell up, but he has chosen not to use an online agency.

Instead the .com millionaire has chosen prestigious high street agent Strutt & Parker to sell his five bedroom house in Chester town centre.

Perhaps the most surprising fact though is that he stands to lose money on his house. Not perhaps the shrewdest move for such a successful businessman, but he justifies it by saying in an interview with the Sunday Times

“I may be out of pocket, but what I have lost in monetary terms, I have more than made up for in pleasure from this house”

The property is on the market for £1.65m, but although he is believed to have paid £1.24m for it in 20013 he is thought to have spent around £600,000 on renovations and improvements – meaning he will lose money even if it gets the full asking price.

Said to be on the lookout for the next Google or Facebook (aren’t we all?), it seems unlikely that Mr Nixon will get involved in online estate agency given his decision to sell using a traditional agent.

According to the Sunday Times, the internet tycoon decided to sell having not been able to use the house as much as he would like, even though it is close to Chester city centre and the headquarters of MoneySupermarket.com. He has at least four other properties including a house in Jersey, a £39m flat in Knightsbridge, and a lake house in Windermere.

Mr Nixon had previously spoken to the local paper, The Chronicle, prior to his purchase of his Jersey house, saying that he was considering moving abroad because the British weather had been so poor, after the particularly wet summer of 2012.

“For a long time I have wanted to spend more time in a climate where the weather is better. The whole point of having financial independence is to enhance your standard of living.”

However there is a financial incentive to move away from the mainland as he commented later in the interview:

“Don’t get me wrong, if I could combine a higher standard of living with lower tax that would be an advantage,” added Mr Nixon.

Perhaps that is why the prospect of losing a few thousand on the Chester Home doesn’t seem so bad. The Sunday Times Rich List 2014 put Nixon’s worth at a healthy £810m, placing him at position 123 in the UK.


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