10th December 2007
Ease your development burdens by pre-selling to Imagine
As the house building market faces challenging conditions, now is the best time for developers to consider additional options for releasing stock. Imagine Homes, the leading UK buy to let specialist offers developers the opportunity to reap financial benefits as soon as planning consent has been granted. With further backing from a major financial institution, the Imagine Homes Group now has £250 million in investment equity, allowing the company to purchase quality properties, in top locations. Imagine Homes alleviate the uncertainty of property investment for their clients, but also aim to remove the risk of the sales process for developers.
Grant Bovey, Head of Acquisitions and CEO of Imagine Homes believes the benefits for developers are clear.
“Imagine Homes look to buy into developments 6 months to 2 years ahead of completion. We are able to purchase complete sites or a selection of stock that we market and sell, allowing developers to focus on other areas of the development process.
“We have found that publicly-listed companies often want to record a transaction at a certain time, and by selling to Imagine Homes at an early stage their results are more favourable. In other cases, especially with larger developers, they may have multiple sites located close to each other so are happy to sell a site to Imagine Homes and save on sales and marketing costs. We also assist developers who need to free up sites or stock so they are able to reinvest,” comments Grant Bovey.
Jo Darragh, Mandale Group Director recently sold a development to Imagine Homes. “We were pleasantly surprised by the number of financial benefits we received through our relationship with Imagine Homes. The savings on sales and marketing costs were considerable - around £250,000, plus around £75,000 in additional hidden costs. Furthermore, the time that has been saved by selling to Imagine Homes has enabled us to continue with future developments.”
Imagine Homes has recently purchased developments in High Wycombe, Birmingham, Darlington, Canary Wharf, Cardiff and Manchester.
To speak to Imagine Homes’ acquisitions team about your development, please call 0808 180 0463.
For further information, please contact Amy Nowell, TTA Group on 0207 886 0224 or email: anowell@ttagroup.co.uk