IN THIS ISSUE
THE FORMALITIES
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FOREWORD A letter from our Founder, Matt Siddell
INTERIORS
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THE ART OF BUYING FOR INTERIORS By Emily Hodges
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VERA AVENUE, GRANGE PARK: FAMILY HOUSE RENOVATION By Matteo Bianchi
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ST KATHERINE DOCKS, TOWER BRIDGE
Cover featuring awardwinning and critically acclaimed international interior designer, Marie Soliman, on page 70. Dubbed the “chameleon of design” by British GQ Magazine for the way she blends styles and adopts a unique approach to each and every project.
ISSUE NO. 20
By Alan Waxman
HERITAGE
PROPERTY & DEVELOPMENT
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FLAXPOOL COTTAGE, TAUNTON
ELEPHANT HUNTING By Andrew McDonald
By Emma Morby
INTERIORS
CASE STUDY
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FORENSIC QUESTIONING
FLAMINGO INVESTMENT GROUP:
IN DESIGN
OPTION AGREEMENT WITH
By Helen Touli
PLANNING UPLIFT By Tariq Mubarak
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MODERN MINIMALIST OASIS HIDDEN IN A 1970s PROPERTY By Alan Waxman PROPERTY FINANCE
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FOCUS ON ESG: PART TWO By Mike Bristow
COVER STORY
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FROM THE RIVER NILE TO THE RIVER THAMES AND NOW THE SEVEN SEAS
MEMBER PROFILE
Marie Soliman
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DORIAN PAYNE
FOREWORD _______________________________ Qandor Founder Matt Siddell Partner, Head of Content & Marketing George Le Roux Partner, Head of Membership Simon Podd Events & Publishing Manager Tess Lawson Photographer Daniel Law _______________________________ For editorial and advertising enquiries, please email: magazine@qandor.org Visit our website www.qandor.org Contributors Alan Waxman Andrew McDonald Dorian Payne Emily Hedges Emma Morby Helen Touli Marie Soliman Matteo Bianchi Mia Ziervogel Mike Bristow Tariq Mubarak _______________________________ Legal Qandor Ltd does not endorse any of the members or contributors to this publication. Always seek your own independent advice prior to investing or agreeing terms of business.
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Research has revealed that we are a nation of property Peeping Toms, with more than half of Brits (52%) admitting to having indulged in online ‘property porn’ within the last year. At first glance, the stunning pictures and examples in this issue could be viewed through this lens. However, this month’s interiors themed issue is very much a celebration of interior design and really showcases the role of the designer. We can all appreciate how a good interior designer will combine beauty, comfort and functionality by playing with space, light, colour, materials and of course furniture — importantly, whilst keeping clients’ wishes and constraints front of mind. It’s fantastic that we’re able to provide this platform for Qandor members. This edition boasts an embarrassment of riches, featuring Landmass, The Interior Design House, Milc and Matteo Bianchi Studio. We hope their insights inspire you to design your own projects, as we learn how the Club’s designer members work and what inspires them. We’re particularly proud to showcase award-winning and critically acclaimed international interior designer, Marie Soliman, on page 70. Dubbed a “chameleon of design” by British GQ Magazine for the way she blends styles and adopts a unique approach to each and every project. We’re also pleased to announce Marie, together with Mike Bristow, CEO of CrowdProperty, as keynote speakers at our flagship event Q.TV, back for the first time since the lockdowns – see opposite for details. This series of events is always extremely well received and we look forward to seeing many familiar, as well as new faces, on the 29th March. In the meantime, enjoy the read!
M! Sidd" Matt Siddell Founder
INTERIOR DESIGN
THE ART OF BUYING FOR INTERIORS EMILY HEDGES FF&E Buyer Milc Interiors www.milcstyle.co.uk
Buying for interior design projects covers sourcing, negotiating pricing and purchasing FF&E (furniture, fixtures & equipment). A buyer’s ultimate goal is to procure a product that meets the
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design brief agreed by the interior designer and the client, at the right price, and that can be delivered within the desired timef rame.
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There is a triangular relationship between budget, lead time and design, and inevitably any product you select will see a compromise on one of these elements. Below I’m sharing a few of the key factors that ensure a successful purchasing journey. A buyer’s relationship with suppliers and manufacturers is paramount. At Milc, we have been working with several of our suppliers for over a decade. This is not only thanks to their innovative designs and the high quality of their work, but also their reliability and attention to detail all the way from initial conversations through to installing products on-site. 008 – Qandor – Issue No. 20
Forming a strong connection with a supplier opens doors such as the opportunity to customise designs and develop bespoke pieces. This is true of small-scale makers you might discover on Etsy, through to global manufacturers. One of the best ways to meet suppliers is to visit trade shows. Milc designers and buyers attend a wide range of industry events, both to meet new suppliers as well as to visit our existing partners. We also aim to visit our UK suppliers at their showrooms and workshops on a regular basis to ensure we are up to speed on their latest collections, production capabilities and price points.
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We recommend making the time for these trips if possible so that you can see the production process and try the product before purchasing. It will also allow you to compare different brands and products on a deeper level than just the ‘look’. Sourcing is my favourite aspect of the buying role, but it also presents many challenges. The internet has undoubtedly made sourcing easier, particularly with the rise of platforms such as Pinterest, which present an infinite source of inspiration. However, the downside is that every other buyer, not to mention your client, has access to this same information. This forces us to go the extra mile and seek out lesser-
known brands or commission bespoke designs to make our projects unique. At Milc, one of the ways we inject personality into projects is through artwork and accessories. We work with incredible artwork partners who can bring even our wildest ideas to life. This can range from off-the-shelf prints to bespoke murals. Over the last few years, several art platforms have appeared such as Partnership Editions, which make buying artwork accessible and allow you to discover emerging talent. Look out for graduate shows, too, where you’ll get to meet young artists and designers who are looking to get started in their careers. Issue No. 20 – Qandor – 013
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“There is a triangular relationship between budget, lead time and design, and inevitably any product you select will see a compromise on one of these elements.”
