innovative financial & property group an introduction to ... · total reclaim ltd 07075294 ppi...

INNOVATIVE F INANCIAL & PROPER T Y GROUP

An introduction to our business

CO N T E N T s

AbOUT Us 4

DIRECTORs & ADVIsORs 4

COmPANY sTRUCTURE 6

bIOGRAPhY 8

AssETs & LIAbILITIEs 9

COmPANY PROjECTs 10

PRIVATE RENTAL sECTOR sChEmEs 12

TRADITIONAL DEVELOPmENTs 22

ROOFTOP ExTENsIONs 26

hOTELs 30

PREss RELEAsEs 32

buy land, they’re not making it any more.mark Twain

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An investment in knowledge always pays the best interest.benjamin Franklin

hsG - Corporate brochure | 2017-2018

A b O U T U s

The high street Group is one of the UK’s most successful privately owned businesses and a leading financial and property group.

We operate multiple companies in property development and construction, hospitality and leisure, offering expertise and opportunities across multiple sectors. The Group’s management team have decades of experience in the financial, development and construction industries.

since its inception 10 years ago by Chairman Gary Forrest, The high street Group of Companies has successfully developed businesses covering Financial Claims and business & Developer Finance.

We are now focusing on the growth of our large scale building and property portfolio and the long term opportunities and potential of this sector.

Delivered through our property development company All saints Living we specialise in four fundamental development sectors: Private Rental sector schemes, traditional development, rooftop extensions and hotels.

The high street Group has expanded rapidly with unparalleled growth, now employing more than 100 people in the head Office in Newcastle upon Tyne and across development sites in the UK. Reported profits for 2016 were £26 million.

A combination of the Group’s financial strength, sector expertise and relationships create a strong position from which we can explore opportunities and create value across various sectors.

ThE hIGh sTREE T GROUP VALUEs

Entrepreneurial, honest, open and professional

Operating in a complex environment with integrity and trust

Diversification through innovation

Approachable and flexible in our thinking

Keep it simple

D I R E C TO R s & A D V I s O R s

Company Name: high street GRP Limited

Company Number: 07831810

Registered Address: 2nd Floor Cuthbert house, All saints business Centre, Newcastle upon Tyne, Tyne and Wear, NE1 2ET, UK

Director: Gary Forrest

security Trustee: Castle Trust Group, 932 Europort, Gibraltar

Auditors: stokoe Rodger Chartered Accountants, 15 bankside, The Watermark, Gateshead, Tyne & Wear, NE11 9sY

Lawyers: mincoffs solicitors LLP, 5 Osborne Terrace, Newcastle upon Tyne, NE2 1sQ

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We challenge our limits and never miss an opportunity.


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CO m PA N Y s T R U C T U R E

THE HIGH STREE T GROUP

high street Commercial Finance

All saints Commercial plc

Cyprus

All saints Developments (NE) Ltd

All saints Construction Ltd

maxima Developments Ltd

(hotel 52)

Olympius Developments Ltd (hadrian’s Tower)

Palmus Developments Ltd

(Warrington)

high street Claims

(Total Reclaim)

bramhall hospitality Ltd Loca / Verdina /

Pazzo

Drogo Developments Ltd

(Larbert)

Englebert Developments Ltd

(seaham)

burr Living One Ltd (harrogate / hotel 52 - Whitley bay)

hubertus Developments Ltd

(Gosforth)

serenus Developments Ltd

(Trafford)

Nilus Developments Ltd

(milton Keynes)

high street Corporate Finance

(Rennington)

Genevieve Developments Ltd

(hexham)

brighstone Developments Ltd

(morar house)

Frideswide Developments Ltd

(belmont)

Lindus Developments Ltd

(sunderland bridge)

All saints PropertyInvestments

Rental Properties Whitehaven

seaham

Theon Developments Ltd

(birmingham)

Rodus Developments Ltd

(salford)

Cuthbert Developments Ltd

(Richmond)

stansfield house Ltd(stanley)

All saints Asset management plc

Gibraltar

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G A R Y F O R R E s T C h A I R m A N

Gary Forrest has over 30 years’ experience in financial services and instruments, initially in the mortgage sector and subsequently in investments. Gary successfully grew his lending business from a £100 million lender to a £1 billion lender in 5 years, and sold his company high street home Loans in 2003 to GmAC-RFC.

The high street Group of Companies was conceived in 2011 initially focussing on alternative investment strategies and development finance, entering into the construction and development sector in 2013.

In this short space of time, Gary has successfully steered the company to become one of the largest in the North East, with upcoming projects valuing in excess of £260 million and focussing on PRs schemes, traditional development, rooftop extensions and the leisure and hospitality sector.

Gary is committed to exploring the opportunities presented by innovative development and financial schemes and recognises their benefit to both the company and its investors.

success doesn’t come to you. You go to it.marva Collins


COmPANY NAmE OWNERshIP AssET VALUE LOAN

burr Living One Ltd 09245685

100% 45 st Georges Road, harrogatex 4 apartments utilised as Execuletshotel, x 32 rooms3 leased to south American style restaurant, Verdina and Parade Pub/ Nightclub

£1,035,000 £2,000,000

£581,000 £730,000

hubertus Developments Ltd09073795

100% Land with planning to build 14 houses, Gosforth

£5,000,000 £2,509,104

Engelbert Developments Ltd08920673

100% x 4 new-build units rental £520,000 £344,791

All saints Property Investments Ltd09759805

100% x 2 units at bardywell heights, Whitehaven x 2 units at seahamx 11 units rented out

