Property Investors Awards Property Deal of the Year XP Property

Property Investors Awards Property Deal of the Year XP Property

9:00 AM, 24th May 2023, About A year ago

Text Size

Being dynamic and challenging the norm are the watchwords that have seen Jack Jiggens and Ben Richards from XP Property enjoy success in the property market.

The company specialises in delivering the highest quality residential, commercial, land and mixed-use space and the duo have won a Property Investors Award two years in a row – having won Small HMO of the Year 2021 and now Property Deal of the Year 2022.

This latest deal saw the pair turn an un-loved and under-rented block of 14 flats that were ‘in a terrible condition’ into better quality housing for tenants and generated a 42% increase in rental income in the process.

Extensive renovation was needed for the flats, such as internalising a new access, replacing a hazardous external metal staircase and refurbishing most of the flats with new kitchens, bathrooms and flooring.

They were also able to turn a large one bed flat into a two bed flat, adding £120,000 of value for that flat alone. The main structural works included a loft extension which comprised the installation of six new dormer windows and a completely new roof.

Jack and Ben said: “Agents are now much more confident in our abilities given we’ve bought a historic building and doubled it in value.”

One of their recent acquisitions (a 10,000 sqft office building) was brought to their attention by the same agent.

XP Property invests in any type of property. The company believes a developer’s job is to look at real estate and decipher what is the best value – taking into account the risk involved, time and reward.

Being fairly young (both the company and their ages), Ben and Jack pride themselves on lowering risk and maximising investment before anything else. This has helped them secure a lot more investment from their partners, with many of them reinvesting on multiple developments with XP.

Jack and Ben said they sometimes see other developers go for ‘ego-building schemes’ which they say look great architecturally, but when you get down in to the numbers they often fall short.

They add that over the last couple of years other issues have affected their business including “build costs going crazy, and interest rates increasing”.  They have managed to navigate the storm by adding value at every step of the development journey.

The duo say they have a big pipeline of projects planned for 2023 so if you would like to get in touch with the XP team then email or call 0203 916 5027.

To find out more about the Property Investors Awards please click >>

Share This Article

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership


Don't have an account? Sign Up

Landlord Tax Planning Book Now