Weekly Review #8 - Development Sites, Build Plots and Barn Conversions
Updated: Oct 12, 2020
ELLIOT JAMES PROPERTY - WEEKLY REVIEW #8 - Find out what deals we are working on
This week we have been working on: - Agricultural development site in Bolton
- Plot for a single dwelling in Macclesfield
- Barn with planning for conversion into 3 houses in Cheshire
We seem to be looking at a few rural/agricultural sites at the moment which present their own challenges especially in terms of working out sales values / sq ft with limited comparable data within the vicinity of the site. It's also interesting to see the planning treatment of different sites that are classified as 'open countryside' in different local authoritys as well as different areas within the same authority. For example, we've looked at two different open countryside sites in Cheshire East which are similar in nature but have received completely different planning treatment. One being allowed to convert an existing brick-built building to residential and some elements of new build and another being refused for any residential all together.
Sites/Buildings we are looking for: - Development sites/conversions for between 4 and 12 units with or without planning - Residential refurbishment opportunities We have clients looking for: - Multi-tenanted office buildings - Larger Development sites 100+ units - Apartment schemes / commercial conversions
- Apartment Blocks (Greater Manchester + other areas, vacant or tenants) - Industrial buildings - Buy to lets (Greater Manchester, 6.5%+ Gross Yield)
The particular requirements we are focusing on at the moment are the apartment blocks, these are for overseas investors and they are looking in:
Ideally looking for 6.5%+ yield, little or no refurb and tenanted or vacant. Sourcing fees paid of course.
We have also managed to set up our new investor sign up page, it's still a work in progress but we'd appreciate anybody who's interested in seeing our deals to sign up to the page (only partly because it's linked to our CRM and it makes a satisfying 'ping' when people join)