Our global vision:
We give priority to investments that require active management, with the aim of adding as much value to them as possible. In this sense, office buildings transformed into residential properties are a real opportunity.
We are investing and developing outside London to produce higher yields from development of properties with high potential for increase in value.
We benefit from changes in legislation
On 9 May 2013, the Government amended the 1995 law on property promotion permits (GPDO), authorising a change of status B1(a) (offices) to C3 (residential destination).
Our main area of work is therefore conversion of office buildings.
Our current geographical strategy is based on a simple observation. Prices in London are so high that they are driving the population to move out of the centre, a phenomenon that has already been noticed in other capitals and major population centres in Europe.
Source: Land Registry
A total of 1½ hours is required to cross London from West to East, and 36% of Londoners need more than 45 minutes to travel to their workplace. We make our purchases in the heart of the zone that offers the best price to m² / central London access time ratio. There are currently two determining factors in this:
- The price per m² 30 minutes South of London is much higher than the price 30 minutes North.
- Trains serving the towns on the Northern edge of London all travel to St Pancras, and the district around that area is developing at a great rate; 25,000 jobs will be created starting from 2015.
The town halls in the peripheral towns are very receptive to our ideas, our vision, and keen on encouraging our new housing development projects.
One particularly telling observation in this area is that more and more bankers willing to lend in the context of property development are exercising greater caution with projects in London itself, In contrast, more and more of them are becoming attracted by property projects on the edge of London.
Investors purchasing property with the aim of deriving income from tenants are also beginning to show more interest in the area immediately around London, where yields are higher than in Central London.
Source: Land Registry