When it comes to sourcing internationally, global events over the past two years have caused significant problems across supply chains. Products that we purchase from abroad are taking longer to reach us and costs have increased. To mitigate these changes, we have found ourselves looking inwards to our UK partners for creative solutions. Sourcing antiques is one of the best ways to procure products on a short timescale. There are a number of events throughout the year such as the Ardingly Antiques Fair and Sunbury Antiques Market where you can meet the dealers, purchase items and sign up for their
newsletters to be alerted when new stock arrives. With many of us thinking more about where our furniture comes from and how it was made, buying antique rather than new is a more sustainable way to purchase.
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Furthermore, an increasing number of our clients are keen to know about the sustainability credentials of their interiors, so it is also important to pay attention to how our suppliers operate and where they source their materials from. There are many factors at play here, but it is worth asking the brand about any certifications they hold, which raw materials they use and where the components come from. This will help you to build up a picture of the product’s journey and its environmental impact.Q.
Milc work with clients to develop designs that exceed their expectations and deliver a seamless service. If you have an upcoming project that you are seeking design advice for, please visit info@milcstyle.co.uk or call us on +44 (0) 20 7700 1523.
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VERA AVENUE, GRANGE PARK: FAMILY HOUSE RENOVATION MATTEO BIANCHI Director Matteo Bianchi Studio www.matteobianchi.co.uk
Matteo Bianchi Studio was commissioned to completely transform this large family house in a very elegant area of North
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London, into a beautiful home whilst retaining the warmth and personality of the clients.
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From the start, our clients were clear that it was essential to comfortably accommodate their extended family, as they would often drop in at any time. Sometimes there would be five visitors, but more often up to 15 guests could be in the house at any one time. Looking at the very awkward existing layout, it quickly became obvious that this had to be improved with some serious replanning. By knocking through walls in some places and blocking up openings 028 – Qandor – Issue No. 20
in others, we reconfigured the layout and improved the circulation. A new extension was built across the full width of the house to increase the space. In this new area, we designed a very modern and fully equipped kitchen. The new island unit was lit from above with dimmable Glo pendants from Penta. Bespoke display units with internal lighting were used to define the sitting and eating areas. The dedicated utility room and walk-in larder were conveniently positioned but out of view. The porcelain tiles from Refin give a continuity to the whole kitchen and living area.
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The overall scheme is a mix of dark wood flooring, polished copper detailing and warm rich colours. All the doors are painted a dark colour to give a sophisticated and elegant atmosphere. We created a large formal dining room with dramatic pendant lighting and deeply upholstered dining chairs. The new living room is a lustrous mix of velvet sofas, a striking wool rug and Roncisvalle table from Barel. A delicately patterned wallpaper greets visitors in the entrance hall whilst concealing the doors to the new coats cupboard. The clients were so impressed with the design, they have recommended Matteo Bianchi Studio to their friends and family. Q. 032 – Qandor – Issue No. 20
SUPPLIERS 1- Glo pendants over the kitchen island from Penta http://pentalight.it/en/prodotto/glo-pendant-multiple-composition/
2 - Roncisvalle table from Barel http://www.barel.it/en/products/tavoli-en/roncisvalle/
3 - Refin tiles for the kitchen/living area
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ST KATHERINE DOCKS, TOWER BRIDGE ALAN WAXMAN Founder & Chief Executive Landmass www.landmass.co.uk
An eclectic blend of tactile luxury and cool industrial chic, this playful property, only a short distance f rom St Katherine Docks, started life as an empty warehouse. 034 – Qandor – Issue No. 20
Leaning on this iconic heritage, the new design contrasts exposed brick and brass fittings with deep blue velvet and flashes of brilliant colour for a unique, charmingly sophisticated property.
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With the use of bronze accents, bold colours and textures including the herringbone flooring and hydraulic tiling and hidden doors, the property is brought to life adding a modern and playful dimension whilst retaining the original warehouse aesthetic. Q.
!"#$%"&&' ("&' )*+#$,$' -#' .//0' 12' %"#"3-#3' $-4,56*4' 78"#' 9":%"#;' <"&,$' -#' !*#$*#=&' >*?*@' -6' -&' "' %+86-A "("4$A(-##-#3@' BC<7' 5?"46,4,$' $,&-3#' "#$' $,D,8*E%,#6' 5*%E"#2;' 9,' $,8-D,4' %,6-5+8*+&82'E8"##,$'$,&-3#'&*8+6-*#&'"#$' 1,&E*F,'8+:+42'E4*E,46-,&'(*48$(-$,; Issue No. 20 – Qandor – 041
HERITAGE PROPERTY
FLAXPOOL COTTAGE TAUNTON EMMA MORBY Director of Land Acquisition Heritage England www.heritageengland.co.uk
This month I have focused my efforts on finding a more affordable listed building that still has the wow factor! Cue Flaxpool Cottage.
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Flaxpool Cottage is situated just outside the small village of Crowcombe, nestled at the foothills of the Quantocks, with Taunton and Minehead being the closest larger towns.
HERITAGE PROPERTY
Crowcombe is a charming, detached Grade II listed cottage with a single-storey annex linked to the main house. With its thatched roof, it gives this property a wonderful cottage feel and is perfect for multigeneration living. It has some beautiful features like the impressive inglenook fireplace complete with log burner in the
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sitting room, and the kitchen has an AGA set into what used to be the old kitchen inglenook fireplace.
“The great hall with its vaulted roof and hammer beams, a minstrels gallery an overmantel carved with the Ingram arms”
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This property is believed to date back to the 1600s and has always been used as a single-family home with cattle store at one end, but over the years it has been sympathetically restored and extended to what it is now. With original dark wooden beams separating the living/dining room area, you can see a demonstration of
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history unfold as this is where the cattle store was originally located. The property has four bedrooms, sitting/dining room, kitchen/breakfast room, study, utility, a shower room and bathroom. The large (half-acre) garden creates a place of calm with mature shrubs and lawn area.
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There is also a double garage and workshop. The two-bedroom annex can be completely standalone from the main house, with its own front door for access. The rental potential in this area could fetch between £650-£800 PCM, or you could use it as a holiday let through the summer months so it could provide a small income for the new owners, which will help towards the upkeep of the Grade II listed main house. If you are looking for a little slice of heaven in the West Country, then this is perfect! Flaxpool is filled with charm and character but also offers many opportunities to a buyer in the form of multi-generation living, rental, and holiday lets. And best of all, it’s priced at a modest £550,000! So it certainly is affordable. Q.
