OVERVIEW: CASE STUDY - Planning Uplift Project
Please note that all the information provided below and in the following tabs has been supplied by Smiling Properties and it has not been verified by LEOcrowdfunding.
Executive Summary
Becky Brignall, the founder and director of Smiling Properties, has over 16-years’ experience as a project and program manager within the IT sector. In 2017, after a successful and accomplished career as a project manager, Becky was ready for her next challenge and started to transition out of the IT sector and into property.
Smiling Properties engage property professionals on a project-by-project basis, dependent on the type, size and location of the project and they aim to engage the relevant experts with the appropriate experience and track record.
The development project detailed in this case study was Smiling Properties’ first solo development. Prior to this Smiling Properties was an angel investor on three property development projects.
The Project: Location
Downham Market is situated in Norfolk, between Peterborough, Kings Lynn and Cambridge.
The site at Ryston End is situated on the town boundary and is a 10 minute walk to the town centre and 15 minute walk to the train station.
The Project: Details
In 2019, Smiling Properties purchased a 3-bed detached house at auction which came with an adjoining plot of land. The development project was split into two parts which ran parallel:
(1) Large extension and refurbishment of the existing house, and
(2) One new build house
(1) Large extension and refurbishment of the existing house, and
(2) One new build house
The plan was to split the title and sell both properties. Planning permission for a large two storey extension turning the house from a 3- bed to a 4-bed family home was granted promptly. The house, garden, asbestos and topsoil were cleared ahead of the build team starting. Works were subsequently paused until a planning decision was received on the new build.
One and a half years were spent attempting to gain planning permission for a new build in the garden. However, by the end of 2020 we had not been successful. The main reason for planning refusal has been detailed on the lessons learnt section in the offer document.
Over the summer of 2020 positive pre-app feedback was received highlighting that the council would support a pair of semi-detached houses on the plot whilst demolishing the existing house. This scheme would be less financially viable, so it was decided to sell the site and move the funds on to other projects in our pipeline. You can read more about the outcome of this sale in the offer document, as well as lessons learned.
Over the summer of 2020 positive pre-app feedback was received highlighting that the council would support a pair of semi-detached houses on the plot whilst demolishing the existing house. This scheme would be less financially viable, so it was decided to sell the site and move the funds on to other projects in our pipeline. You can read more about the outcome of this sale in the offer document, as well as lessons learned.
FINANCIALS
Downham Market, Norfolk
The purchase was financed using a LendInvest bridge and Smiling Properties’ company seed capital. At the end of the 12 month bridge term Smiling Properties paid off the bridge again using its own company funds. The property then remained unencumbered until its sale.
Becky Brignall
Developer & Program Manager
Becky, the founder and director of Smiling Properties, has over 16-years’ experience as a Project and Program Manager within the IT sector and transitioned into Property Investing and Development in 2017.
Becky program manages the development projects from the initial site finding stage, through the build phase and then the onward tenanting.
Becky program manages the development projects from the initial site finding stage, through the build phase and then the onward tenanting.
Jonathan McDermott, Town Planning Expert
Planning Consultant
With some 18 years experience in the planning industry, Jon McDermott is a Chartered Town Planner and Educator in planning and development.
As the Principal Town Planner at Town Planning Experts, Jon is also an active member of the MRTPI – Member of the Royal Town Planning Institute.
As the Principal Town Planner at Town Planning Experts, Jon is also an active member of the MRTPI – Member of the Royal Town Planning Institute.
Nick Leeding, Leeding Projects
Construction Project Manager & Main Contractor
Nick is a Cambridgeshire based developer, project manager and educator within the residential development sector. Nick runs and project manages construction sites, and has over 18 years experience - www.leedingprojects.co.uk Nick also partners with Whitebox property solutions which offers training and mentoring for property developers - www.whiteboxps.com
Ian Gowler
Gowler Architectural
Ian is an Architectural Technician who has over 10 years’ experience in Architectural Services and 20+ years’ experience in the construction industry.
Ian works on small domestic extensions through to large residential homes and commercial/industrial projects. Ian is based, and operates, in Norfolk and is well versed in the Downham Market area and properties.
Ian works on small domestic extensions through to large residential homes and commercial/industrial projects. Ian is based, and operates, in Norfolk and is well versed in the Downham Market area and properties.