Home Real Estate Teenager richer by £2 M from property deal

Teenager richer by £2 M from property deal

by Jonathan Adams

Harvey Millington, 14, made it big after selling a three-acre block of land to a housing development company. He had bought the land for only £40,000.

In his first property deal bankrolled with his original windfall, the teenage businessman has pocketed £2 million. He made £100,000 selling road tax reminders.

Harvey’s budding business interests have been reported by The Mirror in May 2015 when, at the age of 13, he had set up one of Britain’s fastest growing businesses – selling reminder tax discs to jog forgetful driver’s memories. He was receiving up to 400 orders a day for paper discs, which remind motorists to renew their tax or MOT. After the rule changed the previous year, hundreds of people had found themselves unwittingly clamped for having an untaxed motor.

Harvey’s business was a big hit after just eight weeks of trading as he made a whopping £3,000 from selling the paper reminders at £4 a pop.

The Sun reports the teen used his profits to invest in a site he originally intended to use to launch a glamping site for upmarket campers.

But the teen from Taunton, Somerset, was quick to change his plans after he received a surprise off he could not run down after the developers had bought surrounding property and needed his land.

Harvey told The Sun, “The neighbouring farmers were happy to sell up and they now needed our land so they could start building”.

“I wasn’t sure how much they were going to offer for the land, but they came up with £2million.

“It’s a massive amount, especially for someone at my age.”

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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