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FORENSIC QUESTIONING IN DESIGN HELEN TOULI Director The Interior Design House www.theinteriordesignhouse.london
At The Interior Design House we have a very different approach to designing for our clients; they undergo forensic questioning so that each design concept is as individual as they are.
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Our hygge-themed living room was stripped back and adapted to receive a modern ribbon fire surrounded by a robust, textured, pebble wallpaper. The soft, comfy, stain-resistant sofa, colourful cushions, earthy rug and insulating blinds
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and curtains create a warm welcome to the new favourite family room. We encourage homeowners to really express themselves in the smallest room in the house; the first one is dark and moody with black metallic wallpaper, gold accents and black glossy surfaces with hidden soft lighting; the second wows their guests with the unexpected stunning, backlit onyx stone vanity top and statement tasselled pendant lights, moody halo lighting, dark ceiling and textured walls, reminiscent of their 5* luxury getaways. We created a home spa and steam room using organic wood and stone finishes, accompanied with sensual 054 – Qandor – Issue No. 20
aromatherapy infusions, oversized rain shower and ambient soothing sounds, culminating to a calm oasis to melt away stress and enhance quality of life and wellbeing.
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Taupe is a wonderful modern calming neutral; we added many luxurious textures on the walls, the modern classic furniture and accessories with highlights of metallic burnt orange and lilac for individuality. A c ont e mp or ar y, m e t a l l i c , curvaceous balustrade flanks the sweeping marble staircase of this newbuild with the dark wall accentuating the curved forms. The opulence continues with the book matched marble surround, and a distinct large ‘pocket wall’ reveals the lavish dining room, adorned with a suspended crystal rock chandelier.
This Central London apartment underwent a complete transformation: spacesaving pocket doors were installed to the newly styled bathrooms, tall ceilings and mouldings were highlighted with cove lighting and a beautiful open-plan kitchen/diner/living room with timeless finishes, and antique bronze mirror and Amtico chevron flooring were created. Q.
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MODERN MINIMALIST OASIS HIDDEN IN A 1970s PROPERTY ALAN WAXMAN Founder & Chief Executive Landmass www.landmass.co.uk
Lon don-based architec ture and interior design company Landmass transforms a 1970s property into a modern and minimal oasis. 060 – Qandor – Issue No. 20
In the heart of Holland Park, within a pleasant upmarket residential area, sits a three-storey mid-terraced townhouse. It’s constructed of brown weathered brick with white wooden frame windows, black iron
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cast Juliet balconies, and gates. Originally the property had a pretty traditional layout – kitchen, dining, and a work room (?) on the ground floor; master suite and living room on the first floor; and two and a half bedrooms on the second floor. It appeared rather cramped, especially on the ground floor but despite this, the property had great light and tonnes of potential. Our client was interested in creating a calm, minimal and easily maintained home. An additional and the most important request was, of course, space, and the answer to that was excavating a basement. With an entire extra floor, we 064 – Qandor – Issue No. 20
had the luxury of keeping the ground floor almost entirely one big open living room. The brand-new staircase, having nowhere to hide, is an architectural feature in its most honest and simple form. Unlike the original layout, the basement is now home to a modern, black marble and high-gloss kitchen. A modest dining nook has been created right under one of the lightwells, which keep the basement from being dark and gloomy.
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The entire first floor is a master suite containing a very generous bedroom, bathroom and a walk-in wardrobe. Here, as well as in the rest of the house, the colour palette is a subdued but warm shade of oatmeal. Throughout the entire house the floors (and bathroom walls) have been finished in microtopping – which is an innovative solution that combines the aesthetic qualities of concrete with the modern requirements of a smart and green space. The second floor contains two guest bedrooms with en suites and a home office. The severely pared back finishes are in a direct contrast with the client’s dark and 068 – Qandor – Issue No. 20
organic art collection. Rich wood carvings shine on the cold concrete walls, whilst unexpected funky wallpapers are hidden in the cloakrooms behind bespoke sliding doors. The only link to the very traditional exterior are the white wooden window shutters adorning every window. Q. !"#$%"&&' ("&' )*+#$,$' -#' .//0' 12' %"#"3-#3' $-4,56*4' 78"#' 9":%"#;' <"&,$' -#' !*#$*#=&' >*?*@' -6' -&' "' %+86-A "("4$A(-##-#3@' BC<7' 5?"46,4,$' $,&-3#' "#$' $,D,8*E%,#6' 5*%E"#2;' 9,' $,8-D,4' %,6-5+8*+&82'E8"##,$'$,&-3#'&*8+6-*#&'"#$' 1,&E*F,'8+:+42'E4*E,46-,&'(*48$(-$,;
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FROM THE RIVER NILE TO THE RIVER THAMES AND NOW THE SEVEN SEAS MARIE SOLIMAN Founder & Creative Director Bergman Design House www.bergmandesignhouse.com
Marie Soliman is the powerhouse creative genius f rom the River Nile who has taken over the River Thames and now the Seven Seas.
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Soliman is the co-owner of the multiaward-winning design architectural firm Bergman Design House, which she owns with her partner, best friend and husband, Albin Berglund. The two met while working for the prestigious
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firm Hirsh Bedner Associates. They first started working on smaller freelance jobs together as “Marie&Albin”. After their first major project five years ago, they created Bergman Design House and the studio was born. At that moment the two surnames merged and shook the design world with their fearless vision. This young company now has four divisions and offices internationally, plus an architect studio partner in Delhi, and a 3D studio in Singapore – 32 staff in total. This ensures their clients from all over the globe have 24/7 access to their studio. While Marie has a maelstrom of artistic ideas and vision, Albin, with a 074 – Qandor – Issue No. 20
calm Scandinavian practicality, puts the whirlwind of ideas onto paper. Marie states that their team is like a family, an essential part of the hard works that gets them to complete a project on deadline. The “work hard, play hard” scenario is how Albin describes it. When they hand over a project, there is a celebration as family and friends, not co-workers or employees. For Marie pitching for a project is approached from the standpoint that the job is already theirs. It gives them the passion and energy to walk into any boardroom not only prepared but with enthusiasm, and as Marie puts it, “If you’re not having fun, what is the point?”
