Blackpool Housing Company’s business strategy is very simple: we purchase poor quality property and improve it to provide high quality homes that set a new standard in the private rented market within the inner areas of Blackpool.
Through imaginative design and reconfiguration, we will add significant value to the properties and neighbourhoods in which we work.
Quite simply, our vision is to become the landlord of choice in Blackpool whilst improving the lives, homes and neighbourhoods for people within the town. In short, we buy property, we improve it and we rent it.
We have significant development expertise and a good working knowledge of the local housing market in Blackpool. Our objective is to build a viable rental portfolio, with the necessary scale and focus, to make a positive impact on inner Blackpool. Creative design and construction expertise enable us to improve poor quality hotel, holiday flat and HMO stock to meet modern space standards and improve energy efficiency thereby saving our tenants money and lowering their use of fossil fuels.
Since our beginnings in August 2015
We have undergone a period of rapid growth acquiring properties to a value which is currently in excess of £2m. Our aspirations are to develop an institutional scale residential property portfolio of 1,000 units over the first 10 years of business with a growth rate prediction of 80 – 100 units per annum.
Our leasing and commercial expertise means that we can produce structures that guarantee long-term investors secure and predictable cash flows, underpinned by robust counterparty covenants.
We are a wholly owned company of Blackpool Council with guaranteed funding of £27.6m. Our intention is to explore further funding opportunities from a variety of sources, from commercial lenders through to Government supported loan finance made available from the Homes and Communities Agency. We will also be actively seeking to attract venture capital support in order to obtain the necessary financial resources to enable future growth in our core markets.
Currently, our properties offer both a steady rental yield and also the potential for short-term capital growth. Our experience and expertise is used to keep property investment and management cost effective and time saving. In order to achieve this we have a key focus on the following four areas:
- Buying well
- High occupancy
- Maximum yields
- Low arrears
Our senior leadership team is made up of high calibre individuals
Who each have significant experience of delivering successful business outcomes in the property and regeneration sectors. It is led by David Galvin who has held a range of senior positions for large organisations, including Salford City Council, Housing Connections Partnership, Savills UK Associate and City West Housing Trust.