As 2023 draws to a close, it’s only fitting to take a moment to reflect on the whirlwind of property deals that have defined the year. These aren’t just any transactions; they’re the memorable ones—the ones that stand out for their unique challenges, strategic negotiations, and the invaluable lessons learned along the way. Join me on this journey as we delve into the top 10 most memorable property deals of the year.
1. The Freehold of 22 Broad Street
Purchase Price: £200,000 | Rental Income: £23,500 | Gross Yield: 11.75%
This deal was a long time in the making. Discovering that the freehold of 22 Broad Street was heading to auction after years of legal battles was infuriating. Quick thinking and a strategic negotiation led to a purchase price of £200,000, well below the conservative valuation of £260,000. The lesson? Persistence pays off in the world of property.
2. Letting a Unit in Arbery Arcade, Wantage
Rental Income: £8,568 per annum | Increase: 20%
Harriet’s tenacity shines in this deal, securing a significant 20% increase in rental income in a supposedly falling market. The key lesson here is to challenge market assumptions and test demand, ignoring naysayers when evidence supports a higher rental value.
3. The Freehold of Monmouth Street, Bath
Purchase Price: £480,000 | Rental Income: £36,000 pax | Gross Yield: 7.5%
Trusting instincts paid off in the purchase of Monmouth Street. Seven months from the first sighting to acquisition, this deal underscores the importance of trusting your gut in property investments.
4. New Road, Chippenham
Purchase Price: £270,000 | Potential Rental Income: £30,000
Accepting an offer at London Zoo during annual leave might seem unconventional, but it highlights the importance of seizing opportunities, even in unexpected moments.
5. Managing 12 Telephone Boxes in London
Marketing Power and Brand Visibility
Taking over the management of telephone boxes showcased the power of marketing and the importance of keeping your brand in the eyeline of potential clients. A valuable lesson in brand visibility leading to unexpected opportunities.
6. The Isle of Wight
Purchase Price: £625,000 | Rental Income: £96,100 pax | Gross Yield: 15.38%
Quick and discounted, the Isle of Wight deal emphasizes the need for thorough deal analysis. Analyze, discount risks, and negotiate based on a well-calculated offer.
7. Market Place, Newark
Purchase Price: £231,000 | Initial Rental Income: £18,000 pax
Navigating the complexities of SSAS registration showcased the importance of collaboration and communication in deals. Lessons include working closely with administrators and managing external factors like extended processing times.
8. 1st and 2nd Floor Temple Street, Aylesbury
5-Year Lease at £10,000 per annum
Leaning into property management, this deal was not just about financial gains but the excitement of seeing a property managed by the team. A milestone in expanding services and client relationships.
9. High Street, Barnstaple
New Lease at £15,000 pax with Index-Linked Reviews
Taking a chance on negotiating a new lease, this deal highlights the power of asking. In a market where rents hadn’t risen, a bold approach secured a favorable long-term arrangement.
10. Commercial Element of Queens Walk
Purchase Price: £700,000 | Rental Income: £86,000 pax
This deal was special because the client took the lead, showcasing the empowerment of investors. It exemplifies the goal of providing clients with the tools and knowledge to navigate deals confidently.
While these ten deals represent just a fraction of the year’s accomplishments, they encapsulate the essence of the challenges, victories, and continuous learning that define the dynamic world of property investment. As the year concludes, we extend our gratitude to our clients for allowing us to be part of their property journeys. Here’s to more exciting ventures in the coming year!
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