The challenge becomes a theatre of emotions leaving clients with a feeling that they have experienced something great. Their passion in pitching has made such an impact, that even if they did not win the pitch, the clients have returned later with other projects. “Feeling” is a word Marie returns to again and again. It is not so much the items she places in a room as the feeling and emotion she wants to leave in a space. How does the person feel being in the residence? How do people feel sitting in a hotel lobby? Do they feel beautiful, serene and confident? Those are some of the thoughts that Marie considers when designing a space.
Marie has a regular schedule that she has implemented into her every day, and this includes time for exercise. Just a look at her Instagram page @mariesolimandesign will give you a glimpse at the super fitness level. Marie is an acclaimed artist and has works hanging in the most prestigious hotels and residences. She calls her painting time her “mental yoga”. Even if it is just 20 minutes a day, it’s the time she gives her brain to shut down to work on another frequency, tapping into another space, thinking in colours and textures. It is those two activities that she sticks to religiously that gives her the vitality and enthusiasm with which she tackles motherhood, being a wife and being partner in a firm that Issue No. 20 – Qandor – 079
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“There is nothing false about her, nor her vision, in a world full of fakery.”
now has grown to four different arenas of expertise. While the rest of the world was sitting on sofas in lockdown, Marie continued working daily in her office. Their apartment is in the Lamb Brewery Studio in Chiswick, with their offices located in a neighbouring building – a stone’s throw away from work. At first panic set in for a few days of the pandemic, but then the calls started to come in from clients. A home once only used for a few hours at night now became a space where people needed to be full-time. They needed more unique living areas. The work rolled in.
Then something fascinating happened. The super wealthy started spending time on their yachts no longer for a quick holiday but for a semi-permanent home on the water. Marie received calls from clients saying that they needed assistance to turn the spaces into inspiring areas for everyday living. And so Njord by Bergman Design House was born, the company’s super yacht division (Njord being the Norse God of wind and water). Eden was the first yacht project that the company took on, and Marie brought in a yachting lifestyle and design expert Sarah Colbon as the third partner in this venture.
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Since 2020, the super yacht market (as with private planes) boomed. These owners are not the middle-aged couples wanting to relax in the Caribbean – they are younger with many being crypto millionaires and musicians from Silicon Valley. Cassius was a 62-metre boat conversion on which they collaborated with naval architect Dennis Ingemasson. This was an existing boat transformed into a spectacular space that featured a full medical spa offering cryotherapy, Vitamin C enriched running water throughout the plumbing, filtered air in every room, snowmobiles, and a moon pool for a submarine. Marie sees the same challenge in recreating yachts as she does with her hospitality clients. It is all about rethinking the back of house, clever storage and privacy for clients with staff executing their tasks not encroaching on the space of the client. One couple approached them with a concept of turning their yacht into an experiential space. They loved Burning Man, the freedom of expression the festival was famous for and wanted to recreate the same vibe and luxury experience on their yacht. The yacht’s dance floor alone can accommodate 100 people. Details were introduced such as asking artist Dylan Cole who worked on movies such as Avatar to theme the club into something otherworldly and 094 – Qandor – Issue No. 20
playful. In the past, yachts all had the same approach. Used for a few days or weeks a year, all looked the same. With Njord, that has completely changed. Today, the Eden yacht is a permanent home to a family with children, the main focus being health and wellness. It features an infinity pool, a one-million pound piano as a centre feature. The bath made from quartz because of its benefits to skin and health took six months to make. A large gym and meditation area is also part of the health experience. The start of this organic yet stellar growth of Bergman was created by the buzz of one project, the Anthony Joshua BXR boxing gym. The firm took the stance of turning an industrial space into a clublike space rather than a gym. Another was a private rowing club when Marie took her time watching rowers on the Thames to let her artistic mind re-create the feeling of being in motion on water in an interior space. They used lighting to change colours and although some said it has a nightclub feel about it, the intention was about getting the rowers to get into the high energy mindset of the sessions. Marie wanted it to feel effortless with the lights motioning the rowers forward, enhancing performance. For Marie, the experience and yes, the emotion of each space, are what she strives for. Each project she touches must have a sensory experience that is allencompassing. The water in the bathroom of the hotels should be of the best quality. The lighting should be perfect. The details
of the experience of each aspect should not even be evident to the client or resident – it should just envelop the person to feel good about themselves. Her motto is “you should love yourself in that space. If you don’t, they did not succeed.” This even goes to technology used in room. Clients who have flown for ten hours are too tired to engage in iPods to put the lights dimmer. They think of every detail to simplify the experience. As a high-energy creative being, Marie does, if pushed, relent that she loves hospitality projects more than residential. Homemakers, especially pre-COVID, wanted what they saw in magazines. Marie feels COVID has been a catalyst for people to view residential in a new light. As people started spending more time at home, there was scope to do things differently, like searching for pieces from local British artisans instead of travelling to source, and giving projects to local companies who have been doing things for generations. Marie sees sustainability as very important in the future – using local, refurbishing antiques, thus cutting down the carbon footprint. Issue No. 20 – Qandor – 097
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The company has now branched into recycling or repurposing the pieces they use in their homes and hotels available for sale. Requests started coming in from the public when their projects were seen online. That is the fourth arm of their company’s offering. As for a specific signature style, Marie laughs that off. The firm does not believe in having a certain style because each client is different and has a different personality and needs to be taken into consideration. She says it is harder work, obviously, to start with a blank canvas for each client. But that is also where the fun comes in and bringing her energy comes alive. Albin, her husband, is the calm in her storm, and that makes the perfect team. He is the tonic to her gin, she says. Albin began working in Paris with a fashion photographer. The work ethic of the constant pressure of shooting became a norm to him. The framing of each shot, and the number of interesting locations they photographed harnessed his interest in interior design, and he went to study in Barcelona. Albin and Marie then worked together at Hirsh Bedner Associates and
