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Partnering For Profit

Brighton based developers Tina Welham and Rachelle talk with Richard Bowser

Never sell is an old cliché amongst ‘old school’ landlords but for those with a property development mindset, selling for profit is logically the end goal.

Taking your profits from a deal is unlikely to see anyone lose money, unless HMRC decides to take a disproportionate slice.

With the above in mind I recently met with south-coast based developers Tina Welham and Rachelle at their current project in the centre of Brighton.

The business partnership between them is their first one working together and Tina explained more. - “It is a joint venture (JV) relationship with Rachelle and myself as equal partners and it works really well - Rachelle brings contacts and networking as well as a social brand presence around the project which has been great. This really helped with the crowd-funding element to promote the opportunity and in fact we were fully funded within nine hours of going live. She also has a great eye for design and has worked well with Shelley in our office to bring the vision we both had to life.

“I work with Target Five and we brought the developing and converting experience and have run the whole project through them. This includes the infrastructure around project management and problem solving, planning strategy and knowledge, as well as a reputation in the local area for performing well.

“It’s a lovely old building in a great location with excellent footfall in central Brighton,” Tina added. “The ground floor commercial unit was previously used as a Vape shop and has four floors in total with a large basement area. Planning was granted for a 7-bed scheme, with 5 en-suites and 2 with off-suite bathrooms for holiday let usage over the four floors and with an open plan kitchen/living/dining area on the lower ground. This is the ideal plan for this property alongside the street facing, ground floor commercial unit as the location is so central, and close to all that Brighton famously has to offer including the Lanes and the seafront.”

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