Project One: An industrial unit for my three existing companies

“In April 2022 I set up my property company, Myreton Property Investments Ltd and bought this 6,500 square foot industrial unit via an auction and rented it to three of my existing companies.

“It is the best bit of business I’ve ever done.

“It has two offices downstairs and offices upstairs along with ample storage and warehousing space on the ground floor.

“It is a very nice mix between warehouse storage space and offices.

“By separating the building and renting it to three companies, all three companies qualified for 100% rates relief.

“It surveyed up as a vacant commercial property at £330,000 and fully tenanted at £400,000 and I managed to purchase it for £300,000. The biggest challenge was the timescale to complete was only four weeks, so I had to use bridging finance which was quite expensive.

“In total I receive £42,000 per annum for this building!”

Project One: Breakdown

• Valued at £400,000
• Purchased at £300,000
• £100,000 equity plus £42,000 per year in rent or £3,500 per month

Project Two: Commercial property for 12 tenants

Greg continued, “Around the same time (April-June 2022) I bought this 26,321 square foot established industrial estate with 12 tenanted units for sale. 

“It was a retirement sale. It surveyed up at £850,000 and I purchased that for £800,000.

“It had a rent roll of £83,000 per annum, which I have managed to increase to £102,000 per annum.”

Project Two: Breakdown

• Valued at £850,000
• Purchased at £800,000
• £50,000 equity plus £102,000 per year in rent or £8,500 per month

Project Three: Small shops and industrial units

Greg concluded, “My final property project of 2022 was when I purchased a mixed bag of small shops and small industrial units.

“This project consisted of two shops and four industrial storage units. These came fully tenanted from the same two gentlemen that I had bought the industrial estate from.

“This mixed bag surveyed up at £225,000 and because the two gentlemen were looking to retire I made them a cheeky offer of £175,000 and they accepted.

“The rent roll on this site is £23,000 per year. I will be looking to increase that to around £30,000 per year as the tenants’ leases come up for renewal.

“In addition to this I’m in the process of setting up our SSAS and transferring my wife and I’s personal pensions to it to buy more commercial property with.”

Project Three: Breakdown

• Valued at £225,000
• Purchased at £175,000
• £50,000 equity plus £23,000 per year in rent or £1,916 per month