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with the friendship that was formed a marriage, daughter and business. Marie is inspired, as with all artists, by theatre, fashion, but mostly with nature. That is where her sense of layering comes from that is evident in all her work. Textures are combined in surprising ways. Her style aims to be timeless. She has no interest in a trend. She insists that her clients must be happy in their spaces forever, not in a season. The next few months hold some exciting projects for their design house. This includes the Formula One residential estate at Silverstone. One of the biggest square metre residences in Mayfair, and naturally more yachts. An art collector has given them carte blanche on his house, the art being the central focus of the house. This project excites Marie, as it is how she approaches every space anyway - designing around the art within the room. Marie is also excited to work with this client as he is eccentric and that boosts her enthusiasm even more. The Lund Collection, will be launching in the Cotswolds in Spring 2022. This private cottage is located just a stone’s throw from Chipping Norton and Great
Tew and provides an oasis of calm people seeking a calm destination. Marie used original artwork and vintage treasures alongside new bespoke furniture from the studio’s Black Berg Collection. “What’s been so enjoyable about this project has been the ‘treasure hunt’ for the most incredible antique and vintage finds, all of which tell their own unique story while highlighting the beauty of the newer items next to them,” said Marie. But most exciting is the seven star spa hotel on an island in the fjords of Norway. Teaming up with Henry Cookson, from Cookson Adventures, the world’s leading luxury adventure specialist for clients expeditions while on the island. Experiencing nature has become of the most expensive hospitality experiences today. The thirteen rooms will be on stilts, touching the ground lightly. Part of the luxury is of course the whales which be able to be spotted from each room, and the Northern lights. Floor to ceiling fenestration will connect guest to nature at all times. They will be taking inspiration from ancient Viking history which they have been studying in detail such as the “Yggdrasil”
Tree (Sacred Norse tree of life), which has a bleached, aged look, and working around that theme. The unique nature of the surroundings, the traditional crafts form the area and culture will be combined for a whole new Norwegian luxury hotel experience. What is the key to all this success? If you have ever watched an interview on the internet of Marie, you will be astounded at the friendly, laid back way of her chatting, the humour and warmth of her Egyptian background that shines through. There is nothing false about her nor her vision, in a world full of fakery. When asked where she sees herself one day, she says she is going to run her own hotel chain. As for Albin, when asked the same question, he said he wants to run a coffeeshop on the beach for surfers. I think we can already sense who will win the bet… Q.
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DEVELOPMENT & CONSTRUCTION
HUNTING ELEPHANTS ANDREW MCDONALD Founder / Co-Founder Credo Living / Tandem Real Estate www.credoliving.co.uk www.tandemrealestate.co.uk
A number of years back while working in ‘corporate’, we were shepherded off to a hotel for the obligatory department ‘away day’ where we were compelled to bond and slap each other’s backs, confirming what good eggs we were and how we could make yet more improvements in our bid for market domination. In all truths, ‘away days’ when this time is spent amongst people you’ve chosen to build a business with can be rewarding, nourishing, rejuvenating 110 – Qandor – Issue No. 20
and, ultimately, fruitful. I say this with my professional Coaching and NLP hat on, but on the flip side, if uninspired employees are incarcerated for 48 hours in a faceless hotel instructed to get on with each other while working out a plan (usually while hungover) on how to enrich the CEO and shareholders, then this can be arsenic rather than food for the soul. It is beholden on the company to understand their individuals and what turns them on, rather than assume such tick-box activities are going to float all employees’ boats.
DEVELOPMENT & CONSTRUCTION
“Often referred to as ‘elephant hunting’, it may be that this agent can go a year (or two) without bagging a big one.” I’ve digressed. Back to my corporate ‘away-day’: one of the tasks we were given (naturally involving someone standing at the front of the room with a flip chart and felt pen) was to brainstorm what makes a successful property agent. Word salad was tossed and we had offerings such as: tenacious, likeable, thick-skinned, hungry, ambitious, a raconteur, legal knowledge, construction knowledge, architectural understanding, planning knowledge, trustworthy, the ability to ‘spin’ (facts & plates), a punchbag, a diplomat, bounceback ability, a positive outlook, a sturdy constitution (and liver), an understanding partner. The list could (and did) go on… Since departing the 9 to 5 and splitting my time between running my own commercial agency and commercial conversion platform, I’ve had my view of the property scene rather turned on its 112 – Qandor – Issue No. 20
head. I speak with a sweeping generalisation here, but the attitude within some agencies towards the SME developer is one of avoidance. To explain: property agents are remunerated based upon a percentage of the property value, assuming a transaction completes. So the bigger the deal, the bigger the fee. And the more reliable the buyer, the more likely the deal is to complete. Some commercial agents will only deal in properties with capital values in the tens of millions and with household-name clients (think: Pension Funds) who seemingly ensure reliability of performance, something not always credited to the SME developer. Often referred to as ‘elephant hunting’, it may be that this agent can go a year (or two) without bagging a big one. Other commercial agents are happy to work on smaller transactions to ensure cash flow and hope to lasso Trunky at some stage during their year (or career). Either way, the agent doesn’t get paid unless the transaction happens. I laud this in many ways as it means the agent is incentivised to shepherd a deal over the line. A core skill of a commercial agent is in managing a transaction, and this involves ensuring all cogs in the deal wheel rotate efficiently. Mostly the carrot is employed but I’ve seen the stick utilised to good effect, too. An agent should be able to use either when the circumstance dictates. I can’t profess to having an in-depth knowledge of most other industries, or indeed many industries. But I’d wager
I often hear complaints that commercial agents do not return calls, do not take small developers seriously, do not make an effort to help investors find deals. Common courtesy aside, what I would say is: ‘’Why should they?” Pulled from pillar to post with numerous plates spinning on a daily basis, a commercial agent is constantly working out how best to utilise his or her time to get deals done to pay for their two-week break in Dubai. One wouldn’t phone a lawyer or accountant and rage if they didn’t return your call or give you bountiful free advice. So why is the attitude towards commercial agents any different? As an investor/ developer, you’re as well to find a few agents you have chemistry with, stick close to them, and give the rest a miss. As an SME developer, your personal and company brand is essential in terms of gaining traction with a commercial agent: at each touch point and interaction, they will be assessing whether they are likely to earn fees through spending time on your requirement or in a deal with you. Pulling out of deals and/or not replying to commercial agents’ communication is also professional suicide for the SME developer: you can be sure that over Thursday night pints or Friday lunchtimes, the biggest transgressors of market faux pas are being verbally slighted amongst industry peers at the local hostelry. And you don’t want that to be you!
