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Discover Belfast, an evolving urban city ascending within the realm of mid-sized European cities as a premier hub for business investment.  The latest benchmark report by FDi Intelligence reveals Belfast’s remarkable ascent to fifth place, affirming its appeal to astute investors seeking promising opportunities.

Here are SIX key reasons WHY Belfast has been listed as the fifth European city to invest in!

1. FDI Strategy Excellence

Belfast shines as the second-ranked city for Foreign Direct Investment (FDI) strategy, outpacing similar cities in the UK and Ireland. This strategic prowess underscores Belfast’s commitment to fostering a conducive environment for foreign investment, ensuring optimal returns for stakeholders.

2. Investment Potential and Business Friendliness

Ranked within the top 10 for investment potential and business friendliness, Belfast offers a welcoming ecosystem for businesses to thrive. With robust support frameworks and a business-friendly environment, the city sets the stage for sustainable growth and prosperity.

3. Collaborative Efforts for Growth

The rankings coincide with Belfast City Council‘s collaborative efforts with local Business Improvement Districts (BIDs) and city partners to showcase the city’s potential at the Belfast Summit. This collective endeavour highlights the concerted drive to attract investment and capitalize on emerging opportunities.

4. Strategic Location and Connectivity

Situated strategically, Belfast serves as a gateway for significant trade with key global hubs such as Dublin, London, Paris, and New York. Its strategic geographic position, coupled with excellent connectivity, positions Belfast as a preferred destination for international trade and commerce.

5. Thriving Ecosystem and Investment Pipeline

Belfast boasts a thriving ecosystem comprising global brands, cutting-edge researchers, and burgeoning start-ups. Backed by a £5.5 billion investment and development pipeline over the next decade, the city is poised for transformative growth across various sectors.

6. Sustainable Growth Initiatives

Belfast prioritizes sustainable growth initiatives, including Smart and Innovation Districts, waterfront development, city centre living, active travel, and green initiatives. These forward-thinking strategies underscore Belfast’s commitment to balanced and sustainable development.

Belfast’s ascent as a premier investment destination underscores its resilience, strategic vision, and commitment to sustainable growth. With its strategic location, supportive business environment, and collaborative spirit, Belfast offers boundless opportunities for investors seeking to unlock the city’s immense potential.

Are you ready to embark on an investment journey in Belfast?

Explore the possibilities with MCG Investments, your trusted partner for navigating the vibrant landscape of Belfast’s property market.

Contact us today to discover how we can help you seize the opportunities that await in this thriving city.

Email us on >> info@mcginvestments.co.uk

The post Why Belfast is a Prime Destination for Investing appeared first on MCG Property Group.

I am delighted to present the Quarter 3 Insights from MCG Investments. As Managing Director of our family-based company, I’m excited to share our recent achievements and plans for the months ahead I hope you find the newsletter useful and informative.

To read our Company Newsletter, Click Here 

The post Quarter 3 2023 | Company Update appeared first on MCG Property Group.

The Post: Acquisitions Manager, MCG Investments

The Post Holder: Philip Rees

An interest in property led Philip Rees to a career as an Acquisitions Manager.

Give a brief outline of your career to date.

I had a number of part-time jobs when I was younger, my first being in Salto, a gym in Lisburn, I then worked in The Empire and two days a week in McGeown Estate Agents when I was at university. I also spent time shadowing property developers in Belfast gaining hands on experience of the industry. Since leaving university, I have held a number of business development and marketing roles for companies in a variety of industries including a social housing company gaining valuable experience in this sector and as marketing manager for Balloo Hire.

What was your favourite subject at school?

Art or Geography.

Did you go on to further/higher education, if so what did you study and where?

I studied Urban Planning and Property Development at the Ulster University from 2007-2010.

How did you get into your area of work?

My uncle owns a large commercial property firm in Ontario, Canada, and he inspired me. During school, I carried out work experience spending one week in an architects office and one week in commercial agents, Osborne King. It was great to get experience of how both operated and I decided being an architect wasn’t for me.

The commercial agents was fast-paced, meeting clients and attending viewings. I had the opportunity to meet several developers, some of the biggest in Belfast and Northern Ireland, and it gave me a taste of my future career.

Over the next few years, I gained further summer work experience within the property industry and through contacts I met, learning more than any books could’ve taught me.

My advice to anyone wanting to get into an area of interest is to just talk to people, don’t be afraid to reach out and ask for work experience.

Is this what you always wanted to do?

