Step into a world where history and luxury intertwine at Meadow Mill, Stockport – a breathtaking 19th-century mill that’s been meticulously transformed into a collection of high-specification luxury apartments in Greater Manchester.
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Interested? Contact us today to learn more about this exclusive opportunity. https://holbornpropertyinvestments.com/webinar/new-launch-meadow-mill-stockport-manchester/?utm_source=Webinar&utm_medium=YouTube&utm_campaign=Property
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With this one-off opportunity to purchase in the final phase, you’re not just buying an apartment; you’re investing in a lifestyle defined by elegance and convenience.
Why choose Meadow Mill?
– Affordable luxury: prices starting from an unbeatable £150,000.
– Historical charm meets modern elegance: experience living spaces where the mill’s rich history blends perfectly with contemporary finishes, offering 1, 2, and 3-bedroom apartments.
– Great location: just one train stop away from Manchester city centre, Meadow Mill is perfectly positioned for easy access to work, leisure, and entertainment. Plus, with over 170 car parking spaces, secure bicycle storage, and a nearby bus stop, your commute and travel are as seamless as possible.
– Investment opportunity: with properties renting out within 72 hours on average and projected rental yields of 6.%+, Meadow Mill represents a sound investment in a high-demand area.
– Live in convenience and style: situated close to major retail, entertainment and leisure destinations, the development boasts brilliant transport connectivity, making every aspect of city living accessible.
Don’t miss this exceptional chance to be part of Meadow Mill’s legacy. With its prime location, strong rental demand and a vibrant community, this is your opportunity to own a piece of Manchester’s history while enjoying the perks of modern living.
Explore the final phase of Meadow Mill today and discover how you can make one of these exquisite apartments your new home or investment. Availability is limited – secure your interest now and join the Meadow Mill community!
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so welcome everybody thank you very much for jumping on got a great show lined up we obviously got Pete who walks the bricks and he’s always got his finger on his Nimbus uh we’ve got David from Fraser who is an expert he’s born and bred in Manchester he knows it very well and we’ve got Tony now I’m really particularly interested and and there a first for us Tony’s actually Pro in project management so please get your questions in at the bottom of the screen if you got any questions relating to project management and how it all fits together so we do these every so often we invite mortgage brokers on developers on uh companies that set up companies to put your properties on so we’re going to have a really good show today we’re looking at Manchester David welcome welcome to the show and first of all Pete let’s have it here where have you been what have you been doing in your Ford Anglia yeah been doing some traveling it’s really interesting the um the whole of the Northwest is still showing um really good signs of growth not just Manchester um I will just hasten to add uh Preston is showing really good um activity um and that’s something we’ll talk about very soon hopefully um the market has changed in our favor there’s no two ways about it we’re seeing increased levels of activity um we’re seeing a lot more um wealth managers understand in that the the fundamentals have gone in our favor in other words we can expect to see the interest rates drop indeed they already have um the big six uh mortgage companies have second guessed that uh We’ve now reached the the the maximum we’re now on a slide and they keep on dropping the rates irrespective of the bank of England who are in my opinion rather slow Off the Mark so that’s all good news we are seeing mortgage rates now uh acceptable levels so when we’re doing the um Financial illustrations they’re now looking a lot more sens ible um the one thing I would say to you and I’m sure that Tony will back me up on this there’s not a great deal of finished stock out there the big opportunity you lucky people have got is very much that Tony has delivered finished stock and only because a an individual client decided not to go ahead on a bulk purchase have we got this opportunity please don’t think we’re being salesy when we say do not miss out on this opportunity we’ve we’ve got to understand that once these units are gone I know of no other stock that’s currently ready live uh that you can purchase at these levels so it is entry level stock good location and um o over to you perhaps just for a second Tony because let me just give a a couple of words Tony’s lived with this project for six years so he’s he’s one of the parents of it really and his children are all ready to be sold um um so over to you Tony that’s a very good analogy actually Pete and it’s one that I refer to when I talk about some of my projects it’s like giving birth and then raising children through the most difficult years the early years so my name is Tony Connor I’m the head of development and projects at AA investment um I’m not only the development manager but also the construction manager for this particular project um I’ve been in uh construction and project management for 35 years is this was our second uh project that we purchased in um Manchester