Deal Talk #1

When reviewing the deals we have completed over the years it wasn’t the largest, the flashiest, or the most difficult that we started with. In the spirit of a campaign we are running to enable us to collaborate with property professionals we started by reflecting on the 9 case studies that are placed on our website. Of those 9 we tracked back the original source of the introduction for each of those projects and 6 of the 9 were from property professionals, possibly just like yourself. We have found that over the years we have achieved good success following face to face meetings which result in our company being recommended to represent clients. 

Our aim with this campaign is to to build something together with other property professionals, helping all those SME builders achieve their dreams. #getreadytogrow

There was a period between 2011 and 2016 when our brokerage found the number of developments we were involved with that had previously been pubs was ovewhelming.

This was one such case. A pub in in the London Borough of Richmond Upon Thames that had hit on hard times and had been under trading for a number of years. The land was granted planning permission to demolish the pub and erect 9 apartments with underground parking. 

Fast forward to today and we find ourselves in an even harder trading environment and we rather suspect public houses will once again be a target for change of use.

We recognise operating a public house however is not just about margins they offer a community service, bringing people together to celebrate and relax which is of paramount importance. We also recognise that as a business they have to be viable to continue trading and with a large number of those public houses being on the UK's high street I think we are all recognising there will be some sweeping changes to our high streets over the coming years. Depending on the location of those public houses they may be better suited to provide a retirement home, or a mix of private and affordable housing.

This client is now an established partner in our business having concluded 17 deals together, and was introduced to us in 2010 by a quantity surveyor (thank you Mark). Our funding has helped be a cog in delivering almost 100 homes across those schemes. Along with bricklayers, lawyers, electricians, quantity surveyors, etc.... funding is just one piece of the jigsaw to take the piece of paper with a planning approval on it through to someone living in one of those homes.  

This deal had a Gross Development Value (GDV) of ￡5,215,000 and delivered 9 beautiful homes. The owners in those homes won’t know the half of the issues faced before they purchased, but a small list would include, problems with the ground works, delays with the timeline delivery of the site, a gas pipe found that wasn't found on searches before the purchase, we could go on. 

All the owners need to know is that they have a beautiful home that we hope will bring years of joy and security in a safe and healthy location.