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1 page 02 About page 04 Experience page 06 Partnerships page 08 Approach page 18 Buying page 24 Team page 28 Contact 2 3 About Delph Property Group believe in the power of partnerships. That’s why, since 1948, we’ve been collaborating with developers and builders to realise their vision. Whether you’re looking to sell a development pre-construction, fund a development off plan, sell completed stock or need someone to partner with for PRS, Delph is a forward thinking and experienced residential property company that can be relied on. Est. 1948 Almost 70 years of experience in residential property 4 5 Experience Experience you can count on to build shared success. For almost 70 years, Delph Property Group has been investing exclusively in UK residential property. Founded in 1948 by DJ Crocker, Delph is a family We buy off plan or completed apartment blocks business now run by brothers Paul and Howard. from 50 to 400 units in city centre locations across Since it was founded, Delph has been solely the UK. We also offer forward funding and large focused on residential property either through deposits to reduce risk for builders and developers. investing or developing, giving us unparalleled experience that sets us apart from other companies. 586 units purchased in the last two years 6 7 Partnerships Working together to build for the future. We’re as committed as you are to making your development a success. At Delph Property Group we like to do things a little differently. The power of this approach is evident in the relationships we We work collaboratively with builders and developers from have built over the years. If a builder or developer is offered start to finish on any project, taking pride in our ability to a residential site, we want them to see Delph as their partner provide expertise, support and specialist knowledge whenever of choice. it is required. Every business relationship we develop is considered a partnership. As every project is unique we listen to individual needs and we work pro-actively to create a deal that is beneficial for everyone involved. “Returning to Delph a second time was a no-brainer. Their team brings something to the table that I can’t find anywhere else. ” - Gareth Morgan | Director, Fortis Homes Partnered with Delph on schemes in Manchester and Birmingham totalling 207 units 8 9 Approach These examples demonstrate the variety of ways in which we have recently helped builders and developers. 01 | Off Plan 02 | Forward Funding 03 | Pre-purchase Partnering 04 | Completed Stock 10 11 Approach 01| Off Plan Delph Property Group offers deposits and staged payments of up to 40% on construction milestones. This helps cash flow for builders and developers and often enables better finance terms. It also cuts out sales risk and future marketing costs. Aria Apartments, Leicester Delph exchanged contracts on the Along with a straightforward exit Location: Number of units off plan purchase of a block of 93 strategy, Delph worked with Convoy to Leicester purchased: 93 apartments in Leicester city centre from produce a specification that met market Tenure: Convoy Investments. Construction requirements and helped the builder to Freehold Vendor: began on the apartment block in maximise its profit margins. Builder January 2016 which will comprise 19 studios, 25 one-bedroom units and 49 two-bedroom apartments. Delph was approached by the builder “The nature of the deal with Delph has been great for us as it simplified in 2015 – a deal was quickly agreed and contracts exchanged in late the whole development process leaving us time to concentrate December. By selling to one buyer, fully on the construction of the apartments. I’ve found the team Convoy improved their cash flow, very amenable and we have worked well together agreeing the encouraged its bank to lend, and provided serious savings in interest specification and dealing with the legal process through to exchange payments and all sales and marketing of contracts.” - Kerry Beattie | Director, Convoy Investments costs allowing them to move quickly on to their next project. 12 13 Approach 02| Forward Funding Delph Property Group is able to buy the land and fund construction on stage payments or interim valuations, subject to using a suitably robust building contractor. This allows builders and developers to clear the balance sheet, eliminate risks, and make large savings on marketing, sales and finance charges. Merchant Square, Bedford Riverside As part of the much anticipated Delph agreed to purchase and fund Location: Number of units regeneration of Bedford town centre the residential apartments prior to Bedford purchased: 46 led by Bouygues UK Ltd and Coplan construction commencing, thereby Tenure: Estates, planning permission was removing the associated risks of the Head Lease Vendor: granted for a mixed use scheme residential element of the scheme from Developer consisting of a 100 room hotel, a the mixed use developer. multi-screen cinema, high quality restaurants, residential apartments and a new market square. The 46 private “We are delighted to have worked with Delph, as our residential residential apartments occupy a prime location facing the River Ouse with all partner for our Bedford Riverside North project. Our respected skills of the one, two and three bedroom ensured that the needs of both the commercial and residential apartments having balconies and the occupiers were met in full through the design process, something that benefit of water views. is rarely achieved in mixed use developments. The legal process was straightforward and we look forward to working with Delph on future projects.” - Colin McQueston | Director, Coplan Estates 14 15 Approach 03| Pre-purchase Partnerships If a site has planning permission granted, partnering with Delph Property Group prior to land purchase has many benefits. Not only can it help secure the deal, but it significantly improves cash flow and also helps secure better funding terms by completely eliminating any sales risk. GQ7, Manchester Delph acquired this significant The site has full planning consent Location: Number of units 15 storey apartment building in for 146 residential apartments, Manchester purchased: 146 Manchester City Centre’s Green 68 secure parking spaces and large Tenure: Quarter after partnering with Fortis communal garden. Head Lease Vendor: Developments. Having worked with Developer Delph on a previous development, Fortis approached us to partner them and with our assistance was able to secure the site just a short walk from Manchester’s Victoria station. “The funding model that Delph provides offers an attractive alternative to traditional bank finance. As a result we are pleased to have completed this second deal with them and we look forward to working with them again on future developments.” - Gareth Morgan | Director, Fortis Developments 16 17 Approach 04| Completed Stock We will purchase part, or the whole of, a development once construction has been completed. Selling all the units in a single transaction can allow the developer to move onto their next project quickly and easily and ensure total exit from the scheme, while simultaneously reducing marketing and sales costs. West Tower, Liverpool West Tower, Liverpool, was purchased At 40 floors, and at a height of 140m, Location: Number of units by Delph following an open market West Tower is Liverpool’s tallest Liverpool purchased: 106 campaign on behalf of the Receiver. building. The iconic mixed-use Tenure: skyscraper is ideally located within Freehold Vendor: During the highly competitive bidding Liverpool’s business district and boasts Receiver process, Delph was selected as the panoramic views across Liverpool and preferred buyer due to its strong offer the Mersey. and certainty based on its previous property purchases and reputation. “Our initial contact was with Nick Belkin, Head of Acquisitions, and after supplying the relevant information, viewings were arranged. Nick and his team attended the scheme and, within the proposed timescales, submitted a formal bid supported with the necessary proof of funds. Delph dealt with the acquisition professionally and to a timeframe that was mutually acceptable and appropriate to a sale of this nature.” - Shannon Conway | Director, Jones Lang Lasalle 18 19 Buying Step one Builder/developer contacts Delph • Address • Plans and provides as much information • Schedule of accommodation We are a small, • External elevations/CGI’s as possible on the development • Planning history pro-active and Step two efficient team. Delph carries out desktop appraisal We have the ability to work quickly and of the scheme closely together to make decisions. Step three Wherever the scheme is located in the UK, we have We aim to carry out our due diligence and be in a systems and procedures in place to efficiently work position to make an offer to the builder or developer Delph visits the site to assess out the feasibility of each development we look at. within two weeks of receiving all the necessary information on the development. the scheme and carry out local due diligence Step four Department heads sign off scheme Step five Managing Director approval Step six Offer made 20 21 Delph in action The Delph portfolio Delph Property Group has purchased Established residential developments across the UK. UK London Birmingham Battersea Bristol Bermondsey Camberley Blackheath 1948 Cardiff Brentford Kingston upon Thames Chelsea Leicester Chiswick Liverpool Cockfosters Manchester Enfield We currently Up to Nottingham Hampstead