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Projects Completed

COMPLETED DEVELOPMENT – BAYFORD ROAD, LITTLEHAMPTON

This mixed use property, consists of a commercial unit on the ground floor, which was recently used as a cafe with a 2 bed maisonette above.⠀⠀⠀⠀
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We have converted the maisonette from a 2 bed, 1.5 bathroom, to a 3 bed with 2.5 bathrooms. By repurposing the kitchen to a bedroom with a separate open plan kitchen/living space.⠀⠀
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Things have been so busy we forgot to share the furnished and professional photos!  with thanks to @pro.pro.photography⠀

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COMMERCIAL PROPERTY CONVERSION OF THE YEAR – PROPERTY INVESTOR AWARDS 2021

Last night Target Five Property Consultants were announced winners of Commercial Property Conversion Of The Year 2021 at the Property Investor Awards 2021. “We are really proud of this award and it is very much the culmination of a great team push the last couple of years. Whilst we have been doing commercial conversions for years, we have really honed our craft and this year and the ones coming up will be even better. target Five is effectively a cooperative of accomplished property professionals that it is a gift to be able to work with. Well done guys, Tina, Tim, Sven, Shelley and Loren at Team T5 you are all amazing.” – Andy Babbayan 

 

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NEW DEVELOPMENT PROJECT – QUEEN STREET, LITTLEHAMPTON

As we reach the end of another busy week, we are excited that another property in our pipeline has exchanged!⠀ ⠀

Queen Street a mid-terrace building in Littlehampton, West Sussex.⠀The property has previously been leased to a local housing charity providing accommodation across the six bedrooms. With special thanks to Richard and the fantastic team @starpropertyuk always a pleasure to work with you all. ⠀

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STAGES OF PROPERTY DEVELOPMENT – STRUCTURING LAND DEALS

Part 4 of Sven’s video series on The Stages of Development, has landed! here are his Deal Options:

Unconditional Purchase: is the most basic form of purchase and in our opinion ‘quite dodgy’ if the land does not have planning, we don’t use this option very often!

Conditional Land Purchase Contract: once conditions have been met such as planning the developer is obliged to buy the land.

Option Agreements: Our favoured method of deal.  A contract with a set time, a long stop date and set price.  It gives the developer the option of purchasing the land in that time frame, allowing the developer to obtain planning, undertake due diligence and to purchase the land if they still want to.

Promotion Agreement: Between the land owner and developer, usually the developer will do the work to promote the land i.e. get the planning, then sell to the open market.  Splitting the profit with the land owner.

Joint Ventures: These can take many forms, usually between land owner, developer and a finance partner.  Who come together with an agreement to suit all parties.  Make sure there is CLARITY on this agreement, highlighting what everyone’s roles are and what they are bringing to the table.  Our advice is to try not to partner with people who have the same skill sets as you, compliment not duplicate!

There will be a total of 8 videos in Sven’s series on The Stages of Property Development, missed any? don’t worry you can find them all on our news page, scroll down.

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TARGET FIVE ARE FINALISTS IN THIS YEARS PROPERTY INVESTOR AWARDS

We have received some exciting news, we have reached the finalist stage of the Property Investors Awards 2021 for the following categories;
– Co-Living Deal of the Year
–  Commercial Property Conversion of the Year
–  HMO Property Investor of the Year
–  Property Deal of the Year

Becoming a finalist is a great achievement, especially after the past couple of years with the challenges of Covid and how this impacted the industry and business. We are lucky enough to continue to thrive, which is down to the fantastic team we have and all their hard work.

Fingers crossed for the winners announcement coming soon!

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PROPERTY INVESTMENT & DEVELOPMENT COMPANY OF THE YEAR – SME AWARD WINNERS

Southern Enterprise Awards have announced us as winners of ‘???????? ?????????? & ??????????? ??????? ?? ??? ????’⠀

We are very proud of the hard work that team T5 put in everyday. Here’s to the future and fingers crossed for more to come!⠀

This award goes to show hard work and tenacity pays off even during a pandemic!. We couldn’t have done it without the effort and support from @brightonrenovations @ccrdryliningltd @focus_brighton @bpmarchitecturalservices and of course @whaleback.ltd

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ANDY BABBAYAN JOINS THE PROPERTY ENTREPRENEUR BOARD 2022

We are excited to announce that Target Five’s Director, Andy Babbayan, has been elected to serve on the Property Entrepreneur Board (part of the PPN UK Group), for 2022

Andy is currently in Birmingham @thebelfryhotelandresort as we speak on day 2 which see’s the start of the new course year for the PE applicants.

We checked in on Andy this morning to see how thing’s were going?
“Absolutely buzzing after the first day of the PE Board 2022. Really proud to be joining such an illustrious bunch of Uber achievers. More than that though, so refreshing to see such honesty, humility & genuine interest in others from such a group. It’s going to be a great year!”

It’s not only Andy involved with PE, Tina is also following the Advanced course/workshops with Tim and Sven on the Programme course. The courses enable us to execute the next level of business strategy, systems, raising & refining finances, building a world class team and moving into niche & market leading positions that deliver sustainable levels of growth & the lucrative returns of both time and profit.

To find out more about Property Entrepreneur and their programmes, please click the link https://buff.ly/3gWOnWJ #propertyentrepreneur

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CLT MODULAR NEW BUILD – SITE UPDATE

Six days ago our flat pack Carbon sustainable development (Cross Laminated Timber (CLT), Modular Construction), was delivered from Austria, all 25 tonnes!

Today we have been to site and the rooms are taking shape with the first few panels in place, very exciting – fingers crossed the weather holds out ?⠀

Thank you to @rjlandanddevelopment and ⠀
@cseeinvestments for helping to document our new build journey.⠀

We will keep you updated of course with progress, it’ll be coming thick and fast now!⠀

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NEW DEVELOPMENT PROJECT – BAYFORD ROAD, LITTLEHAMPTON

Our latest Littlehampton project is underway. This mixed use property, consists of a commercial unit on the ground floor, which was recently used as a cafe with a 2 bed maisonette above.⠀

Target Five’s plan is to convert the ground floor commercial into a one bed apartment (plans currently being drawn up by our Architect. The maisonette above will be developed from a 2 bed, 1.5 bathroom, to a 3 bed with 2.5 bathrooms. By repurposing the kitchen to a bedroom with a separate open plan kitchen/living space.⠀

Our builders are onsite and have started the rip out, which is casuing a bit of a headache already as they have identified condensation spores, as there are no damp proof membranes, in fact we have daylight through the slate roof tiles! so a re-roof is in order.⠀

We will keep you up to date as this development progresses.

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STAGES OF PROPERTY DEVELOPMENT – DUE DILIGENCE

In the third of Sven’s video series on The Stages of Development, he is looking at the key points when undertaking Due Diligence:

The 4 Key Points To Follow:
– Legal due diligence; looking at searches, land registry, titles.  Are there any easements or covenants?

– Physical site due diligence; boundaries, topographical survey, soil samples, percolation tests.  Some of these tests can only be done at certain times of the year, so you will need to factor this in, especially if you’re offering option agreements/subject to contract agreements.

– Planning due diligence; MOST IMPORTANT.  We recommend using a planning consultant! This is where the value is most definitely added!

– Construction & onsite due diligence; is it feasible? What are the constraints, especially for airspace developments, mixed use conversions or mews developments.