Listen to this episode below:
Andy fell into property by accident, after trying our multiple jobs that didn’t work for him. In this week’s property podcast, he explains how after 20 years as a successful chartered surveyor, he’s sure he has found his niche.
During that time he’s also been investing in property, and has built up a portfolio worth £1.5million that delivers a positive cashflow of £50,000 a year.
He left the job 3 and a half years ago to set up Urban Village Property Investments, which offers sourcing consultancy, and spends his time between this, joint venture projects, and Grace Kelly Churchill Property Ventures, which is another JV portfolio investment that focusses on larger developments and HMOs.
What’s Your Favourite Book?
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The Game of Life and How to Play It – Florence Scovel-Shinn
Andy and his JV partnership Grace Kelly Churchill Property Ventures have recently purchased 3 properties next to each other in Nottingham – a bungalow, a pub and a retail property with a house behind it. The bungalow and retail/house have been converted into HMOs, the pub will be converted into 8 flats, and the icing on the cake is the pub car park and the stables at the rear of the house.
The car park is large enough for 4 flats, and the stables will be converted into a further 4 flats!
As a joint venture with another investor, a property was bought that at the time had been split into two flats. Their plan was to split it further into three separate flats. Unfortunately, after completion, it was discovered that no building regulation approval had been given for an extension to the rear of the property, and the ground floor was still technically classed as commercial rather than residential.
Not the best start to a project, but Andy pro-actively contacted the local planning team and building control, and he’s been able to keep them on side by involving them in the development process. He’s still confident they’ll be able to deliver the project as planned.
Andy’s Links & Resources
uvpi.co.uk – Website for Urban Village Property Investments – Andy’s main investment business.