“Also they are asking five million pounds sterling.”
Price kept looking at me like I had two heads. I gave in and told him that it helped to be filthy rich. We chatted on for about fifteen minutes when his phone rang. It was Jackson Enterprises wanting to make a formal offer as per my instructions. They also got instructions from him as to where to wire the good faith money. He made it simple by having sent it to the Royal Bank of Scotland.
He took down all the pertinent information, from there we walked around the corner to the Bank. Since he was well known at the bank we were able to get in immediately. The bank manager got a huge smile when he was told an offer was being made on Farmington Hall. Apparently, it was an albatross hanging on the bank's books.
The Manager asked what the plans were for the Hall. I explained that it was to be used as housing for military students attending Oxford. The housing allowance they were given only let them live in hovels and my orders were to arrange for better housing.
You could see wheels turning in his head.
“Do you mind if I ask how you see the finances working.”
“Not at all, each student is allowed the equivalent of two hundred pounds a month for housing. The lowest cost of housing in Oxford is around a thousand pounds a month. That means five students have to share a room only meant for two.”
“I know there are at least two hundred students from the military in attendance. Two hundred pounds from each of them equals forty thousand pounds a month.”
To get him in the right frame of mind, I used the price of four million pounds for my math.
“Over thirty years at five percent interest it would work out to about six million to be paid back or two hundred thousand a year. That leaves comfortable room for operating expenses.”
“You realize that this will upset the housing market in town.”
“Their problem, not mine If they weren’t gouging I wouldn’t have to do this.”
“Exactly, why do you have to do this?”
I shared a copy of my orders. They got his attention.
“According to this, you are working for the Crown, directly to the Queen.”
“I would hate to disappoint Her Majesty.”
Hey, use every tool in the toolbox.
A young lady brought a note in and handed it to the Bank Manager.
“I see a deposit of two hundred thousand pounds has been made.”
Price took the lead at this point, “As you can see the offer is four million pounds.”
“I don’t have the authority to sell at that price. The best I could go to is four point eight.”
“Who has the authority?”
“That would be the Regional Manager.”
“Could you please inquire with him?”
“He may not be available and these things take time.”
At that point I had to interject, “Time is one thing you do not have, I realize that this possible sale will upset the local housing market and thus you have valuable information which you undoubtedly would like to capitalize on. I’m not giving you that time, as it will probably have ill effects on my fellow military.”
I must say he had nerves of steel as he didn’t look like he was going to back down.
“May I use your phone?”
“Who would you be calling?”
“The Chancellor of the Exchequer to have him call your head office.”
“That won’t be necessary. I will see if I can reach the Regional Manager.”
“Thank you.”
I wonder who the Chancellor of the Exchequer is, and how he fits into the banking scheme of things. You don’t need nerves of steel when you are an actor, you just have to play the role.
It only took a few minutes for the Manager to contact the Regional Office and get his Manager on line. The Regional Manager came in with a counteroffer of four point two million. I told them I would take it. As I had learned long ago, leave some meat on the bone.
“My part here is done, my head office in the US will handle the rest of the transaction.”
From there Price and I returned to his office where I called my office and gave the terms of the deal and told them to proceed.
He had a dazed look on his face. For a brief afternoons work, he had made a five percent commission which was two hundred ten thousand pounds. I suspected that it was equal to their entire office income for the year. His Dad came out and took one look at his son and asked what was wrong. Price told him what was right.
All his Dad could say was, “I never, I never.”
I started to stand up but had another thought.
“I need to buy at least a dozen houses, preferably in the same estate area. Would you know of any.”
I think Dad was in danger of a heart attack. He worked his mouth a couple of times, “Price what about the Waterman Estates, it will have thirty units when completed but they have finished fifteen of them.”
“They would be good they have all the modern cons. There are two and three-bedroom models so they have something for most families.”
“How far are they? Have any of them sold yet?” I asked.
“Only a fifteen-minute drive and no, they are planning on opening sales next week.”
“Fine, let's check them out”
This was moving like a freight train!
The houses were every bit as nice as I had been told. They were in the process of furnishing the demonstration/sales unit when we arrived. The pricing was such that the same thirty-year payout would hold. So I called Jim Williamson back and told
