Our Approach
Our Investment Approach
We assess each property carefully, understand the risks and stay involved in the work needed to improve it.
Investment philosophy
The investment case must be clear
A headline yield is not enough. We need evidence that a property is mispriced, poorly managed or capable of improvement, and a realistic plan for what happens next.
Finding opportunities
Relationships open doors. Assessment comes next.
Landowners, agents, funders, contractors and operators introduce us to opportunities, often before they are widely available.
We aim to respond promptly, but every opportunity still needs a thorough investment assessment.
Underwriting principles
Every opportunity is assessed against four questions
1. Is there demand in this location? We look at population, employment, universities, transport, rental demand and the market for a future sale.
2. How can the property be improved? We identify the work required, whether that means planning changes, refurbishment, a new use, better management or funding.
3. Can the scheme be delivered? We review planning, construction costs, the timetable, the project team and the funding arrangements.
4. Is there a realistic exit? We assess who might buy the property, whether refinancing is viable, its income and the likely market conditions.
Risk management
Understanding the risks
We review the site and legal title, planning position, costs, timetable and funding. We compare similar properties and test how the investment might perform if circumstances change.
We prefer opportunities where the risks are identifiable, manageable and priced into the investment case.
Delivery
Keeping the project on track
We coordinate the planners, designers, cost consultants, contractors, legal advisers, funders and property managers involved in each project.
We keep investors informed and monitor progress, quality and costs throughout the work.