This article is from page 54 of the 2005-10-11 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 54 JPG
WITH a glut of rental property available lo- cally, Clare investors have cast their property investment net a lot wider, in recent times. In response, two Ennis businessmen, Martin Guerin and Gerard Lynch, have launched Blue Ten Properties, to facilitate investment in a carefully selected portfolio of overseas proper- Woe
Blue Ten has opted for a wharf-side develop- ment in central Birmingham as its first foray, and so far, just a few weeks after launch and based primarily on word of mouth, 35 of the 40 units have been snapped up. Martin Guerin confirmed, “over 90 per cent of the take-up has been from Clare based business people’.
Guerin has over 20 years experience working in the financial services sector and he believes that his reputation within the county has al- lowed investors to place their trust in him. But
Guerin and Lynch have also played safe with their first choice.
‘Holliday Wharf’, Birmingham, has been built by the very reputable builder, Charles Church. It overlooks Central Canal, in an area of the inner city in Birmingham which has undergone huge regeneration in recent years. ‘Having analysed the rental market, we decid- ed to reserve one-bedroom apartments only, as the rental return is very steady. Investors can expect to achieve rent of stg£625 per month on these properties, which are priced from £143,000 to £151,00”. The price range reflects whether or not the apartments include a park- ing space and their specific location within the building.
‘Holliday Wharf’ incorporates 155, one and two bedroom units and interestingly, Guerin said, ‘it’s estimated that over 55 per cent will be owner occupied.”
By buying in bulk, off plans, Blue Ten was
able to negotiate discounts of up stg£14,800, per unit, on behalf of its investors. Guerin ex- plained, “investors have to pay a 10 per cent deposit to reserve a property and the remainder is due on completion, which is anticipated early next summer.
“We have sourced a management agency, called Assets, to oversee the rental of the prop- erties on behalf of our investors, although if investors wish to pursue their own rental path, that’s fine. While many fittings are included, we have sourced a package of loose furnish- ings at acost of stg£5,000, again whether or not the investor wants to take up that option is at their own discretion. We have also negotiated a very cost effective conveyancing fee, with a local firm of solicitors, at £550 per unit”.
Guerin is convinced that this investment op- portunity is a safe bet. The rejuvenation of Bir- mingham continues at pace and it is anticipated that the face of England’s second city will have
utterly changed within the next five years.
“We have achieved substantial discounts that are not available to the one-off buyer. The dis- counts achieved are as much as some investors hope to make in their first two years”.
Certainly, there 1s consensus in the market that the UK continues to be a good area for property investment. According to recent re- search by Cambridge University the UK will experience a 1.4 million homes shortfall by 2021.
Guerin and Lynch may not confine them- selves to the UK however. “We are looking at potential investment properties as far away as Montreal.” But, Guerin conceded, “Birming- ham is a very good place to start. They speak the same language and you can hop on a plane and be at your investment property within a couple of hours, should the need arise”.
For further details on Blue Ten Properties, contact Martin Guerin on 087 2524639.