Property firm invests in Hull for growth
Hull based Buy to Let and lettings specialist Property Investment Portfolio (PIP), has invested heavily in a major £100k regional office refurbishment to accommodate the present and future growth of its business.
Owner Arv Soar, who himself has built a portfolio worth in excess of £22 million, has extended and totally refurbished his Anlaby Road regional offices to create a better customer experience for his many clients and business associates, and also to house a larger team. The refurbishment has also facilitated a significant IT upgrade allowing the business to increase its service offering to customers who invest in the region from around the globe.
Since its launch in the city in late 2007, PIP has increased its own managed property portfolio in Hull and now has several hundred properties under management. The company has continued to expand its management side by also selling properties to its Buy to Let investors and has renovated hundreds of former derelict properties in the area to meet client demand. It has also increased its Hull office team and has contracted maintenance teams, which now comprise over 40 skilled tradesmen.
Rather than cut back on his investments during the recession like much of the property market, Arv, who is a regular property market commentator on national television, decided to take advantage of the current market conditions and increase his market share.
With the recession now officially over, Arv believes that Hull will begin to see the second stage of its property boom. He says:
“Property prices are still rising as Government investment in the area continues. The rental market is also seeing increased demand in certain areas, due to the demolition of older properties in others.
“There is a buzz about the city again in the residential and commercial investment communities and PIP is at the forefront of this.
“We’re always looking to buy more property, and are launching our ‘Equity Fast’ scheme in Hull, which has already proved successful in the East Midlands, where it has enabled property owners to sell and complete on their properties at a speed which suits their needs. We use our own funds and forward buying facilities in this scheme to effectively cash purchase and complete on sales in a matter of days where necessary, and it’s our excellent backing from our banking partners that enables us to do this. We’re also looking to extend our own portfolio of managed properties in 2010, and Equity Fast will help facilitate this.”
PIP has also recently added an external lettings service to its offer, due to demand from external landlords looking for a proactive letting agent, meaning that it will now also look to find tenants for other landlords’ properties. The company is also looking to grow its office-based team in Hull with several planned new hirings this year.
For more information about Arv and Property Investment Portfolio, log on to: propertyinvestmentportfolio.com