back in 2018 uh went through the um uh issues to deal with de Legacy when you when you’re buying any any property that’s 140 years old there and it’s had multiple different uses over the time but the the standout for this particular property was that it’s an absolute landmark building the frontage is 130 M long I’ve done a lot of skyscrapers in the Middle East over the years is and I I always refer to it as like a skyscraper on its side because it’s got It’s so beautiful it’s got all of those Heritage um um uh aspects about it that you hope for we’ve got a community space just off of the main reception which is 12 M high and old money that’s about 36 37 feet high that’s given over to the community as a community hub for people to be able to come together and utilize the space there and to be able to do um some work from there to be able to to to to meet with other um members of the community that’s it that is um me m we anticipate there’ll be somewhere between 500 to 600 residents there uh once it’s fully occupied um at the moment we’re we’re about um uh 60% occupied there with the completions that have happened so far um rental has been uh very robust um we had one um bulk buy complete on their units just last um Thursday so a week ago just over a week ago and the agent that they employed had rented um uh 65% of those properties before they they’d actually completed on them so we have those people being moved in and they’re completing on the other rentals now so there’s no void space here it’s a it’s a highly attractive rental product you’ve got three and a half meter high ceilings in all of the apartments all of those brick features that people want to see from a Heritage product all mixed in with all the modern fixtures and fittings that we go with there we’re a j and hands grow dealer in the Middle East so we only put really quality sanary products in sry wear products into our projects we’re a um we’ve been dealing with the same Italian manufactured kitchen company for over 20 years so all the kitchens came direct from Italy all pre-assembled and were installed by local joiners so um the product is very high everybody is is made up whenever they go in and look at the apartments and and like I say and that that’s driving really strong rentals thanks thanks a lot that’s good I just say i’ done a little bit of work on the rentals last night it’s really interesting that um you know when you look at Stockport it’s um in my opinion it’s it’s better than some of the inner areas of of inner Manchester and I done some work on Nimbus last night a couple of the areas um and I’m not going to mention exactly where but a couple of the areas are Shide of being overpriced and and and becoming slightly unloved and I think what stock port’s got going for it is and I’m sure so you you um um Tony will have backed me up on this is it so close to the stations you got um Stockport station only a mile away Heaton um Heaton uh station only 1.2 miles away you’re literally less than 400 yards away from being a to jump on the M60 into Manchester and it’s sort of seven miles as a crow flies into Manchester it’s not long and natur fact people quite like having a 10 15 minute journey into work because they sort of prepare themselves as they go in rather than being right on the doorstep and one or two of the projects that are um in my opinion have been oversold in inner Manchester are not as good as this so although it might be an entry point level personally I think it’s more assured on the potential Capital Growth over the next five or six years and as we always say property is a medium-term investment it’s not a get-rich quit scheme sorry for bu no that’s those are all really good um um uh anecdotes for that particular uh property as well Pete but we’ve got um again we’ve seen near nearly a 20% growth in capital value of those properties in the in the three years since we started the the construction there so uh that’s that’s been really positive and that’s grown year on year why did we buy in Stockport um you know at the time it was um uh just been um allocated a billion pounds in in Government funding for regeneration of of the city itself and I would say that they spent probably at least five or 600 million of that in the last three years since we’ve been uh fully in the construction cycle with Meadow Mill we’ve got um great transport links into Manchester as you said is that actually there’s a there’s a a mandate that goes back to the 1800s that every train that goes to Manchester Picadilly has to stop in Stockport so it’s it’s not like um when you go to London you know get different train stops on on the journey to shorten the journey every every every train has to stop in Stockport before it arrives at Manchester and vice versa on the way out it’s something to do with the historic biod duct that they built there to to to facilitate that um we have the largest Tesco uh in the region Tesco extra they call them um opposite our site and um so shopping is right on your doorstep but the good thing about that is that there’s also a free bus that goes from there between 7:00 a.m. and 7:00 p.m. uh every day that goes from there to the town center to the to the new interchange that’s just opened there and um uh that uh that gets people to the station in a couple of minutes if they don’t want the walk you know through the retail and through up past the the marketplace and the underbank which are all again really well um resourced with independent Traders independent Foodies