2016/17 Company Results

Accounts for Kensington & Falkner Estates Limited (development and trading company) and McDonald & Hamilton Estates Limited (buy to hold company) have been filed for the financial year 16/17.

Both companies remain profitable with strong balance sheets. Some of the highlights of the year include:

Current buy to hold portfolio valued at £1.7 million.
Ø An increase of shareholder funds of 257% achieved, mainly by purchasing below market and adding significant value during refurbishment.
Ø Kensington and Falkner became a shareholder in YPN Crescent and YPN Pearn that are currently delivering 2 developments in Plymouth with a GDV of approximately £4.8m. The first development (The Crescent) is due to be completed and handed over in March 2018 and the second (The Pearn) around September 2018. To date, pre-launch sales have been strong with just over half of all units being reserved.

17/18 has also seen a strong growth in acquisitions. As well as additional purchases in Liverpool, property has also been acquired in Manchester, Redditch and Pontypridd. Whilst yield returns in these areas are not as strong as Liverpool, it is seen as prudent for the company to diversify given the current reliance on the Liverpool Student market.

All completed projects are fully let, with 2 recent acquisitions currently being built out.

Additional trading activity continued in Birmingham and London with carefully selected partners.

In September 2018, Dan Hill was appointed in an advisory role for 12 months to assist with the growth of both businesses and my own personal portfolio. That work is progressing well and I am confident it will lay strong foundations for robust performance in the years to come.

And finally, thanks to all my trusted advisers and business operators who have supported us during the year and looking forward to a continued collaborative working relationship.

If you are interested in working with me in the business, or being a joint venture partner on specific projects, please get in touch at billy@billyturriff.com.

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