Ernest Tsui Architects + Partners (ETA + Partners Ltd) has won awards for its work in the high end residential and development markets. We have successfully completed projects for both domestic and international clients. So we want to talk about your property aspirations!
We are seeing the trend to develop happening more, whether it is for investment, necessity or for the ultimate dream home. We offer a free 1st hour consultation and if you quote BLOG10% you can gain 10% off our usual professional fees which is the perfect start to realising your million pound property development ambitions.
So here are 7 gems to potentially seeing those magnificent 7 figures:
1. Selecting your professional team and being professional
Join a property development course or visit some seminars. A support network will encourage and inform best practices to move forward and find finance. Get an Architect to advise on design and construction methods plus they can also help you with liaising with consultants. These will include Quantity Surveyors for costings, Contractors/Builders to price and build, Approved Inspectors/ Party Wall Surveyors to help fulfil building regulations and obligations to neighbouring properties. This is a great way to get discussions underway and relationships established that will ultimately lead to a successful project.
2. Designing your scheme
Have fun, this is a creative venture that yields strong returns. So your style choices, the designers and concepts you use will define your brand and profit margins too. Look at other properties in the market as inspiration and researcher suppliers. The bottom line is just as much about your taste and choices… magnolia walls may appear a safe bet but may not differentiate you in the market.
3. The Process
Secure finance – Get designing – Secure Planning, Building Regulations and the team to build it – Build it – Sell it and proceed to the next project. Simple once you have the right experience and professional team.
4. Imagine the potential
Take a 3 project property portfolio (a Flat refurbishment, 2 houses to Flats conversion and an industrial building demolition to create apartments), over a 5 year period. Bought at £7.7m can sell for £17.3m. Consider this: After Professional fees of £600K plus a construction cost of £3.35m plus the 7.7m purchase price will generate £5.64 million.
5. The real deal
Only 5.1% of an, £11.7m, investment is spent on a team of professional who help you to generate profit.
6. Luxury doesn’t have to cost.
By working alongside a professional team, you will find that a lot of research and groundwork is in place. This can help you achieve an extremely marketable high end look. We know cost effective luxury and it is obtainable on most budgets.
7. In conclusion – It doesn’t have to end there!
The simple beauty of this process is that with the team in place and your growing experience, you will continue to expand your property portfolio and make profit over successive projects. So what is stopping you? Start the conversation with us!