Issue No. 20 – Qandor – 113
DEVELOPMENT & CONSTRUCTION
that commercial agents spend more time providing free advice and at the beck and call of clients, potential or otherwise, than any other industry or profession. The treatment of commercial agents by certain clients can be lamentable. We spend years building up our knowledge banks only to proffer gratis advice on the basis that we may get favoured with some work down the line. If commercial agency was osmosis, most agents would be as dry and parched as dusty old bones. The majority of buying agents will also have a story to tell about a sizeable deal they’ve been working on for some considerable time only for their client to pull out at late notice and offer not a word of an apology or thanks for the hard work gone in. So wearing the two hats as I do now (both as poacher and gamekeeper), I have the privilege of seeing how the industry operates on either side of the fence. At developers’ network meetings, the reputation of the commercial agency industry is often dragged backwards through the mud. I rarely pick a verbal fight here, but if I was to, I would point out that we are bled dry of information and quite often completely undervalued for what we bring to the party. And without thanks. Commercial agents are arguably the grease that keeps the wheels of the property industry turning over smoothly and efficiently. A bit like a rugby no. 6; our work is often intangible, but also invaluable.
DEVELOPMENT & CONSTRUCTION
“Don’t tell me that a property deal is off-market and I won’t tell you that I’m a cash buyer.”
On the flip side, since entering the world of development, I’ve developed a huge amount of admiration for the plight of the SME property entrepreneur: they have true skin in the game, neck on the block, conduct an orchestra, are constantly let down by various ‘professionals’ and experience highs and lows which are hard to describe unless you’ve had the fortune (or misfortune) to witness it all. Both property agents and developers need each other, and there are many similarities between these two disciplines within the industry: a primary one being neither see a financial return unless a deal happens. 114 – Qandor – Issue No. 20
The same cannot be said of the developer whose work has only just begun when the agent has banked their fee. So, chapeau to the SME developer walking the walk as well as talking the talk. If both sides could acknowledge each other’s challenges a bit more, then I’d be confident of a better working relationship! Property agency and property development are fascinating fields, and much of my professional network outside of property simply cannot understand the nuances of the game and the wide range of characters involved. Selling widgets or charging oneself out by the hour just doesn’t hold a candle to the crazy world of property agency and development. And this is what makes our industry quite unique, eccentric, and exhilarating. I’ll leave this article with a quote I heard from a successful private property developer whom I spoke with recently. This was in my capacity as a commercial agent and summed up the relationship between agent and developer nicely. We were having a pleasant chat about our industry and he wryly signed the conversation off with: “Don’t tell me that a property deal is off-market and I won’t tell you that I’m a cash buyer!” We both laughed! If you know you know. Happy hunting. Q.
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CASE STUDY
FLAMINGO INVESTMENT GROUP: OPTION AGREEMENT WITH PLANNING UPLIFT TARIQ MUBARAK Management Consultant www.tariqmubarak.com
I had a Zoom catch-up recently with Nikhil Patel of Flamingo Investment Group regarding a planning uplift deal he secured a couple of years ago through an option agreement, which I recently helped him complete. It was a Zoom call because Nikhil 116 – Qandor – Issue No. 20
was in Florida, on his way to the Bahamas – the life of a property entrepreneur, eh?! Continuity House in Bracknell is a three-storey office building that was occupied by the owner-seller for his car and van rental business. It included a large surface level car park, where the seller was
storing their rental vehicles when they weren’t out for hire. It wasn’t an eyesore per se, but a different use, such as residential would certainly fit in better. Indeed, some of the neighbouring office buildings had been converted into residential use, so there was planning precedent. In July 2019, the seller was intending to consolidate his operation at this office into another office building he owned, so no longer needed Continuity House. The seller did, however, need time to move his staff and equipment to his other office so was keen on a long completion timeline. That’s an important factor, which we explore further below. The seller had put some feelers out through a couple of people but hadn’t fully
‘put it on the market’, i.e. with agents. One of those individuals the seller spoke to got in touch with Nikhil and asked if Flamingo Investment Group might be interested. I want to pause here a little and focus on this briefly. This was an individual that Nikhil had met at a networking meeting. He wasn’t an agent or a property sourcer but someone in the property industry. As you do at a networking event, Nikhil mentioned what Flamingo does as a group and vice versa. They met for a follow-up coffee chat and kept in touch periodically – as all good networkers do. That networking led to this opportunity being brought to Nikhil – further testament to the power of networking and the law of attraction.
Issue No. 20 – Qandor – 117
If you aren’t already, ensure you attend as many Qandor networking events as you can. Now, back to the case study. In August 2019, Nikhil went along to meet the seller and view the site. During that meeting, he spoke to the seller and found out his plans, including his preferred timeline. That knowledge and rapport allowed Nikhil to start formulating the outline of his offer even before he left the site. !"#$%& '()"(* I act for many property investors and developers, and one recurring theme I have found amongst those successful in securing and profiting from opportunities is that the investor/ developer builds rapport with the seller from the beginning. 118 – Qandor – Issue No. 20
That rapport is fundamental in convincing a seller to consider a non-vanilla transaction – such as an option agreement; it makes the negotiations somewhat easier and vitally, more likely to assure their cooperation during the planning application process or if an extension to the original timeline is required (usually as a result of delays in the planning process). Needless to say, that rapport needs to be an ongoing process, not just at the beginning when the deal is being done – ongoing rapport eventually builds into goodwill and that goodwill usually results in easier negotiations later – e.g. when the owner’s cooperation is needed on any S. 106 or similar agreements or extending the original time limits.
PLANNING & DEVELOPMENT
Bearing in mind the option agreement was finally exchanged in February 2020 and about a week or so later, we went into our first COVID-19 lockdown, with the resulting delays in the planning system, that rapport turned out to be invaluable. In fact, given the seller’s motivations and timeline, and being a commercial individual – a business owner, he clearly had consulted his commercial property solicitor prior to marketing the property. As such, the seller was keen on an exchange of an unconditional contract with a long completion date or at the very least, a conditional contract with a completion date of X days after planning permission was granted. He did also indicate he was willing to consider an option agreement but was more keen on the unconditional or at least conditional contract route. The exchange of an unconditional contract with a long completion date would give the seller exactly what he wanted – namely certainty that the property had been sold and a fixed timeline to which he could plan the move of his business operations at this site to the other office they occupied. There were of course a couple of difficulties with this approach from a buyer’s perspective. First, if purchasing with finance, the valuation will be based on the passing rent. Here, the property will be sold with vacant possession on completion so there would be no rental income upon which the valuation could be calculated, thus potentially down valuing the property.
