Empire Property Holdings was incorporated as a special purpose vehicle, to acquire commercial properties for development into residential accommodation by the Developer, Empire Property Concepts.
Empire Property Holdings is born out of Empire Property Concepts. Empire Property Concepts was set up by Director, Paul Rothwell, in September 2009.
Having already completed his first property investment at University & developed a portfolio with his brother Adam, Paul wished to make his property development formal as a company but also seek investors to provide his services to.
Empire’s progress has been strong, even against the backdrop of difficult economic & property market conditions respectively. The company has continued to market itself well & attract new investors to aid its growth.
Since its inception Empire has grown the product offering to consultancy, Joint Ventures (JVs) and Loans for Property. The latter is used to facilitate the development of projects to be retained as an investment within a special purpose vehicle, and then refinanced to return investors funds.
Empire seeks to market to new investors, and deal with the administration & development cost collection only. Empire has also expanded its team in terms of management, build management, accounts & administration.
Empire is currently developing & managing properties for Paul, his family, DPIL & DPDL, & private consultancy clients. He currently has 600 units under management to include the various aforementioned portfolios & consultancy clients.
Empire has recently developed a 25 unit permitted development conversion called Britannia Inn in Balby, Doncaster, 12 months after acquisition.
EPH2 Investment Profile
Development 2 – Halifax House
A commercial to residential conversion via full planning permission which will create 65 one bedroom & two bedroom apartments. The development will provide private letting accommodation in a prime location with parking.
- £1,250,000 – Purchase
- £2,275,000 – Development
- £3,525,000 – Total Cost
- £456,300 – Income (65 x £135 x 52)
- £5,700,000 – Value based on 8% yield
Development 1 – Globe Works
A former mill to residential conversion via full planning permission, which will create 24 one bedroom, 90 two bedroom & 10 three bedroom apartments.
- £1,700,000 – Purchase Price
- £6,200,000 – Development Cost (124 x £50K)
- £7,900,000 – Total Cost
- £1,024,800 – Income (24 x £600 x 12) + (90 x £700 x 12) + (10 x £800 x 12)
- £12,800,000 – Valuation based on 8% yield
- £8,960,000 – Refinance exit (70% LTV)