As you may have heard in recent news, or through the engine revving amongst the streets of London, the ‘Millionaire Boy Racers’ are back over from Saudi Arabia for the summer, bringing along their various supercars!
You may have seen the documentary last summer on Channel 4 about the Millionaire Boy Racers, and they’re back again this year, like every year, bringing all the supercars they can possibly park! The best and most expensive car brands have recently been shown off all over London, including brands such as Porsche, McLaren, Lamborghini, Ferrari, as well as a few Rolls Royce’s!
Although some homeowners in the Knightsbridge/Chelsea area have complained about the iconic F1 sounding noise and the revving engines around the streets of London, most seem to be enjoying the sights, stopping and taking pictures with the Saudi crew, or just their cars! It’s not very often you get to see a heard of expensive supercars around the city!
Local residents are trying all they can to ban the drivers from the area and backstreets of London, creating petitions and flyers, along with media coverage, and government/council backing. But with the racers continuously visiting each year, some of the residents are starting to circum to the situation, whilst others feel as though they are being driven out of their neighbourhood.
The millionaire racers have been visiting London for several decades now, since the early 1970’s, with some racers having their fathers and forefathers visiting for up to 4 generations! The racers that visit London for their holiday each year generate over £3 billion in the summer season alone by simply staying in the high end hotels, splashing the cash in all the designer stores, and parking their supercars across the streets of London, attracting tourists by the hundreds.
Although the noise may be unbearable for residents, the fame and money produced by the Middle Eastern racers, generates nearly a quarter of Britain’s money each year, let alone the rest generated by Middle Eastern tourists. On nights out in the club scene, one racer is bound to spend a £40,000 – £50,000 budget minimum! Baring the amount of racers that visit, times the three months that they’re here, the sum easily amounts up! The majority of racers also own homes across the Kensington/Chelsea area, some to which cost a staggering £10 million! The homes are only used for gatherings with friends for the 3 months a year, but with the noise from the cars, more and more residents are moving out, leaving more houses for the millionaire boys to buy!
The only danger of the Millionaire racers is that some hold incorrect licence plates, and no insurance documentation. Being treated the same as a UK driver, the cars are imported and I fine is issued. Although this isn’t a massive problem to the Middle Eastern millionaires, safety is a first and foremost on the roads, especially for the British public.
Our Friends over at Tollgate Private Clients specialise in offering a bespoke, tailored service to those looking for temporary insurance for high-value vehicles, such as the supercars, here in the UK. As a part of the Grove & Dean group, a family-run business for 40 years, they not only have wealth of knowledge but great industry understanding established, but a key lesson has been learned, that the foundations to a successful business are trusted relationships.
In recent light it has been difficult for individuals to find temporary insurance here in the UK, with some individuals being pulled over by police officers, regarding relevant documentation. Tollgate Private Clients make temporary and European Cover a far easier process, tailoring the policies to suit the individual and their vehicle.
Vehicles need to have legally acceptable plates and a UK address will be a requirement. Track days, Racing, Rallying etc. are excluded. For further enquiries and to take full advantage of this unique policy contact:
Dave Goodman on: 01708 436 838 or 07500 702 749.
Visit: www.tollgateprivateclients.co.uk for more.
For more articles like this, receive our weekly e-newsletter, including partner deals and all things motoring, register your email below.