Furthermore, vacant possession would result in hefty holding costs until a new occupier was found. Second, the price the seller wanted meant the deal didn’t quite stack as an asset management play, i.e. a pure investment property. This was exacerbated by the fact that the property was being sold with vacant possession on completion. The deal only really stacked as a development play, which meant buying it with planning permission to develop into residential units. Exchange of a conditional contract with completion being X days after planning permission was granted was not appealing to Nikhil since if the planning process took longer than the long stop date set out in the contract, then not only would the deposit paid on exchange be forfeited, it would also mean there would be immense pressure to arrange finance in a very short period of time to complete the purchase. For those reasons, Nikhil preferred the option agreement route. Issue No. 20 – Qandor – 119
CASE STUDY
!"#$%& +#,* I frequently get involved with Nikhil and my other clients when the offer is being formulated and the heads of terms are being drawn up. My extensive experience in this area enables me to foresee some of the potential friction points during the legal process. I find that when the heads of terms address as many of these up front as possible, some of that friction is reduced or eliminated altogether because it makes it more difficult for the other party and their solicitor to renegotiate those terms. This makes the legal process easier and thus quicker, which is my preference, in recognition that it is the planning phase that adds the most value to the transaction – the legal phase is merely a means to the end goal – securing the transaction to capitalise on a planning uplift play. As soon as the option agreement was exchanged, Nikhil and his architecture and planning consultancy team went about securing permitted development rights for the conversion into seven residential flats. Nikhil and his team then submitted an application for preapplication advice to the local planning authority for the demolition of the existing building and erection of a fivestorey building to provide 27 apartments, comprising one or two bedrooms with associated parking. Following feedback on the pre-application advice, Nikhil and his team submitted an application in 120 – Qandor – Issue No. 20
December 2020 for pretty much the same as the pre-application advice but reducing the number of units to 21 apartments instead. That application remains pending but is in the final stages of being approved. Such have been the delays in the planning system, exacerbated by the COVID-19 lockdowns. !"#$%& +#,* Always expect the planning process to take much longer than you expect, then multiply that by 1.5-2.5! That way, you won’t have the rug pulled from under your feet by the option agreement period expiring whilst you’re still waiting on that planning permission coming through. It makes for a challenging negotiation with the owner, but there are ways of approaching the negotiations that make this less challenging. Q.
!"#$%& '()& )'& *+,%+-& '.& /"& +0& 1'(& 2'(-3& -+,"&)'&"45-'."&)%"6"&'.&#71)%+78&"-6"&6)#)"3& #9':"; www.tariqmubarak.com
PROPERTY FINANCE
MICHAEL BRISTOW CEO & Co-Founder CrowdProperty www.crowdproperty.com
Following on f rom CrowdProperty’s initial review of ESG with specif ic reference to ‘Environmental’ matters, in this article, the focus turns to its often overlooked ‘Social’ sibling – unpackaging its meaning and its importance generally. We also 122 – Qandor – Issue No. 20
consider its relevance within a real estate context and f rom a lending perspective. Given its common usage, most will be familiar with the term ‘social’. The Cambridge dictionary advances various definitions, including ‘relating to society
and the way people live together’. Whilst generic, we can nonetheless conclude that it is intrinsically linked to people and their behaviours, arguably towards those around them. In particular, it is a focus on how the outcomes of those behaviours affect others directly and indirectly. But how does this translate in a commercial context? The ways in which an organisation might seek to harness this ‘social’ element of ESG are broad ranging, considering both its internal and external behaviours, and the overlap between the two. From an internal perspective, the way a business engages with social elements might be best illustrated through its approach regarding diversity and inclusion, for example, to the health and wellbeing of its staff. Looking externally, many organisations might be involved in supporting local charities. Of course, for some organisations, their sole purpose will be one of a social nature. For many, the most obvious illustration of socially geared organisations would be those with a charitable structure or base. Furthermore, charities’ strategic objectives will be to support a specific group or demographic. From a real estate perspective, immediately identifiable examples might include organisations such as housing associations: at their core, there is the desire to ultimately house individuals through the facilitation of new and existing accommodation. L&Q, one of the UK’s largest registered providers, states its remit is to ‘provide homes and neighbourhoods’ on the basis ‘everyone
deserves a quality home that provides them with the opportunity to live a better life’ – a sentiment many of us would align with. Interestingly, this perspective reaches beyond just focussing on the importance of building a dwelling but how that dwelling interacts with its local environment. It is arguably implicit, therefore, that the very nature of house building is a social one – in its primitive form, providing shelter, but more broadly to creating or improving communities and social cohesion. Regarding the latter, this is ultimately being achieved through the provision of affordable housing to intergenerational schemes, much favoured in European countries such as Holland. And so, whilst there needs to be a focus on house building generally, ensuring they are affordable is also a key element. Clearly though, any social focus would not be complete without the consideration of the environment. Naturally, there is an overlap between both these ESG limbs – the environment becoming one of growing importance. In a recently commissioned government report on boosting housing supply, Richard Bacon MP identified a number of key proposals including promoting greener homes and using advanced manufacturing techniques. Dovetailing with our first article on ‘Environmental’ matters, we all have a social responsibility to support the environment. Through building better houses – notably those which incorporate
Issue No. 20 – Qandor – 123
