Hello and welcome back to my property development blog.

I took a bit of a break from writing this as there hasn’t been much of interest to report on. Writing a blog once a month when the only updates are ‘I’ve chased various solicitors 15 times this week alone’ is hard work!

Just because it hasn’t been interesting doesn’t mean I’ve not been busy though so read on to see what I’ve been up to…

Come on a video tour of Project Alex.

In my last update, I reported that the build works had been completed at Project Alex in Southport. Since then, I’ve been in negotiations to lease the building to a care company who house tenants with additional mental health needs.

I’m pleased to report that those negotiations have finally concluded and the lease has now been signed. This is a really good result as it means guaranteed rent for at least five years. The care company has taken the whole building and will be responsible for all the bills and maintenance for the duration of the lease - a landlord’s dream!

Simultaneously, I’ve been working to get the project refinanced which has been a challenge to say the least. Financing this type of exit means dealing with niche lenders and their numerous bizarre demands which has been excruciating at times. I’m so glad it’s completed now as the bridging loan has been repaid and the building is now on a long-term mortgage with a much lower rate of interest.

It’s such a relief to have repaid the bridging loan. These facilities are really useful for developers but they get so expensive when they can’t be repaid immediately after building works complete. That’s the situation I’ve faced for the last few months and it’s been a real frustration not to be able to get it repaid as soon as I would have liked.

Looking at the bigger, long term, picture though this wait will be worth it. Leasing the building to the care company brings sustainable profit for the foreseeable future and it will free me up to focus on new projects.

It’s two and a half years since I first agreed to purchase Project Alex and although I’m pleased with the end result I’ll be pleased to see the back of it!

Take a look at the video above for a review of the finished product and let me know what you think.

*A few photos of a recent viewing in Southport.*

It’s now time to fully focus on finding new projects. I’ve been half-heartedly looking for the last few months (see photos above from a viewing in Southport) but it’s been hard to fully commit to the search whilst I was still negotiating the lease and refinance of Project Alex.

It’s nice to have a clean break between projects for once and I’ve had some off-market referrals from people who know what I do which I really appreciate.

As you’ll probably know by now, I can offer a quick and hassle-free purchase to property owners looking to offload without the hassle of the open market.

I’m primarily looking for smaller, run down properties such as bungalows in need of some refurbishment. Bungalows have quite a specific life cycle and their refurbishments offer me the benefit of a quick turnaround without the need for planning.

Meanwhile, I’m also looking at larger commercial buildings that might be suitable for conversion to residential living spaces. As these projects take so much longer I’m keen to have them rumbling on in the background as well as a few faster ones.

So if you know of anyone looking to sell a property that meets these criteria please let me know. I’m happy to pay referral fees if I go on to purchase so it may be worth your while!

I’m also keen to develop my network of private funders in 2026 so I can hit the ground running when I secure new projects. Being able to act with speed really is so valuable in property as it’s a stark contrast to the snail’s pace everyone else seems to operate at!

So if you know of anyone looking to secure a fixed rate of return on their capital of up to 12% per annum please send them my way. There might even be another referral fee if you’re lucky!

That’s all for now and for 2025.

All that’s left for me to say is thank you to all of you that have supported me throughout this year. It’s been my most challenging yet and I can’t wait to put what I’ve learnt into practice in 2026.

Have a great Christmas and I’ll be back in the New Year!

All the best,

John

Finally, some progress.

Projects Update