it’s a great foodie place if you like your food to go and visit as well just the 10-minute walk from from Meadow Mill we’ve got reddish which is the largest country reddish Veil which is the largest country Park in the region across the street from us you can literally walk out of your out of your apartment across the street and you’ve got 10 kilometers of open land there so if you like a jog or a run or or a dog walk or anything like that then those things are right on your doorstep you don’t have to travel to to get to those as well so uh Leisure wise uh that’s coming forward um one of the commercial units downstairs looks like it’s going to go to a to to a restaurant bar concept independent again uh really strong um uh uh numbers from that particular business that that are going to come in OCC there is a health warning Tony it is less than 200 yards away from a Gregs so if you if you’re a bit of a p monster it could be dangerous well the inside that because it’s the largest Tesco extra in in the region you get a lot of the concessions in there as well so so yeah GRE Greg’s been Greg’s being one of them but you’ve also got the dry cleaners you’ve got the the shoe repair guy the key guy the the chemist the all of those things as well part of the Tesco extra and they’re right there on the doorstep that I mean I got to say it’s for me very impressive um it was interesting because somebody somebody um in a high position within hogw so it looks a little bit like a prison I said well no I don’t think it does look like a prison I think if you’ve got a Heritage building if you look at some of the modern blocks the square blocks that so many developers are now building to me they’re going to be the prisons of the future I actually think that the character inside these buildings is is really worth saving so you get a bit of a heart and a soul with these buildings some of these modern buildings in my opinion are soulless so you know this is going to stay in the test of time it’s going to be a great property um it’s got um very strong yields and just to flick on to the yields for a second we saw 11.1% uh yield increase last year we’re anticipating to see a 7% Circa 7% yield increase this year it will then tail off a little bit it can’t carry on growing like that but what you’re then going to see is that the cap values will increase slightly because because as the mortgage rates come down the the it was interesting I was reading property week last night because I don’t have a life and um they’re saying that the yields are sharpening because the market is out there buying yield at the moment they know yields are going to uh contract purely because there’s not a great deal of stock the mortgage rates are going to come down so therefore we will be able to afford to have a lower yield and the and the yields are pretty strong in this location so it’s got the fundamentals in the right place and to me you’ve got to have a bit of all of the fundamentals but you can’t have the penny in the bun you can’t continually have increase in um rents and continual uh increases in Capital Growth it tends to be either a blend of the two or one’s outperforming the other but you can’t have them all I I would agree with you there Pete I just add one caveat though that um as I say because of the geographic location location location we talk about that a lot obviously on property we um we because of the the high demand because of the growth in Stockport itself it it’s kind of a bit of a super suburb of Manchester in that it’s it’s outperforming others in terms of that growth um it was voted um in the times the best place to live in the Northwest just uh uh two weeks ago if you want to get on to Google and look up that Times article again it talks about all of the all of the good things there and then and what does that do is it just drives people to to either move there to live there or for people that live there to stay there and um as you mentioned in your opening um words there is the available stock in Manchester sorry in Stockport is very limited and uh and because of that as I said we we’ve seen higher than than than expected um rentals which has then uh given very good yields to those investors that that that have uh come in as a as a as a b toet um went investor there at Medill Tony Pete can I uh just jump in here uh as is my WOTE David you’ve got some interesting slides come up and a lot of what Pete and Tony have been saying I know is in those slides because I looked at them earlier on but do you want to just run through uh so people can actually see in writing what’s going on there you’re born and Brad Manchester so you know it well yeah I can I can only Echo what what Pete Antonio said I mean I’ve seen the transformation from um I suppose the I went to school in Manchester I went to University well it’s poly Technic at the time now Manchester Metropolitan University um so I seen the transformation the first area was over in Sulfur Keys you know when people started buying and S keys in the late 80s we were like why um and but the transformation in Manchester has been incredible um and yeah it it remains a great place to be stop p know very well um part of my family are from chedel and Stockport around there um so and and again um we’ve seen the development of the shopping center there um which has been superb over the last 20 years and as uh I think Tony just said that it’s it’s one of considered to be one of the the best places to to live currently so um it’s good Manchester