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 which was set up in September 2009.
The Company intends to use the funds raised, to acquire suitable commercial properties, and strategically renovate and manage these assets to achieve the guaranteed returns.
Investment will provide a double digit return on investment, and allow investors to benefit from opportunities in the real estate market without management commitment or concentration of investment in any one property.
Once converted, the properties would become a commercial asset, whose underlying value whilst linked would not be reliant on the variable housing market price index.
The Company plans to take full advantage of current market conditions and acquire assets through the following methods:
Initially acquire three commercial properties in prominent towns or Cities
The funds will be used to acquire & develop the property into residential accommodation.
The properties will be renovated using permitted development rights where possible, or the equivalent full planning requirements.
The Company will then liaise with known private, and council letting contacts, to speedily let and manage rooms.
The cost of every project and every future project can be standardised to provide a business plan for each property. The details of each potential project will be input into a feasibility spreadsheet and the viability can be quickly assessed.
The main factors affecting the project are the purchase price of the property and the cost of renovation. Each room is given an average cost to complete, which takes into account all aspects of the renovation, project management, administration, licensing, and liaison with councils.
The only other factor is the purchase price of the room and therefore in each case, we can identify the purchase price of each room that should not be exceeded.