£679,900 £260,000£817,000

£390,000 £168,937£490,200

Drogo Developments Ltd 08920717

90% x 56 homes, Larbert house & Country Estate, stirlingshire

£7,000,000 £330,000

Lindus Developments Limited 10265183

100% x 2 refurbished terraced cottages x 1 new build detached 3 bed property, sunderland bridge

£600,000 £309,000

Frideswide Developments Ltd09073799

100% x 26 properties (x 5 apartments, x 21 houses), belmont

£3,266,000 £1,149,104

brighstone Developments Ltd09912548

100% x 12 apartments, morar house helensburgh

£1,200,000 £737,759

high street Corporate Finance 09396359

100% Land to build x 10 bungalows, Rennington

£650,000 £194,000

Total Reclaim Ltd07075294

PPI Company Profit forecast 2017 £1,000,000

All saints Construction Ltd09659115

100% Construction company Profit forecast 2017 £241,621

high street Commercial Plc09571862

100% Property group holding company N/A N/A

All saints Asset management Plc09571877


All saints Developments (NE) Limited


high street Commercial Finance Ltd07841268

65% specialist lender Profit forecast 2017 £250,000

Nilus Developments Ltd10265273

100% milton Keynes Profit forecast 2017 £1,000,000

Olympius Developments Limited10594675

100% Rutherford street, Newcastle upon Tyne

£7,100,000 £1,250,000

Palmus Developments Limited10694418

100% Warrington £400,000

Rodus Developments Limited 10811082

100% salford £70,000

Theon Developments Limited 10882221

100% birmingham £430,000

TOTAL £34,219,521 £9,417,646

A s s E T s & L I A b I L I T I E s

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The secret of change is to focus all of your energy, not on fighting the old, but on building the new.socrates

10 hsG - Corporate brochure | 2017-2018

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All saints Living is The high street Group’s property development company, which was launched in 2013, and has quickly become one of the most respected house builders in the North East, with prestigious projects in the North of England and scotland. We currently have close to 200 residential properties under construction, all designed and built to an extremely high standard. We have a further 1,800 units in planning and project management.

We have four fundamental development specialities:

• Private Rental sector schemes

• Traditional Development

• Rooftop Extensions

• hotels

CO m PA N Y P R O j E C T s

This brochure outlines our ambitious and achievable plans for Private Rental schemes, Traditional Developments, Rooftop Extensions and hotels across the UK, a sector we fully believe will cement our mission to propel The high street Group and associated companies to the next level and become one of the largest and most recognised brands in the UK.


P R I VAT E R E N TA L s E C TO R s C h E m E s : A N O V E R V I E W

The Private Rental sector in the UK has grown substantially in recent years and accounts for approximately 16.5% of all UK households.

In ever increasing numbers both large institutional and individual investors are buying up properties for the purposes of ‘buy to let’ - benefiting from both value rises in their acquired assets (UK house price rises) and from rising rents. It is clear that PRs is here to stay and will grow significantly over the next few years.

Hadrian’s Tower, Newcastle upon Tyne

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PRIVATE RENTAL sEC TOR (PRs) sChEmEs

The high street Group has identified PRs schemes to be a significant opportunity in coming years and, as such, has entered into the sector with the development of 139 units in milton Keynes.

The previous developers had failed in their attempt to obtain planning for the project. The high street Group planning team re-designed the scheme and successfully obtained planning on 3rd march 2017; this project has been sold to Grainger Trust PLC for £30,150,000.

having purchased and started the development of the project in milton Keynes, the company has gone on to secure projects in the North East and North West of England which will provide around 550 residential units.

The company has acquired an exclusive site in Newcastle upon Tyne for a 26 storey building known as hadrian’s Tower, and exchanged contracts on a further project in Warrington City Centre.

We have also secured options on development sites for PRs schemes in salford, birmingham, Trafford, further details of which you can find in this brochure.

building reputations with an entrepreneurial spirit.

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W h AT A R E P R s D E V E LO P m E N T s ?

In essence, new housing developments where all the properties are built for rent, not sale. many believe that in 15 or 20 years’ time more people will rent in the UK than own their homes. This is caused by a lack of affordable ‘built for sale’ housing stock.

W h Y h A s T h E b U I LT F O R s A L E h O U s I N G m A R K E T N OT K E P T U P W I T h T h E D E m A N D ?

The promotion of home ownership in the 1980s, to the detriment of all other housing forms, is now the victim of its own success with more people than ever trying to buy their own home. however, demand for housing has outstripped supply.

In the UK it is estimated that 240,000 new houses are needed per year to cater for demand but on average we build only around half that number each year. This has resulted in a housing shortage that has become a ‘housing Crisis’.

One issue is that the residential market is notoriously volatile and the large volume house builders are working with very tight margins. This has historically made housing developments less attractive to create than other developments in terms of a build to sell model.

Another reason is that local government planning decisions often take too long which slow down or prevent people building new homes. Added to this, soaring house prices, especially in London and the south East, has resulted in large purchases of UK housing stock by foreign investors.

The demographics and mind set of the population has also changed in recent years with many people moving to the UK from Europe and beyond who prefer to rent properties, rather than the traditional route of aspiring to be on the property ladder in their 20s-30s.

h O W C A N W E C A P I TA L I s E O N T h I s O P P O R T U N I T Y ?

Rising property prices and rising rents creates a win-win scenario, and the following are key considerations:

1 . TA R G E T T h E R I G h T D E m O G R A P h I C

The average age of people looking to move into a first home in the UK is between 25-35 years old. The open market is not currently catering for this demographic as most new home developments across the UK are 3-4 bed houses.

The 25-35 age group are typically key workers, often young urban professionals, who are looking for a comfortable and affordable place to stay for a secure length of tenure.

