Property Developments
360 Property has an impressive track record of developing sustainable commercial and residential properties across Bristol and South Wales.
During the last five years we have built up a trusted team of architects, builders, surveyors and suppliers. More importantly, we have developed a reputation of a company that people want to do business with. This means that we are able to source quality people to work with delivering a personal, consistently high level of service for our clients and partners. Most of our developments to date have been built for our own letting purposes
We have transformed a dying 100 year old wallpaper & paint retail business with 6 shops that was heavily loss making and haemorrhaging money into an asset rich property rental business, 360 Ventures Ltd. This all started in 2007, the start of the property crash!!
Development started off by converting the existing family retail shops into improved shops and convert the empty space upstairs into apartments and letting out.
Here you can find out more about our developments
at a Glance
Brynmawr - 2008
With the assistance of £100,000 Town improvement grant the external parts of the building were brought into good repair, new roof, render, shop fronts, significant asbestos removed. Also a derelict adjacent shop was brought back into use. Both properties have been retained and let out.
Spend
£180,000
Tredegar - 2012 & 2014
Conversion of run down shop into a modern Coffee Shop and empty 1st floor store room converted into 2 x 2 bed apartments. Building retained and let out.
Further work carried out in 2014, £35k - New shop front and pitched roof. All currently let out.
SPEND
£100,000 +
£35,000
Pontypool - 2009
Conversion of empty 1st floor into 4 x 2 bed flats and updating shop and new shop front. The shop has subsequently been divided into 7 micro units which suit start-up and small businesses. Property retained and let out
SPEND
£250,000
ABErgavenny - 2011
(phase 1)
Conversion of empty space above shop into 2 x 2 bed luxury apartments. Originally let out to tenants they have now been converted to serviced apartments and managed by our sister company (www.cosydragons.co.uk)
SPEND
£80,000
Abergavenny - 2013
Conversion of derelict space above shop into 5 x 2 bed luxury duplex apartments and main shop into 4 units. Work involved stripping roof and replacing, stabilising structure. This is the Old Police Station and Magistrate Court. Whilst not listed it is classed as a building of special interest. Funding was provided by Barclays Bank.
Initially let out as standard lets the apartments are now serviced apartments and let by our sister company (www.cosydragons.co.uk)
SPEND
£350,000
Bristol - 2013
Purchased a 2 storey office above a bank and converted into 4 x 1 bed flats and sold at a £150k profit. Agreeing the purchase took 8 months. The build just 6 months! All 4 apartments were sold to a single investor. Funding provided by Regentsmead
SPEND
£180,000
Tanglewood, Abertillery – 2015 New Build
Purchased 2 adjacent sites. Development funding provided by Barclays
Phase 1 - 6 x 3 bed houses completed late 2016. This is the very first new build project and the first project wehere we managed all of the workforce and bought all of the materials. A very steep learning curve!!
This phase involved moving significant volumes of earth some contaminated by a previous developer. The project went well and houses sold / let well.
SPEND
£600,000
Tanglewood, Abertillery – 2020
Phase 2 - 6 x 3 bed houses. Mid 2020
SPEND
£…?
Ebbw Vale - 2014-2015
Complete gutting and conversion of 3 storey 10,000 sq ft retail building into 8 x 1 bed flats and 10 retail units. Involved replacing the existing roof, cladding whole external of building, taking the floors out and replacing and creation of new units.
Completed April 2015. Property has been retained and let. Funding by own Pension fund. Grant funding of £100,000 also secured. Re-financed by Lloyds Bank
SPEND
£800,000
Pontypool - £10k
Conversion of shop into 7 micro units. This was a strategic move to make the shop more rentable in what is a difficult town.
SPEND
£10,000
Brynmawr – 2017
Splitting exiting shop into 2. This was a straight forward conversion, splitting off a unit, installing a kitchen and toilet. It enable me to let the property out to a tenant at £6k per annum.
SPEND
£6,000
Tanglewood, Abertillery – 2019 New Build
Phase 2 - 6 x 3 bed houses. Planned start early 2019. This project is a mirror of Phase 1 with some advantages. During Phase 1 a significant amount of earth was moved which was very costly and time consuming. A decision was taken at the time to clear Site 2 at the same time. So the effort and cost of this work has been absorbed during Phase 1. The Phase 2 site is now ready to build on.
Phase 2 will be managed by an experienced team who the project will be sub-contracted to whilst 360 Property Ltd will supply the materials saving on costs.
Exit strategy – Sales are the preferred exit strategy. Initial marketing will begin as soon as the project starts. I have a very good relationship with the local agent but will look at dual agency; using a local and national agent. I will be able to refer to the 6 houses built next door as an example of the design and build quality. Changes to the layouts will be made to make the houses more appealing following feedback on the first 6. As these are the last 6 to be built on the site I am happy to retain any unsold units and refinance on a BTL basis to pay off the development finance and let out. Demand for rental houses in this road are very high.