T&T Assets Group
About Our Business
T&T Assets Group was set up to incorporate a development arm which focuses on converting run down and out of date commercial premises into modern, innovative residential units and small business units. The business is predominantly operating in the East and West Midlands and has two or three developments in progress at any given time.
The T&T Assets Group and its subsidiaries and also The Sadler Gate group, undertake similar developments but with separate investment partners.
T&T Assets Ltd and further T&T Asset Development Ltd was formed upon Peter the co founders return from delivering construction projects in Australia. The mutual beneficial experience of the prospective team and the proposed activity in the East Midlands planned for 2020 meant that a new joint effort and group was formed. The construction business was formed in late 2021 to keep control of construction costs in an inflationary environment by taking it ‘in house’ and insulate the wider business from 3rd party contractor risk and rising material and labour prices.
Our Company Values
Courage in Curiosity - We challenge the ‘done thing’ in all areas and cover new ground without FEAR.
Continuous Improvement and delivery - We make it happen and improve with reflection.
Clarity - We relentlessly question ‘Why?’
Consideration - We make it simpler for our colleagues and our customers, putting efficiency at the heart of every decision to make life easier.
What Differentiates Us
We build our projects to hold for the long term and take responsibility and ownership of every stage of the development and asset management cycle which gives us far greater control of our business. We believe this is what will differentiate us by making sure we are able to grow and thrive, irrespective of the market conditions and sentiment. Through good times and bad we will be protected from exterior risks by controlling all the internal variables. A wall of income cannot be achieved through 'Build - Let - Forget' so by starting with the end in mind we engineer our developments to be sustainable over the long run stand the test of time.
KEY Information
Registered company name: T&T Assets Group
Year started in property investment: 2012
Operational areas:
The Midlands
Typical portfolio type: Apartment blocks (Commercial to residential conversions)
Portfolio value: £12.8m
LTV across portfolio: 68.8%
Ave ROI on owned projects: 60%
Ave private funding amount: £250k - £2m
Ave term length: 1 year
Ave interest offered: 12%
Securities on borrowing: 1st and 2nd charges depending on structure
Meet the Founder/S
Carl Tranter
Investing personally and through 'Special Purpose Vehicles' in chosen investment areas since 2012.
Has worked with private and institutional investors on various terms, arrangements and structures since 2016.
10 years business experience and from 2013 to 2016 working on commercial development projects of up to 60,000 Sq ft. Valuable experience gained from working with project managers, developers and primary contractors / national level contractors. Retail business analysis experience at a senior level for 5 years with sole accountability for £27M turnover and heading a team of 124 staff and 11 direct reports.
Vast experience with Permitted Development and change of use planning permission, offering paid expertise to aid other developers schemes.
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Our Existing Portfolio
We own a mixture of commercial and residential units across the East and West Midlands predominantly with 90% of this stock being conversions of former commercial buildings into 1 and 2 bedroom apartments and small retail units. Our target net margin sits at around 55% after all costs and we are hoping to reach 50k per month of gross income and 25k minimum net profit per month by the end of 2024. We plan to grow this through 2025 as we have around another 100 units under construction currently.
The Ethos Behind The Portfolio Type We Work With
We predominantly work in the commercial to residential conversion space to minimise risk. New builds present sub terrain risks that can not be seen and can present unforeseen delays and additional costs. Despite one of the directors being a groundwork specialist, these sorts of projects are generally avoided or at least risk mitigated pre-purchase. We also operate largely under the umbrella of permitted development to eliminate planning risk. When this is combined with our in house construction operation it becomes obvious that this is the correct route to be taking as it only leaves the risk of finance to then be controlled from external forces.
CASE STUDIES >>>
PROJECT 1
158 High Street
The Property & Strategy
Commercial Conversion' from Solicitors office to 2 commercial units, 7 x 1 bedroom residential apartments and land at rear with pre-app for 5 further new build apartments.
Numbers
Project started date: Aug 2022
Project completed date: March 2023
Financing method: 20% Own money, 25% Private borrowing & 55% development finance
Purchase Price: £285,000
Cost of Works (including finance costs): £334,000
Legals, professional services and fees: £22,000
Total spend: £641,000
GDV: £910,000
Profit from costs: 70.4%
Annual cashflow after all costs: £27,105
Location
This development was right in the Town Centre, on the 'High Street' with garden area and the River Trent and conservation area to the rear through a gate at the bottom of the 'garden' which used to house the stables which formed part of this former coaching inn built in the late 1800's. The location is a central as it could possibly be surrounded by food and beverage amenity as well as excellent transport links to nearby Derby and Birmingham.
Planning
Permitted development was used here in the form of Schedule 2 Part 3 - Class G and also Class MA following the law change in September 2021. The purchase agreed before buildings of this use class could be fully converted to residential use. This involved an exchange with delayed completion but not on a subject to planning basis - we also had to submit a Noise Mitigation Strategy due to its location as this is one of the conditions of Class MA.
Additional information
The location of the project speaks for itself so it was really about creating a superior product in terms of amenity, design and level of finish to distinguish it from local competition. The end user, in our case, our customers and tenants are always at the forefront of minds. An example here being the small retail / office spaces below the small business rates threshold. This dramatically reduces the amount of potential overheads for our tenants and makes the units more accessible for a range of SME's.
Learn more
https://drive.google.com/drive/folders/1RwIJ-09vxBJvljpm75ppzYWHM1zoQoOn?usp=drive_link