This group of people will happily live in PRs housing, as proven by the numerous successful emerging schemes. however they are not the only group for whom PRs would be suitable. Downsizers and students are equally attracted to rental accommodation if the right housing product can be offered.

2 . b U I L D I N T h E R I G h T LO C AT I O N

The most successful PRs schemes are in urban locations, with local transport within walking distance. Allowing for regional variations, a critical mass of 150 units or more is deemed ideal to guarantee return on investment, whether in one building or multiple buildings.

Therefore PRs developments are generally medium to high density. studies have shown that PRs is viable not only in London, but also in locations where there are strong employment rates and lower land values.


Hadrian’s Tower, Newcastle upon Tyne

3. CREATE A sENsE OF PLACE

To attract and retain target group tenants, 25-35 year olds, the right lifestyle setting is important. Added amenities such as concierge services are part of the PRs lifestyle formula and this is where PRs distinguishes itself from the build for sale sector.

Other types of lifestyle facilities can include workspaces, communal roof terraces, cafés and gyms. Additional income can be generated from these facilities, although the prime objective is the contribution they make to place making and community building.

Tenants who feel they are part of a community tend to stay longer. This in turn reduces the risk of rent voids, which have a negative impact on net operating income.

studies show that people who know one other person in a building are 75% more likely to renew their tenancy. For people who know two other people this rises to 90%.

4. ALLOW FOR bUILDING mANAGEmENT

Effective building management enhances and protects the long-term value of a development. PRs investors are looking for income over long periods. As such, maintaining the quality of a site is important. In addition, communal spaces and services need to be well maintained as they are part of the extended home of the tenants.

5. UNIT DEsIGN NEEDs TO bE CAREFULLY CONsIDERED

85% net to gross ratio should be the minimum set for building efficiency. maximising the number of units per core/floor and the careful consideration of the aspect will lead to a more efficient building.

Unit sizes need to be carefully considered and related to rental income, whereas personal outside space can be balanced against communal outside space, like a roof terrace.

Flexibility in the design layout of the units is important. They should be designed to cater for different modes of tenure, young professionals who are house sharing, or for families.

6. UsE hIGh QUALITY mATERIALs

As build to rent developments are designed for long-term investment purposes, the life-cycle of the building materials used plays a much greater role than in other developments. Finishes need to be high quality, robust and designed to last.

Do PRs projects stack-up as an investment? The perception is that build to rent developments result in smaller returns than build for sale developments. With rising house prices and rising rents, this is increasingly not true. Not only do PRs investors benefit from high UK rents but the value of their assets increases steadily over time as house prices continue to rise steadily.

For this very reason, large institutional investors, such as pension funds and property companies are increasingly attracted to PRs as a long-term investment vehicle as they are looking for non-volatile, high quality investments offering long term returns.

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The Sky Lounge, Hadrian’s Tower, Newcastle upon Tyne

O U R C R I T E R I A

Once identified, The high street Group ensures all PRs projects fit a strict set of criteria. These include: size of project, advantageous gross yields and flexible exit strategies.

KEY FAC Ts

• scale must be between 100 - 300 units

• Investment value £10 - 50 million

• Gross yields, regions 6.5% - 7.5%

• Discount to GDV delivered at 10%+

• Design to flexible exit strategies

• buy to Let markets

• Potential Institutional Exit (with yield compression)

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P R I VAT E R E N TA L s E C TO R :

O U R A P P R OAC h

The high street Group employs a number of key factors when researching PRs schemes. These include identifying beneficial locations and guaranteeing strong and sustainable demand.

KEY FAC Ts

• strong local demand, using specialist data analysis, ensuring demand is sustainable and deep

• mature local regeneration, city or fringe city

• beneficial locations: • Commuterbelt,nomorethan15minutesfrompublic transport links • Within15minutes’walkofcitycentreamenities • Growthofinnercitycultureenhancedbyseniorstudent population


sILbURY bOULE VARD, mILTON KEYNEs

All saints Living acquired and then sold a large residential development site on silbury boulevard in milton Keynes in August 2017. This prestigious PRs scheme was our first of this kind, and has been sold to Grainger PLC in a multi-million pound forward funding and development deal.

The development involves the demolition and replacement of the 2 existing office buildings with a 7 storey block of 139 exclusive apartments.

Planning permission was achieved on the basis of a Private Rental Apartment scheme. The Design and build team was appointed and commenced on site in October 2017.

milton Keynes is one of the country’s most rapidly expanding cities, with a population in excess of 200,000. junctions 13 and 14 of the m1 motorway are easily accessible via the dual carriageway network to the east, and there is a fast intercity rail service to London (Euston), birmingham and the north.

The property is situated in a prime central business district location with main boulevard frontage.

Nearby occupiers include santander, Deloitte, home Retail Group, Transport Catapult systems and bP mobil.

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KEY FAC Ts

• secured planning for a 7 storey 139 unit apartment scheme

• Prime commuter location for London

• Client is Grainger PLC – contract signed

• build will be by United Living – contract signed

• Total sales £30.4m, Purchase £4.9m, Total Cost £22.5m, Gross Profit £3m

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hADRIAN’s TOWER, NEWCAsTLE UPON TYNE

All saints Living has acquired a site to construct and market what will be Newcastle upon Tyne’s tallest building.

The 82-metre high structure, located on Rutherford street off st james’ boulevard, will be made up of 26 storeys and comprise 165 PRs apartments, providing enough space for 456 residents.

The off-plan sale of the 56 single and 109 two bedroomed apartments commenced in septemeber 2017.