as a whole um still relative ly cheap uh to to live you can see that it’s 31% cheaper to live in London we’re seeing the rents in in Meadow Mill coming in at sort of beginning it’s 700 750 a month which is is reasonable at the moment I mean I I live and breed rental property and to to get two people one two people to be able to live there and I think Pete said you know there’s some areas which are over cook I mentioned Sul Keys you’ve got areas historical areas like like Didsbury um which has has always been sort of a media typ and there’s a lot of media that that’s goes on in suid and then you’ve got the sort of the golden semicircle under Manchester uh football the country um which is bisected by the airport you’ve got wilso and orderly Edge on one side you got hail and Bowden on the other um really really hyper EXP expensive areas um I Ru the day I sold my house in in hail um but yeah so so that’s Manchester as a whole um and we can’t see it slowing down um yet yields are High um so that this is this is Meadow Mill I think um Tony said yeah it’s a skyscraper on its side was was it in Fairly good Nicks Tony that was a question that that I mean it’s a solid building um it’s it’s about 150 years old is it I think yeah just just under actually David so it had it’s 140th birthday last year so it was built it was built in 1883 by uh very prominent Mill owner T&J Lee at the time for this area um this was their Flagship Mill so they spent um a lot more money than than you would normally spend on what what is effectory what was effectively a factory of the time in the embellishments around the entrance so um the all of the the carved Stone workor um has been brought back to life is that over the years it had lost a lot of the character in that front entry way we we worked with a specialist Heritage window manufacturer to create uh 11 meter high window in the in the front there which covers spans across three floors um which is absolutely stunning so the arrival is amazing and you come into this reception with this York Stone which is uh you know it’s as old as time and but it’s like almost half a foot thick and uh you know comes in these big slabs we lifted all of those and we relay those sympathetically um to suit the new levels in that particular area as well so yeah it’s got a lot of really a lot of Heritage uh David and and I think that what you just mentioned there about the proximity to the airport is really important as well airports have a lot of people working at them and um what I’ve noticed being around the building since the the first lettings is that we have uh air crew from quite a few of the different airlines that operate out of Manchester soorry out of Manchester Airport um staying with us because um part of that one billion pounds that was being spent by the by the local Authority um on infrastructure for um uh Stockport was an was a a new bypass that allowed the the journey from Stockport to Town Center to the airport to be cut to just 10 minutes by uh introducing a new a new road to the network so so again proximity for those guys it’s about 12 minutes from we’re on the other side of the city center so it’s about 12 minutes by Road from from from the car park to uh to the airport so we’re getting a lot of traction and and and through Word of Mouth a lot a lot more inquiries from people uh working there at Manchester Airport yeah it’s it’s the good old a34 um and I think it’s you know back in my day and that’s where I started uh my my career and you know if I was looking at a bulk purchase of this a lot of the airlines certainly from from my experience will take on these instead of paying out for hotels you know obviously they’re constrained by cost they will um rent a number of Apartments service apartments for their crew and and I’ve been knocking on their doors saying well you know I’ve got half a dozen of these that just for you to have available I think think it’s 12 minutes into uh to to the airport from there um By by Train so it’s it’s absolutely ideal there this is a wonderful property for a bult purchase for for people that want either four or six units or more um but um it’s a great it’s a great location to have you know a portfolio Builder as we call it uh you know can start this being the the the Cornerstone um of a a property portfolio I’ve got a question just come in David about prices and rentability that sort of thing so um and Tony you mentioned earlier on okay most of them have sold there’s only about 58 left is that right because they came back on again what what is the demog what’s the demographics of that when it comes to price I’ve just got a question coming on my phone yeah they’ve um they’ve all been sold actually uh it’s only it’s only the fact that this one uh bulk buyer has asked to withdraw that we have this opportunity for these 58 units but otherwise all of the others are still progressively completing so the The Bu the building has been fully sold for for some time it’s just this like I say this withdrawal and and the other units are being completed on at the moment um I think just to to jump in there I think one of the STS that I saw and I think from an investor point of view that there’s uh there’s a a ratio of 15 to 85% owner occupied to to tenant so from an investor and we obviously operate out of London out of Padington base and which itself is a massive regeneration area has been and you know from an investor and I’m an investor you’d say what’s you know will I be competing against other