City centre office expansion for agency in buy to let hotspot

An agency that specialises in letting and managing properties in one of the country’s investment hotspots is expanding into a new city centre HQ.

North Property Group has relocated into One Brewery Wharf, a new mixed-use waterfront development in central Leeds. 

The agency was founded by Oli Banks and Tim Coen in June 2017 and now employs a 12-strong team. It is on target to more than treble its turnover in its third financial year to approximately £3m.

“From a standing start just over two years ago, we have grown rapidly and established a solid reputation for advising on high quality, off-plan apartment sales to both new and seasoned investors. These are often opportunities that we’ve identified that are under market value and will offer attractive yields of more than eight per cent, as well as strong capital growth potential, due to the regeneration and investment taking place in the surrounding area” explains Banks. 

“We then let and manage these properties, within our extensive rental portfolio, which is more than 97 per cent occupied. In addition, we also operate a highly successful sales division, which appeals to clients who decide to cash in or refresh their portfolios” he adds.

Banks says his firm has agreed sales on over £50m worth of property since incorporation and expects to grow this to more than £100m by the end of its third financial year.