A regal home in the British Countryside with unlimited potential
A case study in taking your time with major purchasing, keeping the long game constantly in mind. This property is now up for sale with the owner looking to receive a much greater return based solely on Peter Chan’s excellent strategy.
PROBLEM
An elegant, beautiful, and rare 12th century house set in 70 acres of land in need of renovation which proved to be quite costly. The dilemma of the buyer entailed having to cover the cost of renovation after buying the property and they felt that this would ultimately become the deal breaker. With the property being Grade 2 listed, it held historical and architectural significance and this required every effort to preserve it, meaning absolutely no corners could be cut during the restoration process.
SOLUTION
Peter advised the buyer to buy the house first and not the land, which pushed his budget over his comfort level - This ended up being a shrewd decision. Together, with Peter’s development team, the house was then renovated from its run down state which massively increased the value. This new value gave the buyer increased leverage, enabling him to borrow enough to buy the 70 acres of accompanying land and eventually the forest.
OUTCOME
The team added shooting rights and is now looking to convert outbuildings to holiday lets. The property is a spectacular spot, primed for events and weddings. The owner is now looking to sell the entire property for £9.5m.