Keith mcDougall, Director of All saints Living, said:

“We are delighted to be playing such a vital role in what will be a landmark development in the North East. It represents a £40m investment in Newcastle and is expected to create up to 400 direct and supply chain jobs, through a structured training and employment management plan. “

“Around a sixth of the UK’s population lives in privately rented accommodation and this is forecast to grow.”

“The Private Rental sector in the UK has, until now, been predominantly individual properties marketed through estate agents. however, institutional Private Rental sector in developments such as this one is now becoming more evident.”

KEY FAC Ts

• 165 apartment development which, at 82 metres and 26 storeys, will be the tallest building in Newcastle

• Targeting foreign investors to buy large numbers

• Appeal to the strong postgraduate market

• Purchased with planning

• Design being reviewed

• build will be by Tolent, contract signed

• Total sales £45m, Purchase £6m, build Cost £25m, Gross Profit £14m


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C h E s h I R E j U N C T I O N , j O h N s T R E E T, WA R R I N G TO N

A land deal has been completed, paving the way for the development of 362 apartments for private rent in Warrington’s regenerated town centre.

All saints Living has acquired the site next to the central station – a former industrial site – and expects to start construction in spring 2018, creating an 8 storey complex with a total development value of £51 million.

The scheme has two adjoining phases of residential apartments wrapped around an internal courtyard.

both phases are accessed via the pedestrianised square in front of Warrington Central station. The plans include around 6,400sq ft of retail and leisure space and 796 parking spaces.

The apartments will be open plan and contemporary in style with a mixture of single and two bedroom units. There are also 3 bed duplex penthouses and a rooftop lounge. The foyer will focus on a new station square and provide a sense of placemaking, with a better balance of public and private open space. The square is being developed as part of the wider Warrington regeneration.

KEY FAC Ts

• 362 unit apartment development with multi storey car park, (part PRs and part bTL)

• major development area

• Ideally located for commuting to Liverpool and

manchester

• On main train lines and road network

• Incorporates a 796 unit multi storey car park

• Total sales £48m, Purchase £3.5m, build Cost £33m, Gross Profit £11.5m


LIVERPOOL sTREET, sALFORD

The site at Liverpool street can be developed into a split height of 6 and 9 storeys. Accommodating 87 units in total, the development will include a mixture of one-bedroom apartments, two-bedroom apartments, two-bedroom townhouses and three-bedroom townhouses.

We are currently exploring the prospect of acquiring the site next door on the same ‘subject to planning’ basis.

There is still some uncertainty about the additional acquisition so we are currently proceeding on the basis of a bTL exit on 87 units.

The project is on the edge of the middlewood Locks regeneration project which is currently under construction to deliver 1,000 homes and a large leisure and amenity complex.

The scheme is due to complete in 2019. It runs along the manchester side of the ring road and is comprised mainly of high rise blocks with a mixture of PRs and bTL exits.

KEY FAC Ts

• 87 unit bTL apartment development

• joint Venture with United Living

• 6-9 storeys

• Reviewing the possibility of adding adjacent site to increase size

• Total sales £16.5m, Purchase £1.5m, build Cost £11m, Gross Profit £4m

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WEsTmINsTER WORKs, b IRmINGhAm

Located close to the proposed high-speed rail network linking birmingham and London, hs2, Westminster Works is an ideal base for commuters to the north and south. On the edge of the southern Gateway £1bn regeneration zone Westminster Works offers city living within a vibrant new neighbourhood.

The area is a major development opportunity to create a new destination delivering development with the highest sustaina-bility credentials centred around a newly created public space – moat square.

birmingham is identified by overseas investors as a source of opportunity, with major strategic developments backed by investors from around the globe. birmingham is rich in heritage with an established economy and excellent transport links. World-class culture, vibrant night-life, award-winning dining, fantastic shopping and acclaimed architecture are all found in birmingham.

The site at Westminster Works can be developed into 8 storeys and can accommodate 254 units within the boundary of the site. We have agreed and signed head of Terms and paid a £400,000 deposit to secure this project.

KEY FAC Ts

• 8 storeys, accommodating 254 units

• Excellent commuter location

• Unique lifestyle offering

• New build premium

• Quality apartments

• Premium rental location

• Rental yield guarantee

• Development cost circa £30m (including build cost)

• Expected profit £9m


solid commercial foundations with strong investment partnerships.

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T R A D I T I O N A L D E V E LO P m E N T s

Our Traditional Developments and Construction division specialise in high quality projects within the North of England and scotland.

We focus our attention on projects that are too small for the PLC developers (Persimmon homes, etc) yet too large for the small developers.

This approach enables us to secure highly lucrative profits with little competition from other developers.

All these developments are designed and built by All saints Construction.

AllSaintsConstruction


bOUTIQUE PROjEC Ts

In 2016, The high street Group acquired a development in hexham, known as burn brae house. This beautiful Grade II Listed building was in a state of disrepair; in converting it back to a residential dwelling containing 6 apartments and a 3 storey town house, All saints Living gave the building a new life. It has been renovated and restored, rejuvenating the front of the property and enhancing the main road into hexham. All seven plots within burn brae house were reserved off-plan, within months of launch. burn brae house was short-listed for 2 categories at the North East Property Awards 2017; Refit & Refurbishment of the Year and Residential Development of the Year.

COmPLE TED PROjEC Ts

Further developments have been completed in belmont, close to Durham City Centre (26 units), Whitehaven, Cumbria (14 units), Rennington, Northumberland (5 units), harrogate, North Yorkshire (5 units) and Richmond, North Yorkshire (4 units).