modern methods of construction, ecofriendly and sustainable products – we can provide homes that are suitable for and accommodate the end user. From our previous article, lenders need to be focussed on their role and recognise that they play a key part in facilitating the adoption of sustainable development practices and greener products. In particular, we need to move the conversation beyond the ‘cost’ hurdle. Indeed, only by continuing to discuss the importance of ESG can we hope that these elements will be better adopted and so, for example, modern methods of construction become the norm. Indeed, as one of the leading contributors to climate change, the onus is on the sector to proactively engage with ESG. From a CrowdProperty perspective, we continue to re-examine the way we can improve our approach to ESG – particularly the social element. Looking internally, we understand the importance of diversity and inclusivity, putting it at the core of what we do. This also allows us to better understand and engage with the market around us. Working in such a specialist field requires specialist training and so we are focussed on providing our employees with the best opportunities to grow and tackle the challenges this sector provides. And so, whilst our Property team includes a number of Chartered RICS Surveyors, we are committed to supporting junior staff on their route to MRICS status. Looking externally, we recognise there is a role for us to play, whether through internal CrowdProperty fundraising 124 – Qandor – Issue No. 20
events, through to supporting St Basils directly, a local charity based in Birmingham, providing supported accommodation schemes across the Midlands. More generally, whilst we welcome requests for funding, we strongly encourage applications for projects with strong social merit. We recently had the great pleasure of supporting a borrower to convert existing agricultural barns into specialist holiday accommodation for disabled users, and we aspire to positively expand our social footprint. As mentioned in the previous article, we continue to look at how we can innovate to support the market by developing products to meet the needs of developers. We have a particular focus at the moment on sustainable construction and modern methods of construction which tie together. !"#$%& "#'(" ) *+ ,-.+ /01%(%+ #2("+ 345565556555+ #/+ '"#'(")*+ '"#7(8).+ 9*+ :;<+'"#'(")*+'"#/(..=#1->.6+/01%=1?+),(+ %(2(>#'@(1)+#/+@#"(+),-1+A6555+,#@(.B+ C,=.+=.+.)=>>+70.)+),(+.)-")+#/+#0"+@=..=#1+)#+ )"-1./#"@+'"#'(")*+/=1-18(+)#+90=>%+@#"(+ ,#@(.6+=18"(-.(+.'(1%+=1+),(+DE+(8#1#@*+ -1%+(2("+@#"(+(//=8=(1)>*+-1%+(//(8)=2(>*+ @-)8,+),(+.0''>*+-1%+%(@-1%+#/+8-'=)->+ /#"+),(+9(1(/=)+#/+->>B+C#?(),("+$(+90=>%+-+ 9())("+/0)0"(B F''>*+ =1+ G+ @=10)(.+ /#"+ -+ %(8=.=#1+ =1+ A4+ ,#0".+-) www.crowdproperty.com/apply.
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MEMBER PROFILE
DORIAN PAYNE
When did you join Qandor? I joined around December 2019, just before the first lockdown!
What is the best thing about working in property? It’s all I’ve ever known! I’ve spent a significant time trying to develop a holistic understanding of the entire property investment, management and development business. I find the entire scope of what ‘property’ means, so full of opportunity! The ability to leverage and do amazing, life-changing deals can be unbelievable. The idea of creating something tangible that will stand for
What are you working on currently? So much! My core business, Castell Group currently has over 320 homes in the secured pipeline with a combined gross development value (GDV) in excess of £50,000,000. We are scaling at a rapid pace, and coupled with having secured family office investment and forward selling and receiving funding from Registered Social Landlords, our capabilities have increased tremendously. The phase 1 goal is to grow Castell Group to be delivering 250 highquality, highly sustainable, affordable, social and adapted homes for those disabled, throughout South Wales, per annum. In addition to this I am also heavily involved in a mixed investment portfolio, which comprises over 160 different properties, ranging from residential, commercial, semi-commercial, industrial and land. Also I have a hospitality business in Scotland where we convert buildings into serviced accommodation, and we are acquiring our first trading business (hotel) and developing 14 luxury lodges in the grounds, using a vendor finance deal structure. This deal is worth £4M and we have used none of our own funds.
Issue No. 20 – Qandor – 127
MEMBER PROFILE
How did you end up working in property? I’ve fortunately been involved in property since a very young age. My dad is a builder and I used to be on building sites throughout my school years, stripping wallpaper, making tea etc! I didn’t like being hands on, so I started helping my mum manage their rental portfolio. When I was 16 I set up a letting agency, scaled it into an estate agency, residential and commercial finance brokerage and then starting working with investors on my own deals. I started with buy to sell (flips), buy to refinance to refinance and rent (BRRR), then moved into commercial conversions and then new build. Along the way I’ve become qualified in accountancy, lettings and management, residential sales, mortgage advice, equity release, and I’m just finishing a master’s in quantity surveying.
over 100 years (hopefully) and be home to generations of families is a great feeling. The people I have met along the way and relationships I have developed have been amazing.
MEMBER PROFILE | DORIAN PAYNE
What is your ideal project? I am a massive fan of forward selling and forward leasing. My ideal project is the ones we typically do in Castell Group, whereby we find land opportunities, find a corporate tenant (Co-Op, Greggs, Tesco etc), or a buyer such as a Registered Social Landlord (RSL). Then we will secure the site (assignable option ideally) and take through planning with the goal of obtaining a planning uplift, then we will ideally sell the land to the RSL and they will fund us to build it out, or we will hold the land if it’s a corporate tenant, fund and build it out ourselves and sell the deal on to an institutional investor at a low but healthy yield. What are the biggest obstacles facing developers at the moment? We are facing many obstacles. The big one for us at the moment is rising material and labour costs, which has been completely unprecedented. The one downside of forward selling a development is that you don’t know how the costs are going to move and you typically lose any capital appreciation. This is why we are very particular with the areas we develop in, and currently have a system that is working. One of the other major problems is the speed in which local authority planning teams are making decisions. 128 – Qandor – Issue No. 20
They are so under-resourced that developments are being held up for months on end. It genuinely takes on average 18 months to get on-site if we have to go through the planning process. This should be so much sooner and I hope it changes in the future. Who would be your ideal guest speaker at a Qandor event? I would definitely like to hear from a landled developer and main contractor that has scaled a business to be delivering in excess of £10M in projects per year, or 100+ homes per year. Castell is set to deliver 140 homes within the next 18 months and break 200 the 12 months after. It would be great to understand how others have managed the growth and what systems/ processes they have put in place. How does being a member of Qandor add value to your business? Being a member of Qandor has allowed me to broaden my network with likeminded developers, business owners and individuals. It has also allowed me to learn some valuable new skills and make new supplier connections. Overall it allows me to take some time away from the business and for a short while, be immersed in what others are doing, what’s working, what isn’t. It’s fantastic and would recommend it to any aspiring property developer.
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