Steve Boultbee-Brooks, the renowned property and technology entrepreneur who built and led Boultbee Land for 26 years with his brother Clive, has launched a new venture. Boultbee LDN will specialise in the acquisition, development and asset management of prime commercial and residential property.
Located in Marylebone, Boultbee LDN's property and asset management team boasts over 25 years of multi-sector experience. They buy and develop property with improvement potential, presently concentrating on acquisition of land and buildings in London that can profit from redevelopment (typically with a GDV ranging from £10m-£30m). The team have already invested in several opportunities with a GDV of £60m since launching. Looking forward, there is a further £40m worth of transactions in the pipeline.
The ultimate aim of Boultbee LDN is to add value across developments for the benefit of everyone, from JV investment partners and development partners to those buying and living in the end product. They endeavour to achieve this through high-quality design, a wider team-focused approach and a professional product delivery.
Steve Boultbee-Brooks said of the new scheme: “I wanted to create a company that would focus on a particular area of the market, returning to where my career began – London. As a team, we are passionate about seeking opportunities to which we can really add value. Whether we are building a portfolio of shopping centres, offices, or apartments, our approach is always the same: identify an optimum product, review it from a fresh perspective, and deliver it.”
He added: “Our financial goal is to create a £250m property portfolio comprising £100m worth of investments and £150m worth of residential and mixed-use projects in our first year to 18 months of operation, and we are already well on our way to achieving this.”
One of Boultbee LDN’s most recent purchases is a site for residential and retail development in Brockley, South East London. This district has recently benefitted massively from regeneration, including the extension of the East London Line. The scheme, a joint venture partnership with Peverill Securities Ltd, includes 25 residential apartments, a supermarket and two smaller retail units. It is to be managed by Shape Commercial. The site was purchased from a private family trust for £2.8m with funding secured through Titlestone, and has a GDV of £11.5m.
“Brockley is now considered to be a strong residential location of increasing attractiveness to occupiers,” Sean Dempsey, Director of Asset Management, said. “This is principally due to its excellent connectivity and the high quality of its existing properties, which can be ideal live-in refurbishment projects. However, the area needs more affordable, high quality apartment schemes, targeted at both local and new residents, in order to both meet and sustain the high demand.”
He added: “This project is a joint venture with Shape Commercial - over the last nine months, we have been establishing a great working group, based on a comprehensive mix of project skills, within the new team. We are already working on a range of other schemes with Shape Commercial and are really enjoying the creativity and effectiveness of the relationship.”
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