investors and I think the the reason I asked about the quality of the building is that that will always come through if you got the demands there the tenants will uh gravitate towards a quality product you know we see it here in Paddington where you’ve got hundreds and hundreds of units which are all very well built and I don’t think there’s going to be it interesting whoever said it um was that yeah someone has already rented 65% of them before they were even completed so um I think demograph graphic wise you’re probably you’re in the young professional so I would probably put something like this 25 to 40 Year Old Market something like that I don’t know whether Tony would have a view on that necessarily yeah absolutely I I think that that’s a fair assessment David and I think that um the other thing that’s good to know for investors is that we’re still there on the site I have a team there uh on the site that deals with the handovers deals with any any snagging issues that come up during the Handover process that inevit inevitably come up so so we’re represented on the site still we we have a team there of uh of project coordinator and um and uh uh a maintenance and snagging team there in addition to that there’s a there’s there’s a concierge um that’s uh that’s operational from 7:30 a.m. to to 3:30 p.m. Monday to Friday so there’s there’s good opportunity for interaction with the proper management team if anybody’s got any questions uh on that can I’ve got a very pertinent question very pertinent from Kier because this is what’s just happened um what is the risk to a buyer who buys commits and then another bulk buyer comes in and swashes the whole thing away and therefore the client loses out how could how is that protected and it’s something that has happened recently I can answer that from our perspective as the developer is is we we work in a in a very particular manner in terms of um ethics and and policy we we we we warrant and and stick by reservations so as soon as as soon as somebody has reserved that property and put over their their reservation fee we issue the contracts to their solicitors the next day so once that process that once that has happened then then their their they got it investment opportunity is secured okay so they don’t have to wait till exchange of contracts then as soon as they paid their red spere the paperwork’s in K there we go I’ve got another question com very good question from Karen and a really good answer so thank you for that uh I’ve got another question in here can you just tell us about a bit more about the ual Apartments the prices and what sort of sizes they are yeah I’ve got um I mean key points here so um Capital prices are slightly over 150,000 um so the rents there um yields service charges obviously relevant um and again Tony mentioned we had on the slide that you’ve got conier service but still relatively low service char charges um for those who maybe not you know in London we generally look at 7 to n pound per square foot per anom um so AT3 pounds I think it’s is looking remarkable value actually and again sizes ranging from 328 to to 9930 so those are the key points there for you we’ve got a full price list by the way anybody that’s on and a brochure obviously um so yeah thanks for that David what’s your next slide uh next slide is the end of it so um oh that was pretty much it yeah exactly so um I’ll stop sharing for now but I can go back to it if you’d like to uh anybody got any other questions please uh let them come in I’ve got a question that’s just coming on my phone what do they get uh what’s in there we mentioned the beautiful uh bathrooms from Italy uh what else is in there yeah the B the bathrooms are actually jurit and hands grow so they’re they’re they’re really good medium to top range Brands um with the Italian kitchens they come ready fitted with white goods so you’ve got a built-in fridge freezer you got a builtin um washing machine uh we have the um uh oven uh the um induction hood uh sorry the induction hob and then and then the Hood um I think what one of the key things today um amenities for uh uh renters and and and Property Owners is um is future proofing um internet connection so again we invested in that um we are the only um uh large apartment building in um in Stockport at the moment with with fiber to the apartment I’m just going to interrupt quickly Erin are you there and if you are can you share the brochure somebody just come and said can I have a look at this brochure and the flat so Erin if you’re there please share sorry carry on sorry no so so we we’re actually FIV to the apartment which means that we have gigabit uh capability uh there we’re not tied into a single ISB either you find that some developers they do a deal with BT or virgin or the like we we did the opposite we wanted it to be open so there’s now there’s currently 16 different um isps that can provide different plans and pricing different connections speeds depending upon what your needs are a lot of us are working from home these days as well as going into the office so you need to be able to have that reliable connection and and you certainly have it at meam Mill I was just going to say say looking at these pictures actually um Pete’s comments Whoever thought this looked like a prison clearly havn’t seen strange ways but um this is a Goodings and the brick work there are just absolutely these these images don’t do do them Justice actually but they’re absolutely stunning to have and and because the