FUTURE PROjEC Ts

All saints Living are undertaking further exclusive residential projects in 2017/2018, including the following:

• The conversion of a former primary school into 18 apartments, located in Lenzie, 15 miles from Glasgow

• The build of 25 detached properties on the site of a demolished former stately home in hartlepool

• 8 exclusive town-houses on the banks of the River Tyne in Newcastle upon Tyne

• 4 link detached dormer bungalows on an existing site in Rennington, Northumberland

• The restoration and expansion of morar house, a b Listed property in helensburgh, overlooking the Clyde Estuary

LARGE REsIDENTIAL PROjEC Ts

since its launch in 2013, All saints Living has grown rapidly and substantially, having undertaken projects in excess of 50 million. All saints Living’s landmark development is Larbert house & Country Estate in Falkirk, stirlingshire. The development includes full restoration and sensitive conversion of the derelict Larbert house and stable block into luxury apartments. It also includes four new build sections comprising of a mews block to mirror the existing stable; eight luxurious detached homes nestled within the walled garden; eight detached properties to the west of the walled garden; and a group of three large distinctive detached properties settled within mature trees on the east site.

This development has won the award for best Renovation Project of scotland 2015 and best Residential Property Central scotland at the UK Property Awards 2017. Larbert house continues to be nominated for prestigious property awards.

To view further details of Larbert house & Country Estate, please visit: www.larberthouseestate.com

In 2016 The high street Group acquired The Walled Gardens development in Gosforth, within the grounds of Newcastle Racecourse. The £11 million project is being delivered by All saints Living and All saints Construction and will create 14 four and five bedroomed executive homes in this unique setting.

This development is situated across two walled gardens; the northern walled garden contains eight, four bedroom semi-detached properties that have been designed to a contemporary finish, incorporating large south facing windows maximising capture of natural light. The southern walled garden contains a further six, five bedroom semi-detached properties. These properties will be finished in a more traditional style in order to complement the surrounding dwellings.

To view further details of The Walled Gardens Gosforth, please visit: www.walledgardensgosforth.co.uk

Larbert House & Country Estate, Stirlingshire

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The Walled Gardens, Gosforth, Newcastle upon Tyne

Burn Brae House, Hexham

Aidan Gardens, Belmont

The Bungalows, Rennington

Bardywell Heights, Whitehaven

R O O F TO P E x T E N s I O N s : A N E W A N D E xC I T I N G O P P O R T U N I T Y TO D E L I V E R h O U s I N G

We are embracing a new and exciting opportunity with E & j Capital to deliver rooftop apartment living in cities across the UK.

We believe there is a huge opportunity for the creation of new homes through development of underused rooftop space in existing residential locations.

We have researched potential locations for the delivery of rooftop development suitable for consideration by The high street Group as well as the associated considerations of planning, design, sustainability and construction.


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CONsULTATION ON UPWARD Ex TENsION IN LONDON

Three options were presented in the recent consultation paper in order to enable greater housing delivery through rooftop extensions in London, not necessarily mutually exclusive:

• Permitted Development (PD) rights for additional storeys in London;

• Local Development Orders (LDOs) for additional storeys in specific areas; and

• The support for upward extension through policy in the London Plan.

All three options present significant opportunities for increasing housing supply.

GOVERNmENT REsPONsE - FEbRUARY 2017

“We welcome the support for the principle of upward extensions to existing premises to provide more homes in London. The responses have confirmed that there is potential to deliver more homes by increasing densities on brownfield land.

It is clear that building up has a role to play in meeting the need for new homes across the country, not just in London, and the housing White Paper proposes a package of measures to support building at higher densities and using land more efficiently for development.

Our intention is therefore to take forward the policy option through the National Planning Policy Framework to support the delivery of additional homes by building up.”

We shape our buildings; thereafter they shape us.Winston Churchill


T YPICAL PLANNING CONsIDERATIONs

A range of material planning considerations are likely to apply and we consider these to be the following:

• Conservation Areas & Listed buildings

• Design standards

• Public Transport Accessibility

• Car Parking

• supportive spatial Planning Policy Designations

• Other Restrictive spatial Planning Policy Designations

• Existing Uses

• space standards

• Private Open space Requirements

• sustainability

• section 106 & Community Infrastructure Levy

ThE DE VELOPmENT PROCEss

The development process is not dissimilar to a typical development process. The process begins with identification of a potential rooftop site, the design and planning submission.

The initial design process terminates in gaining a planning consent. Following this a prefabricated module can be transported and installed on site within a matter of a week.

Our specialist planning team will enable The high street Group to maximise the opportunity within this market place.

bACKGROUND

The issue of an undersupply of new homes, twinned with an increasing challenge of affordability provides a real challenge for all involved in determining the how and what of new supply. Recent evidence has shown that a high level of unused roof space could be translated into new homes, particularly in London and larger cities, with some of this space being owned by local authorities.

Around 49,000 new homes are required every year in London over the next two decades although some sources refer to the need for up to 60,000 homes per annum. The Government’s focus is very much on brownfield land to deliver housing, but there is wide recognition that more varied and innovative methods of delivering housing need to be considered, as the ever mounting pressure increases.

more creative and lateral thinking needs to be applied to how we can increase the supply of housing. Rooftop development is recognised as one of many innovative housing solutions that can contribute to the delivery of more homes. It is not the solution but one of many allowing new entrants into the market to deliver housing. Currently, only 2% of new homes per year in London come about as a result of an element of ‘upward extension’.

Following the recent planning policy consultations on rooftop development, now is the time to seriously consider both the potential of this type of development in further detail, alongside the technical constraints that will need to be overcome, to realise more of this type of development on a far greater scale.

