31/07/2022
We are coming to the end now of a four year road🤨
We first analysed this deal after we had completed the Progressive Commercial to Residential course🎯
Some learnings
1 To buy an old police station you have to prove you are a fit and proper person- you get caught for months in red tape😅
2 Public Bodies and Charities have “an anti embarrassment clause🤔
3. Not everyone wants to save the High Street -our next battle was to get planning permission because unbeknownst to us a charity shop had done a pre app and they were the preferred buyer🙃
4. Listen to your gut - we thought we were the only bidders but at the last moment we upped our offer to £172,000 - which seemed like a deal breaker at the time😢
5. Planning permission was eventually granted by 1 vote by a councillor who did not live in area🙏
6 . They would not give us planning permission for residential- which caused me to have tears, tantrums and sleepless nights because we only had 1 exit and no foreseeable way to get finance🤔
7 A private investor came onboard - he earned £36,000 and we took the value to £450,000💥
8. The world changed - from October 2022 serviced accommodation will need planning permission - which we already have for 8 apartments 😊
9. Property prices in the Cairngorm National Park- rocketed bringing them to within shooting distance of Edinburgh- we never expected that🎉
10. Collier’s International Surveyors have just valued our little cop shop at £1,600,000😁
My friends this is not a get rich quick scheme, it takes persistence and grit but if you can’t stand the heat - should you be in this game ?