of the high ceilings you have high Windows as well so you have really light and Airy rooms um uh we invested in in literally the state of thee aluminium and Glass Technology to bring them there in a Heritage format so we had to go through multiple different samplings of style to be able to satisfy the Heritage requirement it’s a grade two listed building so so it’s it’s h it’s a got strong interest in the local Heritage from the local Authority there so uh we we made all of the windows acoustic there so even though we’re close to to transport links and things like that is that when you’re in your apartment you’re in your in your in your own home then um all you can hear is is is what’s going on in in your in your apartment and it’s and it’s not listed Tony there’s no mention of that so I’m assuming not but um no listing issues there no none at all what what the the internal fabric is is is is yours to do with as you as you please um the main things was because it’s such a landmark building at 13 MERS Frontage uh on facing Stockport it’s it’s one of the the most recognizable buildings in in the 10 burs of Manchester um so uh they they they were very keen on the externals there and how the externals appear and that’s what we’ve delivered on there Erin just for fun can you put the prices up as well sorry carry on talking Tony I think it looks great I think uh it looks like you know if it was a prison then I don’t mind going uh anytime soon oh there there we go so no that’s good look all the information is on our website which is uh hurn property investments.com and this uh fantastic award-winning show will be on there as well so the person that asked the most questions is called Anonymous so I’m hoping that Anonymous is going to thank you Erin uh Anonymous has been invited by wealth manager if not just get in touch with us direct and we can put you in touch send you the brochures Etc uh but that’s good so P spread of prices on there as well and I think in particular I’m looking at the some of the the um you know the two and the three bedroom units I think they’re exceptional value um certainly when you look at some of the prices now in in Manchester I personally think they’re getting too high some of those developments are now getting up to 600 a square foot 650 a square foot to me that’s thoy I think this is really good value and and most of the people that we serve are looking for investment Value stock I don’t think you’ll do any better than this and especially the entry level makes it very very helpful um and I’m sure that um you know our mortgage people would be able to assist you with this um please funnel everything through Chris can I also say that um Chris has has got a um a great knowledge on property and he can help make sure that we give the right answers and when I say that the truthful answers we had a situation yesterday where one of our opposition who will remain nameless um basically some of the information they were giving was not for us sure criminal um we do we operate an honesty policy we try to give best advice we don’t put things forward that uh have got weevils in them as I call it the old biscuit weevils um so I think you can all feel really assured that this is a great product good price point uh great developer it’s attention to detail so um you know I recommend this to the house thank you Pete and the other thing and you’re absolutely right one thing anybody that’s been on a meeting with me or anybody listening to this always get a pray approv from your mortgage broker yeah you know if you’re in Dubai if you’re in South Africa a lot of our offices down in South Africa southeast Asia depending what your job is your ages your married obviously if you’re employed self-employed makes so much difference and it’s so good to get an offering principle from an expert and we’ve got experts who will say yeah given your circumstances all things being equal we’ll be able to lend you 65% of the interest rate is going to be 6 and a half% that’s what you need before you go any further and I know it’s not the most exciting part of the operation but um anyway those prices are up there you to look at we’ve got other stock in I’m bound to say this aren’t I we’ve got other stock in Manchester um and this is just so different it’s so compelling I personally like an old building and living in Dubai um it’s good isn’t it um so if you compare this with other stock I know the guys are been saying this all the way through but I’m going to say it anyway if you compare this with anything else and you what seven miles into into Manchester so you can see two of the greatest football clubs in England Manch City and stock Bor County so I was just about to say thanks thanks for not mentioning the result last night which is uh just just cost me 20 quid this morning with oh yeah good old Rob good old Rob yeah I bet he’s got his hand out that’s why he’s in the office um anyway any more questions Anonymous has gone quite I know Anonymous is now but uh anyway look it’s compelling it’s great thank you guys for coming on the show I’m going to invite you back because I really enjoyed doing that that was great fun and David and Tony your knowledge is is unbelievable and I think Tony we didn’t get into it because we’ like to wrap these up in 40 minutes but you know I wanted to ask right okay we’ve had Co we’ve had what’s gone in the Ukraine uh War how did that impact your job it must have been so difficult to navigate that well it was a real challenge so literally