An additional 630,000 residential homes could be supported across London, by adding additional homes above municipal buildings.

Hoxton Wharf, Islington, London

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E x A m P L E s C h E m E

• hoxton Wharf, Islington, London

• 30 apartments over 3 additional floors

• high value, high demand area

• Total sales: £14.4m, Nil Purchase Cost, build Cost: £5.4m, Gross Profit: £9m

sTRATEGIC & F INANCIAL bENEFITs

s T R AT E G I C

• Delivery of much needed new homes supply to meet housing needs

• Enhancing asset value and use of existing properties

• Innovative – use of offsite homes manufacture to speed delivery and reduce disruption to occupants

• Green – potential opportunity for use of renewable energies to reduce energy consumption

F I N A N C I A L

• Creation of a significant windfall payment for freeholder, linked to market value of the new apartments

• Reduction in maintenance burden for freeholders/ leaseholders

• Improvement in the kerb appeal of properties through associated improvements to façade and elevations

OUR APPROACh

We have agreed a partnership with E & j Capital who have 1,800 assets across the UK in the form of the freehold of accessed, unused roof space.

The initial strategy and focus will be as follows:

• London & manchester

• high value sales areas

• Carefully selected schemes based on construction, planning and end sales values

• Dedicated local teams to be recruited with a Project manager to oversee delivery

• Initial pilot schemes will be 8 – 4 based in London and (4 based in manchester)

• Average scheme will see the delivery of 8 properties

Hoxton Wharf, Islington, London

h OT E L s

During 2017 the company has developed a hotel business strategy to identify and build a chain of budget boutique hotels in the North of England that will compete in price with budget/mid-range hotel groups.

Over the next 5 years the company will deliver 15-20 hotels under the hotel 52 brand.

OUR PROCEss

• Acquire the hotel• Refurbish to a high standard• Integrate our management• Deliver increased occupancy rates, efficiencies and turnover.


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h OT E L 52, s TA N L E Y

In 2017 we will open a brand new hotel and restaurant in stanley, County Durham. A former care home, we will transform the current building into a 23 bedroom hotel with onsite Italian restaurant and café, reflecting the hotel 52 and Pazzo themes developed in Whitley bay. With options of double/twin, triple and family rooms and apartments, the hotel will bring much needed affordable accommodation to the surrounding area. The area receives thousands of visitors each year with its close proximity to beamish museum, the world famous open air museum, and hotel accommodation options are limited.

The hotel will also offer onsite conference and meeting facilities and the restaurant will open as a café during the day to maximise use of the facilities.

h OT E L 52, W h I T L E Y b AY

hotel 52, Whitley bay is an exclusive 32-bedroom hotel located in an excellent position, with just a short walk to the town centre and award-winning beaches at the end of the road. Each room in the hotel has been refurbished to a higher than average standard, offering en-suite facilities and extremely comfortable beds. With options of single, double/twin, triple and family rooms, the hotel can accommodate any party size.

Included with every booking, the hotel offers breakfast in all of its room packages. The hotel has two restaurants on site which allows guests to be spoilt for choice when it comes to dining. On one side you have Loca, a brand-new bar and restaurant that offers Latin American cuisine. On the other side you have Pazzo a Pizzeria and Prosecco bar. The hotel combines Dinner, bed and breakfast packages.

A multi-million pound regeneration is under way in Whitley bay to help revitalise the coast. The council of North Tyneside has developed a £36m seafront masterplan, which covers a stretch from st mary’s Lighthouse to Cullercoats bay and includes a string of projects.

Visit www.hotel52.co.uk for more information on the Group’s hotel chain.

It’s not about ideas, it’s about making ideas happen.


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heading up the sweeping driveway that leads to Larbert house you feel as if you are journeying back in time - back to an era of upstairs-downstairs living, a time when grand houses had teams of servants, a time when the main mode of transport was horse and carriage.but rather than echoing the finest residential style of days gone by this rural excursion will lead you right to the heights of 21st-century living.Larbert house, designed by the renowned architect David hamilton - whose other great works included Lennox Castle, hutcheson’s hall and the Royal Exchange in Glasgow - was built for industrialist sir Gilbert stirling in the 1820’s.As time went by the estate had many owners but, in 2006, it seemed this magnificent property was about to vanish from the landscape. The building had been badly damaged by fire. however, entrepreneur Grant Keenan had other ideas. he believed Larbert house could be a residential phoenix. And he was right. The house is being returned to its former glory in a manner that is in step with the very best of modern living.Working in consultation with historic scotland, boutique developers All saints Living are in

the process of bringing life back to this b-listed stirlingshire mansion as well as its surrounding buildings. Larbert house is in the midst of being transformed into a dozen luxury apartments with an extension being added which will create a further eight apartments. The nearby stables are now a collection of 2, 3 and 4-bedroom high-specification houses positioned around a court-yard which is in keeping with the stylish quality of the surroundings.Adding further to the community atmosphere, The stables area is to have a replica neighbouring block which is currently under construction. It will consist of 10 homes, also a mix of 2, 3 and 4-bed properties.What was once the vast walled garden for Larbert house is to bloom again but rather than fruit and vegetables this area is becoming the setting for eight 5-bedroom houses.At the heart of this restoration excerise is, of course, the mansion, which is in the process of being convertyed into a dozen luxurious apartments. The new extension will echo the architecture and feature eight homes. A further 11, all 5-bedroomed, are to be built in other areas of the estate.

because of the nature of this project no two homes are the same. Although the atmosphere is of being away from it all, the location is an ideal spot for commuters seeking easy access to Glasgow, Edinburgh and stirling.There has been considerable interest in this unique venture right from the outset. The first phase proved very successful and now the next chapter in this estate’s story has been offically unveiled. It sees the release of 18 new-build homes, properties within the mansion’s extension and the replica stable block. The Overtoun apartments of the mansion are on release priced from £275,000. Prices for the homes at The stables start at £250,000. all carry a high specification level.sonali Craddock, marketing director with All saint Living, said: “both of the new-build sections within this special development have been carefully constructed to emulate the Georgian charm and distinct craftsmanship so beautifully showcased in the original mansion house and stable block, whilst giving purchasers the very best in luxurious living.”

