Posted: 23/09/2013 at 08:31
This is Davidia involucrata, the Handkerchief Tree. It's a georgeous tree but it does take a while before you can enjoy it's flowers ( which look like small handkerchiefs), about ten years!!
If you want to keep the tree it would be advisable to move it from that spot because it will eventually reach to 12 m/ 38 ft. You can, of course, keep it at the height it is now, but in that case you'll hardly get any flowers at all. If you wish to move it, you can do so after the leaves have fallen but make sure that there's a rootball of about 50 cm in diameter, otherwise the roots might possibly dry out.