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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Keep Knocking (on doors)

Tim Hodges of Vincit Developments outlines how their latest development project came about

At the time of writing we've just exchanged on a site in Hornchurch, which has planning in place for nine two-bed flats. We are very excited about the potential of this site, as there is scope to enhance the planning to include a further two flats or pending, section 106, a 20 unit site.

Before I give you the figures it would be prudent to give a brief background on how this deal came about.

Prab, our CEO, went to view a house in May 2015 to buy as a family home, but instead of buying the house they became friends with the owners who also owned a garage in Hornchurch. After a time the garage owner mentioned that he knew a guy who owned a site across from his business who was looking to sell. It wasn't on the market as the owner disliked agents and preferred to use his own resources.

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