uh you couldn’t write it uh we started the conversion element of the project on the the 2nd of March 2020 and literally three weeks later that was when our first lock lockdown came on the 23rd of March so we we had to to kind of uh stop operations come to terms like everybody was with what was happening daily on the news understand what the the issue was and how infectious that particular disease was in the risk we had to then reconfigure all of our works with the different trades people to not be working in the same places at the same time to have separate wash facilities and and and sanitation requirements uh we had to to change that the times that everybody took breaks or had lunch things like that and uh and then but also the raw materials I mean Pak and expert on raw materials I don’t know where he gets his information from but it’s because I’m a Tradesman originally so when I’m down here and and as um Tony would tell you if you’re a PM project manager on any job um the one thing you want is shorty of prices and the one thing that Tony didn’t have was shorty of prices steel went up 69% Lumber Timber that is went 55% up you couldn’t get stock even if you wanted it and so therefore navigating those is an art form I would suggest that um you know Houdini would have suffered just as much of getting out of one of his situ ation as Tony did getting the both the product um and also bear in mind the constrictions within construction you know I’m I’m not being funny but you try wearing a bloody mask inside a building when you doing work it doesn’t work it’s bad enough wearing hards everything slows slows down Pete and then obviously it becomes then very difficult to to manage from a programming point of view but you know um I have a mantra and the Mantra is the projects are one or lost in the procurement AB so so that that served us well here well here we’ done our homework we’ve done our procurement um in the period preco so we pretty much had fixed prices in terms of the product but then in terms of deliverability as we all know that there were issues then with um transportation cost skyrocketing I was paying six or seven times the the pre the preco rate to get a truck to bring kitchens from Italy to to Manchester to to paying eight or nine times for a container to to to move across the seas as well so we we absorbed all of those costs and um I think on in in retrospect it probably costed about 15% more to deliver the project did but um we did that while so many others weren’t able to to to kind of shoulder those additional uh challenges and um our relationships with the contractors I I I I’ve always had a thing about placing as much work as I can in the local community because I think you get you get a lot more um out of that uh both from from a holistic viewpoint but also from the people that are there so we were able to work with the guys who were local there who were having much bigger problems on other projects than they were having on ours so we just worked around it with them and and together we brought the the scheme to its fruition it’s it’s always a cast of of thousands Just One Last Question somebody’s coming said they got a CLI looking to build a small portfolio is there any wiggle room well I’m going to answer that there’s always wiggle room but speak to us speak to Pete and we will sort something out um C I suggest to you please don’t um it’s it’s good advice to give to your clients as well there’s a misconception that there’s absolutely uh stacks of money in these developments that’s not true margins within construction are tight so please don’t thinking just because you’re going to buy four six Apartments you can go and get 10% off it doesn’t work that way wle room yes but that’s all it is it’s wle room it’s not massive the margins are skinny they really are especially when you spend 15% more because of the co and brexit and those other Fallout things so that that that converted to an additional three million pound investment from us as a final note from me can I just say please if you are interested in this project don’t don’t sit on your hands it’s not going to be around for long it’s not a great deal of units only 58 they’re going to they’re going to fly off the shelves because they will because there is no other finished stock so I highly recommend you you know say to your clients please try and move on it we had a situation short while ago Chris was dealing with a particular wealth manager that um they were being very diligent asking lots of questions and then by the time they actually got to make the decision that unit had gone they then came back and they wanted another unit of a similar size and location um and um again we said please make your mind up that was on a Thursday guess what on Saturday it’s sold and so when you look at these units in particular when it’s the unit that you want there’s not lots of three beds somebody wants a three bed then be decisive you know please put those put your best foot forward um as quickly as you can otherwise you’re going to be disappointed and so will your client be thanks Pete for that looks like the weather looks like it’s got a rain over your head by the way Pete um everybody thank you very much uh enjoyed that lots of information lots of facts hurn property investments.com is the website and we’ve got other stock and other stock from frasers as well if you fancy a bit of London fancy bit of Birmingham fancy bit of Scotland York we’ve got them all so please reach out thank you for