Boston Post Office, Commercial Conversion
This is a great episode if you want to get into commercial conversions as Shaz takes us through his latest project the conversion of a grade 2 listed post office into twenty two mixed flats and a ground-floor commercial space
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Show Notes
This is a great episode if you want to get into commercial conversions as Shaz takes us through his latest project the conversion of a grade 2 listed post office into twenty two mixed flats and a ground-floor commercial space
He goes through the numbers and shares valuable content about working with lenders, the loan-to-cost figures and the GDV, listen in to hear why commercial conversions should be part of your property development portfolio
KEY TAKEAWAYS
- We agreed to buy with the condition of planning within 12 months
- Loan-to-cost is an important factor
- The loan to GDV is also an important figure for the lender
- The parameters may change according to the deal
- We will have over a thousand pounds in our pockets as profit every week
- There will also be capital appreciation
- Work out the cost per square foot at the beginning, the cost to redevelop and calculate the value per square foot at the end
- The rental income covers the costs and you are creating profit and capital appreciation
BEST MOMENTS
‘Don’t worry if planning hasn’t come through when the conditional contract ends keep working towards completion’
‘The whole thing works beautifully with commercial conversions’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: