1st April 2008
The Business Magazine - Thames Valley
Since 2004, Imagine Homes has experienced exponential growth and become a leading player in the UK buy to let industry.
Starting with just four employees, entrepreneur Grant Bovey has "revolutionised" the UK investment property market. Imagine Homes nowadays occupies bespoke offices on Farnborough Business Park, Mayfair, and Canary Wharf and has overseas offices in Dubai, Singapore and Ireland. It employs more than 120 staff worldwide.
This impressive growth has been achieved by establishing a distinct brand with an innovative business model within its sector.
Imagine Homes sources off-plan property in potential growth areas for investors to purchase. On completion, the company furnish the property, then find and manage reliable tenants for the first two years. During this time, investors receive an above average annual rental income of 7.5% of the purchase price.
The success of this unique business model has helped secure financial backing to take the business even further. In September 2007, Imagine Homes announced a £37.5m equity and debt-investment package to support an ambitious expansion strategy.
"Our vision has always been to build the first brand within the UK buy to let industry," said Grant Bovey, CEO of Imagine Homes. This differentiation has established Imagine Homes as the UK buy-to-let specialists for a global audience of investors.
"Our success has been achieved through ambitious growth targets and pro-active changes to market conditions. We embrace a culture of entrepreneurialism and innovation," said Bovey
Managers are well briefed to maintain commercial momentum, but given the freedom to work effectively within a given budget. Such autonomy leads to creativity and pro-activity with quick decision-making.
Innovation and entrepreneurial spirit remains a corner stone of the company's future growth. 2008 promises much for Imagine Homes. In May the company will open the UK's first buy-to-let showroom by London's bustling Hogarth roundabout at Chiswick.