So here’s a look at my £6 Million property deal in Birmingham. It’s currently an industrial building that we are going to demolish and we’re gonna put on a new student accommodation block consisting of 58 studio flats. Property at the moment, some parts are not in great condition and you’ll see that in the video especially the guests that we have upstairs on the top floor. This property will be mainly aimed toward students that are attending Aston University and Birmingham City University which is pretty much on the outskirts of the city centre. So it’s within walking distance, studios are going to be a really good standard, 25 Square Metres in size, so it’s a lot bigger than your average studios. Some of the studios that competitors have are closer to 20 Square Metres. So Birmingham at the moment is… … does have an under-supply of student accommodation, so good sites in great locations that are very close to the University they’re hard to come by. So this is something I’m working on very closely with my very small, close-knit team, we’re out there sourcing deals in Birmingham and other cities, where there’s a good demand for student accommodation. So here’s some things that we shot last week at the property. So there’s two Churches in the building at the moment One’s occupying the ground floor, one’s occupying one of the upper floors, so that was who the previous owner rented it to. So we did a deal that we’d be taking over those… taking over those tenancies, so its leases, and having those Churches as tenants and obviously we’ll then serve them notice so we can develop, so they’ll need to find alternative premises to operate their Churches from. My building actually runs from this line here… my building runs from here right through down to the black shutter just there and right back. So this… can’t remember what the footprint is but… … y’know, it’s 58 flats, average is 25 Square Metre studios, got a communal area, we’ve got a courtyard, so it’s a nice little scheme. Next door is going to be developed, they’ve got… outline planning for 26 residential apartments, we’re going to have students next door, [points down the street]
that’s been converted to student accommodation and now it’s like… a budget hotel. So the area’s having a lot of regeneration so… It’s good to try and get in early to these sort of areas obviously, so you can… One: benefit from the long term, any, y’know, capital growth in the long term and… ideally secure a good deal now. It’s about having that foresight of thinking and working out what’s the deal what’s not a deal. Actually… I used to attend that Church when I was growing up as a kid used to get in the Church bus just like this bus here actually, this is for a separate Church, completely separate, get picked up in a mini-bus just like that, and get taken to that Church down there, so it’s just weird. And the Church that I was attending my brothers has left now, but it was for years… was good at first and then it got boring because the service is quite long and as a kid, you know, you’re trying to… not be bored, basically. Just picked up keys for the property as I said earlier we’ve only got access to some parts, now we’ve got access to the other part, the vendor was actually occupying sort of a little section of the property for his office, so we’ve got access to that now, not that we’re gonna do much with it, but I’ll show you around some parts of the building, and then another time I suppose we can show you the rest. Follow me, I’ll take you in. As you can see, it’s very high standard luxurious bathroom. Funnily enough I haven’t actually properly looked around this building. Any site that I look at that’s going to be demolished anyway, I actually really don’t care about what the inside of the building looks like, so I tend to not know it well. Tends to not matter, what matters is – unless it’s a conversion, with demolishing it doesn’t really matter – ideally there’s no asbestos in the building, that makes demolition a bit more smooth. It’s always great to come out to the building to have a look an area or what’s in the vicinity and get talking to any neighbors or anybody else around, so you can understand a bit more about what’s going locally. So this is next door, the white building is next door, so it’s kind of a… bit of an awkward awkward property, so there’s clearly some party wall issues to deal with or negotiations, rather, to have y’know, I know the owner next door and it seems to be fine so far, so once we get… once we get the agreement formalised… the party wall agreement… … it should be all a go. This door… not sure where this leads to. Hopefully it’s not a drop. Dropped to something. Right, come and have a look at this. There was a roof… apparently the roof was leaking so the vendor… now… this is his own doing… Put… paddling pools in to contain the flood of the water coming in. Crazy. Anyway, so you’ve got a couple of paddling pools that… … hopefully we’re not going to have that issue because it’s summer now and the weather’s been pretty good but this whole building is coming down, so… Hopefully the tenants that are here for the little time they’ve got left don’t experience any more problems, but anyway, that was the solution that was put in place. Got a lot of nook and crannies to build in, it’s got… again, it’s an awkward site. Originally it was one building, I think they were manufacturer, or some kind of… building that used it for industrial purposes, and at some point they split the building up and sold it off individually so the building is over a number of titles and the way they’ve chopped it up is… … kind of crazy really, so it’s quite a weird layout. This is where the pigeons are, somewhere. We may not want to be in here for too long. Yep, I can see pigeons. I’m not gonna go in here because I don’t want to be shat on, if I’m honest. Up here is basically a mess. So this is the top floor of the building. Not gonna walk down there, there’s no point. [DOOR SLAMS] That’s a different situation to be in, isn’t it? I don’t want to be in that situation. Pigeon in my face. Let’s get out of here. Hope you liked the run through of the property, just get an idea of… what the current building looks like basically, it doesn’t really matter much because it’s all going anyway. But there you go. [SHOUTING] Just… … we’re gonna be building something here (What?) We’re going to be building something. (What ya’ buildin’?) Student accommodation. Oh you’re gonna get this boy on it? All these girls’ll be messaging. (Birmingham [unintelligible]) Yeah, it’s a… I mean it’s a £6 million property deal, so it’s… biggest deal that I’ve done to date, I’ve got some other interesting stuff in the pipeline, but this is most certainly… … something that’s taken a bit of my time at the moment so really excited to be working on it, and get moving with it, get the contractors in, building demolished, and get our building *built*, so it’s not as simple as that and there’s gonna be a lot of hurdles on the way but this is something I’m going to be documenting, so subscribe, comment below if you’ve got any questions about how I got planning permission, how do you it yourself, how do you get a deal, how I did it, how I got a deal… my background, I mean I’ve been doing this for quite a while now, been in a student market since… 2010, 2011… so… I’ve got a good understanding of what students are looking for how to let, how to operate these sorts of schemes… So it puts me in good stead to do a deal like this, so… it’s not something you can just go out and do, it takes a lot of funding, it takes experience, and you need a good team of consultants and architects around you to be able to design and come up with a scheme, and come up with the responses to the planners, and ensure that every party is happy. So you can pull the scheme through I’m gonna be posting now, I’m gonna be pretty active across a bunch of these social platforms I’m gonna be all over LinkedIn, Instagram, Twitter… even Snapchat, you name it, so… so you can follow my journey, have a look at some of the deals that I’m working on and how I did it, maybe get some advice, and your thoughts, I’d love to hear your thoughts as well, even if you’ve got a deal for me, I’m interested in hearing about those if you’ve got a location or a site that you think could be developed and you’ve got a question for yourself so you can do the deal, get in touch, I can offer my own opinions and advice if you’re trying to strike deals with owners or vendors, again, I’ve got experience with that, get in touch, comment below happy to answer any questions, and I’m happy to come in on your deal.