074 - Adding Value and Increasing Rents

In this BRAND NEW Podcast Series, we will be going Behind the Scenes on some of the UK's most Creative, Lucrative and Award-Winning Deals 🤩

Hosted by me, Mark S Barrett from The Property Brokerage, this month it gives me the absolute pleasure to welcome Suzi Carter, a PE Board member and a Chartered Surveyor who has worked in the commercial property sector for over twenty-five years.

Suzi has more than ten years experience at Director level with some of the industry's giants, including LandSec plc, Kingfisher Group and CBRE. Most of her professional career has involved acquiring, developing or asset managing commercial property and she has been responsible for portfolios worth over £2.5 billion.

Suzi joined the Property Entrepreneur Board in 2020 with a view to raising her game and has gone on to develop her Commercial Property Academy offering.

This podcast goes behind the scenes on one of Suzi's projects with a JV partner where they purchased a large 28 bed HMO in Worcester. The property was comprised of four terrace properties with large rear gardens. The property had quite low yields and the deal consisted of three elements:

• A title split
• Adding value through planning and upgrading to increase the rents by £70,000 pa
• Use the rear garden for development

The numbers:

• Initial purchase price £1.1m
• Purchase costs £35,000
• Upgrades £250,000
• New valuation £2m
• Value of rear garden £400-500,000
• Equity created £1m
• Initial Rents: £107,000
• Rents after upgrades £180,000

Our May episode of Deals Deals Deals is now live, tune in straight away to avoid missing the boat.

Success and Failure are both very predictable.

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