Insert date 30.10.2017

Modern take on Georgian splendour

P R E s s R E L E A s E s

Discerning buyers will be able to visit the site on saturday, july 27 and sunday, july 23 from 10am-4pm. Visitors can view plans for the four and five bedroomed properties, which will boast a range of luxury finishes and aesthetic details, as well as sedum grass and zinc roofs, designed to mirror the leafy surroundings and former greenhouses of the Walled Gardens.

Property experts and mortgage advisors from leading North East chartered surveyors and estate agents bradley hall and bh mortgages will be available to reserve with completion dates estimated to be early 2018.

Located in Gosforth, one of the city’s most affluent suburbs, The Walled Garden will have access to a range of restaurants, pubs and retailers on Gosforh high street. home owners will have excellent transportation links, such as access to the A1(m) and A194(m), as well as public transport links, providing a prime location for commuters and professionals.

matt hoy, director of residential services at bradley hall, said: “These outstanding homes have been highly anticipated for a long time, and we were not disappointed to see the plans for this exclusive development.

“We know that All saints Developments and the homes they build are all a perfect fit for this particular location. All 14 of the properties will boast a range of stunning features and practical, yet luxury, living.

“The location of the Walled Garden provides discerning buyers the opportunity to own a home in one of the most sought after suburbs of Newcastle. The close location to Newcastle city centre provides convenient travel for commuters and those who like to socialise in the city, whilst also enabling a tranquil living environment.

“As there are only a limited amount of properties within the Walled Garden, we expect them to be snapped up very quickly.”

The homes will be carefully set within the

four-acre site which originally served the 18th Century brandling Estate. The initial sale of the site for redevelopment also supported a highly publicised improvement multi-million-pound investment programme at the racecourse.

The exclusive homes are being developed by award winning All saints Developments, a property development company which specialises in innovative architecture and high quality interior design.

Director for All saints Developments (NE) Ltd. Keith mcDougall, added: “In an area renowned for its landscaping and wildlife, we will be building homes which are sympathetic to their surroundings. The modern design of the properties will maximise natural light, with large south facing windows as a key feature in the eight, four bedroomed properties in the northern part of the garden.”

Following the event, the sales office will be open on Friday, saturday, sunday and monday from 10am-4pm until August 7.

Luxury homes now available in Newcastle Walled GardensLuxury homes at the £11m Walled Garden are now available to reserve after work begun on the project to bring 14 contemporary properties to Newcastle Racecourse.



The c.90k sq ft scheme in the centre of milton Keynes comprises:• 139homes;• Residentamenityandcommercialspace;• 170bicyclestorages,spaces;and• 120parkingspace.

United Living is the appointed contractor for the scheme.

GRIP REIT is focused on PRs investments in London and the south East and is 25% owned by Grainger and 75% owned by APG.

Grainger is the property, asset and development manager for REIT. In addition to the projected gross yield on cost over 6% once operational, Grainger receives management fees, supplementing its overall returns.

helen Gordon, Chief Executive of Grainger, said: “We are pleased to announce another successful acquisition of an attractive PRs asset in a highly desirable location with a strong

and growing rental market, this time through our GRIP PRs REIT in partnership with our long standing partner, APG. Our ambitious investment plan continues at pace with c.£500m of Grainger’s own capital committed to new PRs investments.”

Gary Forrest, Chairman of The high street Group, said: “As the build to rent, or private rented sector, continues to grow due to demand for homes outstripping supply, we developed a plan to create a community with a modern village feel that will cater for the needs of aspiring young professional people in milton Keynes.

“We are delighted that such a successful and reputable specialist in PRs as Grainger is now acquiring the site to take the project forward.”

Pinsent masons acted as legal advisor to Grainger.


Grainger forward funds mK PRs assetGrainger GRIP REIT joint venture with APG has unconditionally agreed to forward fund and acquire a 139 home build to rent, private rented sector (PRs) development in milton Keynes from the high street Group for £30.5m.

PROPERTY FIRm mAKEs ITs FIRsT mOVE INTO ThE hOTEL sECTOR WITh GbP1.25m WhITLEY bAY bOUTIQUE PROjECTProperty firm makes its first move into the hotel sector with £1.25m Whitley bay boutique project : A property firm that is expanding into the hotel sector has made its first moves into the industry with the £1.25m redevelopment of a Whitley bay hotel.

All saints Living is currently converting Newquay Lodge on Whitley bay’s south Parade into hotel 52, a 32-bedroom hotel and restaurant.

The project will see the property’s rooms, reception and public areas, bar and restaurant transformed, with a derelict space turned into a south American-themed eatery.

steve Welsh has been appointed as the hotel’s new general manager, and one of his first targets will be to launch to new Loca restaurant.

Work on the new hotel and restaurant is expected to be completed within the next few weeks, ready for a may opening.


Palmus Developments, part of the North East-based high street Group, has revealed proposals for a £45m mixed-use devel-opment in john street, close to Warrington Central station.The plans include around 6,400 sq ft of retail and leisure, 362 apartments and 796 car park-ing spaces.

