PROPERTY
Thriving – Magnum Properties ’ HQ in Middlesbrough ’ s Linthorpe Road .
WORDS : PAUL FRASER PICTURES : STUART BOULTON
Happy returns on investments
Magnum Properties delivering for a ‘ fairer price ’
Over the last 12 months , Magnum Properties has seen the worth of a portfolio of properties it manages extend by an additional £ 5m to £ 25m .
Clearly , the Middlesbrough-based residential and commercial sales and lettings agency knows what it ’ s doing .
And what ’ s more , Magnum claims to deliver an exceptional and successful service for a fairer price – without cutting any corners for the client .
Magnum , a name synonymous on Teesside for launching as a well-known packaging business around 40 years ago , has become a serious player in the commercial and residential property marketplace .
And after reporting how the commercial arm of the business has gone from strength to strength across Teesside and the Tees Valley , outstanding results in the residential area of the business is leading to more and more customers .
Magnum ’ s methods are , generally speaking , saving landlords and investors money .
“ Or making it ,” says commercial director Aaron Fisher from the head office on Linthorpe Road .
“ Someone might come to us on the residential , management side of the business and say , ‘ I have £ 50,000 , what can I do ?’ said Aaron .
“ What we would do for them is find them a house to buy for £ 30,000 , they will have £ 20,000 spend on renovating it and then I will get them back a six to seven per
Service – if you have a residential property you are selling , Magnum Properties wants to hear from you .
cent return on that investment a year . It is the same for larger properties .
“ In commercials , ten per cent returns are pretty standard for our customers . I have got more in other cases . The biggest success story was getting 25 per cent . We can back that up .”
Magnum wants to hear from you if you have a residential property you are selling . They offer a wide range of services , covering all the usual advertising portals , and will offer management solutions moving forward if you are letting . The usual selling fee is £ 995 plus VAT .
Aaron said : “ I ’ d claim that nine times out of ten the property doesn ’ t even need to hit the market to get the customer what they want with us . We can provide the same service as everyone else for a lower investment from the clients .
“ Our services are streamlined in such a way that it takes less man hours to provide
the same result . We advertise on the usual portals , with our own website .”
In this day and age there is a growing trend for the public to try to sell on social media , or find a tenant that way . Magnum knows there are pitfalls to that strategy .
Aaron added : “ We make sure the tenant has all of the relevant checks . Those advertising on social media are essentially opening themselves up to a world of rules and regulations they are not prepared for .”
Magnum already has a strong reputation and company bosses are determined to make sure its surge continues through its extensive list of contacts that is more than likely going to secure a quick sale at a realistic price .
Aaron said : “ We have contact lists from thousands of people , meaning we have investor details from across the country .
“ If someone says , ‘ I have this house worth £ 80,000 , if you can get me £ 70,000 as a quick sale , I will do it ,’ we then send to a list of investors , say it is ten per cent less the valuation – and this is to investors who can typically complete within 28 days .
“ The investor has the option to sell for £ 80,000 for a quick profit or we will find them a tenant and get them their nine per cent return .
“ We have connections with lots of property owners from out of the area . These tend to help us obtain properties with prices you couldn ’ t dream of on Zoopla or Rightmove . We will put a tenant in so the investor gets their money back in under 10 years .”
* For more information visit magnumproperties . co . uk
126 | Tees Business