Property authority, Jerry O’Brien. With many years’ experience in the industry and working in Asia, he explains why his knowledge is key to the company’s growth in a booming market.
The tide has turned for the UK property market and with it, the sentiments of investors who are choosing to put their money into a safe and tangible asset. “The UK is currently an attractive option for international property buyers and there are a number of theories for this.” says Jerry. “We have a stable government and stable laws regarding the purchase of property. There are no limitations for international investors. You can buy as many houses as you like. The rules are very black and white. This is different in an emerging market, where law can be subject to change.”
Having just completed a year with Mistoria, the position sees him seeking suitable property opportunities for anyone looking to invest in the North West of England. “The role is all about picking up below market properties and passing these onto investors so that they enjoy greater yields.” says Jerry. “We also need to start focusing on the residential sales side of the business. Clients can see Mistoria boards, but don’t think about the sales element of the company. It’s all about changing those perceptions. Building relationships with local councils, sourcing at auctions and getting down to grass roots will see this come together.”
Having worked overseas for more than 20 years’ Jerry has all the experience necessary to steer the Mistoria Group through its next crucial phase. “Mish has a great product and we are starting to see investment creeping out of London and hitting the regions. Manchester and Liverpool in particular are ideal cities in which to invest. Property is still affordable on a comparative scale and the student population is vast. At some stage, London will run out of property to buy at a price that is achievable to many and the Northern cities are a good alternative. Rental cash yields are between 8-10 (net) and we are starting to see healthy capital growth. It’s an exciting time to be part of the e company. Mish is driven and open minded and I look forward to working with him. There are busy days ahead.”