Keith mcDougall of Palmus said: “The proposals will lead to a range of short and long term economic benefits; generating employment, creating economic value, boosting housing supply and boosting to local authorities finan-cial resources.”

The manchester office of planning and devel-opment consultancy Lichfields is taking the plans forward on Palmus’ behalf, and has now submitted the plans to Warrington Council. Triangle Architects has designed the scheme.

Warrington apartments in for planning Insert date 13.10.2017

Lichfields said that the development will support over 200 construction jobs during the build period and dozens more in the commer-cial space once complete.

It could also lead to £1.9m in New homes bo-nus payments for the council and an additional £500,000 in council tax revenues

simon Pemberton, senior director at Lichfields, said: “The site has previously had planning permission for 284 apartments and commercial uses which was secured by the original devel-oper just before the recession.

“Palmus is fully committed to bringing the site forward and has been working on new proposals for its redevelopment for a number of months.”

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Insert date 17 10 2017

HADRIAN’S TOWER TO CHANGE THE SKYLINENewcastle based property specialist, All saints Living, is to undertake the development of the city’s tallest build-ing - hadrian’s Tower.

Acknowledged by planners to have an elegant,landmark architectural style, the 26 storey, 82metre high structure - in Rutherford street, off st james’ boulevard - will change the city sky-line. stonegate Developments submitted theplanning application and managing Director,Andrew Rennie, said he believed the tower willbecome a symbol of and beacon for furtherinvestment in Newcastle, which has beencompletely transformed over the last 25 years.

When completed, the £40 million project will deliver 162 private rented sector (PRs) apart-ments, providing homes for up to 456 people. These are anticipated to be young profession-als, post graduate students and workers in the adjacent science Central and university hospitals.

With its debut well underway, All saints Living is ramping up the expansion plans with the development of a second hotel 52 in stanley, on the site of the former stanfield house residential home.

based at saint Cuthbert house in Newcastle, All saints Living is part of The high street Group, which was established by entrepreneur Gary Forrest in 2004. Until now, the Newcastle-based company has specialised in conversions and new developments of homes for sale and serviced apartments for rent.

North East based The high street Group has posted profits of more than £26 million in its first full year of trading as a combined entity of companies – 2016.

Established as a holding company for 45 already existing businesses - specialising in property investment and development, finan-cial services and claims across multiple sectors - it made £26,020,652.

These operations include well established brands such as All saints Living, All saints Construction, high street boutique Finance and high street Claims.

said Group Chairman, Gary Forrest: “We are delighted with performance over this first full year of operation. Our property development and land acquisition strategy is really starting to show hugely encouraging results.

“We have a significant pipeline of private rent-ed sector (PRs) schemes – many of which are reaching the construction stage - with a current gross development value (GDV) in excess of £260million, whilst our traditional housebuild-ing model has a GDV in excess of £70million and a substantial number of exciting planned projects.

“I am also delighted to announce that we have agreed terms to create a partnership with one

of the UK’s largest freehold owners to carry out a series of innovative rooftop developments in major UK cities.

“Our hotel brand, hotel 52, has acquired two sites and we are looking to grow and develop a further 15 to 20 hotels, predominantly in the North of England, over the next two to three years.”

Recently announced PRs projects include had-rian’s Tower, which will be Newcastle’s tallest building, at 82 meters.

The 26 storey structure - in Rutherford street, off st james’ boulevard – will change the city skyline and provide 162 private rented, one and two bedroomed apartments for up to 456 peo-ple. similar projects being undertaken include developments in milton Keynes and Warrington which will create a further 423 PRs apartments.

An award winning initiative involves the sym-pathetic restoration of Larbert Country house and gardens in stirlingshire to create luxury apartments and detached executive homes. This recently won the Residential Development Category Award, for Central scotland, in the UK Property Awards 2017, in association with bentley motors.

Another prestigious development involves the creation of 14 executive homes within the walled gardens of the 18th Century brandling Estate, adjacent to Newcastle Racecourse.

Director, Keith mcDougall, said: “We are delight-ed to be playing such a vital role in thislandmark development which is expected to create up to 400 direct and supply chain jobs,through a structured training and employmentmanagement plan.

“Around a sixth of the UK’s population livesin privately rented accommodation and thisis forecast to grow. The private rented sectorin the UK has, until now, been predominantlyindividual properties, marketed throughestate agents. however, instructional PRsin developments such as this one is nowbecoming more evident.”

Other commercial projects being undertakenby All saints Living include £80 million, 423apartment schemes in Warrington and miltonKeynes, a new 90 bedroomed hotel in DurhamCity and the creation of a 32 bedroomed hotel52 and Loca restaurant in Whitley bay.

Off plan sales of 96 single and 66 twin bedroomed apartments will begin within the next few weeks and are seen to be an attractive investment op-portunity, with yields of up to 7%.

To be constructed on a site currently occupiedby a semi-derilict warehouse, the masonry andglazing facade at the lower levels will blendwith the existing streetscape and reflect thegrade II listed print works building opposite.

At the upper levels, a more vertical style, with steps and cantilevers, will make a real architectur-al statement.

Public viewing from the rooftop - offering pano-ramic views of the city and even as far as the coast - will be available 18 times each year.

All saints Living is a division of the Newcastleheadquartered high street Group - a multidisci-plinary operation established 10 years ago and involved in property investment, development finance and financial claims.

£26 million profit for property specialist

Commercial Property monthly 2017

[email protected] 0191 211 4120

www.thehighstreetgroup.com

2nd Floor Cuthbert house, All saints business Centre, Newcastle upon Tyne, Tyne & Wear, NE1 2ET

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