Tuesday, 27 September 2016

Suffolk’s highest HNW revealed...

High net worth individuals – known by the acronymn HNWs – are coveted by those companies with something to sell in the retail, professional or financial services sectors, including property agents.

HNWs are not only attractive for their wealth but for the influence they wield in setting trends and the cultural values of our times.  It’s accepted in our consumer society that HNWs set a tone and lifestyle to which the rest of us non-HNWs are encouraged to admire and aspire.

How fortunate then are we in Suffolk that one of our most stellar HNWs is so off the scale that mere mortals cannot ever attain his lifestyle and achievements because it’s a horse!  He’s champion racehorse and super-stud stallion, Frankel.

Setting aside phenomenal achievements and earnings for Juddmonte Farms on the turf during Frankel’s illustrious racing career, in retirement the eight-and-a-half year old stallion is, indeed, a most coveted creature.

Worth around £12.5 million per annum, Frankel is Suffolk’s highest Horse NW. His fee at standing is circa £125,000 per mare and he’s covered about a 100 since his time at stud.  With intercontinental progeny winning races presently Frankel’s ‘performance’ fees can only rise next year –that’s without the anticipated achievements of his southern hemisphere offspring whose racing season is yet to play out.

Frankel puts the Horse in HNW when it comes to Suffolk. There’s fun in such flippancy and word play, but the influence of Newmarket in our county’s wealth and prominence on the global stage is seriously undeniable.  We all benefit from that, whether or not we consider ourselves of the “horsey-set”.

Newmarket is the home of the international horseracing industry. Without it, Suffolk would be the poorer both culturally and in cold, hard cash terms. Newmarket’s horseracing industry makes an economic contribution of £208m to the local economy and 8,500 jobs are linked to the industry in the area (source: Newmarket Horseracing Industry by SQW, September 2015).

Horseracing, as a sport, is second only to football in the UK. While Cheshire is home to Premier League footballers of both Manchester clubs in modern times, Suffolk has been home to the Sport of Kings since the 17th Century.

As the county hosting an über modern industry of global investment Suffolk commands a unique position.  Much like the revamped National Heritage Centre for Horseracing and Sporting Art that relaunched in Open Newmarket Weekend in the middle of this month, our heritage attracts attention.  Yet like Jilly Cooper’s latest novel “Mount!” - based on the racing and stud industry - Suffolk’s a best seller. And there’s something so amusingly typical of our county’s unique charm that our highest earner has four legs as opposed to two: fabulous Frankel – our highest Horsey Net Worth!

Caroline Edwards
Residential Sales, Long Melford

T: 01787 888622
E: caroline.edwards@carterjonas.co.uk

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