I always wanted to be involved in property. At MCG Investments the scale of our projects are varied from identifying and sourcing buy to let investment opportunities for investors, to working on larger commercial projects, it’s exactly the role  I’ve always wanted.

I get great satisfaction from our construction project management service as I love to see the older, derelict properties in our city being transformed and restored, which in turn is helping to create more housing opportunities for our communities.

Were there any particular essential qualifications or experience needed?

No ‘qualifications’ as such. Knowing the market, areas of potential and knowing when to walk away is gained from experience, not learned from a book or quick course. It takes time to build up the knowledge and common sense too.

Are there alternative routes into the job?

You could come from an agency or property industry background.

What are the main personal skills your job requires?

My role requires good communication skills, organisational and time management skills, problem solving, attention to detail and being able to build relationships with agents.

What does a typical day entail?

No day is ever the same I could be meeting with the MCG Investment team to go over project and figures, going to viewings for properties for either  our own portfolio or private clients – this ranges from single buy to lets, buy to flips, HMO’s and larger commercial projects. Then it would be back to the office to work through the figures to make sure it is a commercially viable deal.

What are the best and most challenging aspects of the job?

The best aspect is sale agreeing and then completing a property, sourcing property that exceeds a clients expectations. I also really enjoy talking with agents as I can see some three or four times a week!

The property industry is fast moving and ever changing – the challenge can be predicting the market and how high to go on, bidding wise, on a property or portfolio.

Why is what you do important?

At MCG Investments, we provide a hassle free service for our clients as we understand time is very valuable.  We take derelict properties and transform them into homes for families, students and young professionals – helping not only the individuals, but the local community too.

What advice would you give anyone looking to follow a similar career path?

Decide what aspect of the industry you like. Get out there, gain experience and ask companies or business people you admire if you can shadow them – experience is priceless. Don’t be put off if they say no, be consistent and always polite.

What is the one piece of advice you would give to yourself on your first day?

Take your time and don’t rush.

And finally, what’s the key to any successful job search?

Apply strategically. Don’t apply for every job that you come across, think about what you would like to do, research the companies you would like to work for and take a strategic approach to your job search. Focus on jobs that align with your goals and priorities and tailor your application materials to each specific job you apply for. Don’t copy and paste and just hope for the best – a well written CV, aligned to the job you are applying for will stand out.

Keep up to date with the latest news and views on the NI job market and more by following the nijobfinder blog.

Follow nijobfinder on Facebook, Twitter and LinkedIn to see the latest jobs and to ensure your dream job won’t pass you by.

The post How I Became an Acquisitions Manager appeared first on MCG Property Group.

Tenant turnover, unpaid rent, and property damage can be real concerns for property investors. But, challenges come with solutions…

Speaking from experience, we find the following options are great at helping to minimise the above issues…

1) Professional Property Management

– Explore the benefits of professional property management services. They can handle tenant screening, lease agreements, rent collection property maintenance etc saving you time and stress.

With all of our portfolio building clients we ensure they are set up with a reliable, professional management agent to manage their properties from day 1. We work with a strong network of reliable, experienced lettings agents who we highly recommend. They know their specific area extremely well and know the type of tenants that will thrive in different types of communities across Northern Ireland.

2) High standard of quality accommodation

-Ensure your rental property is kept at a decent, quality standard finish which is clean, regularly maintained with all repairs swiftly addressed, this will entice tenants to remain in the property longer. Rental properties in poor condition will only ensure a high turnover of tenants.

3) Landlord responsibility

-Be a responsible landlord, comply with all statutory regulations. Tenants are aware of the legal requirements their landlords should be adhering to. Be ahead of the game and have all compliance documents readily available and up-to-date for all tenants to view, this will also help to ensure your tenants remain in the property for longer and build a better relationship between landlord and tenant.

4) Long-Term Leases & Tenant Screening

– Consider offering long-term leases to attract stable tenants. Stringent tenant screening processes can help identify reliable renters and reduce turnover.

Investing in property can be rewarding with the right strategies and support in place, if you have any queries please get in touch with us!

The post Does having Tenant Issues stop you from Investing in Property? appeared first on MCG Property Group.

Over the last seven years directors Tanya and Stephen McGeehan have successfully grown their property business MCG Investments Ltd into a burgeoning company, which continues to expand, looking at new opportunities and developing a strong brand in Belfast and NI.

For Managing Director, Tanya, property business is very much in the family DNA. She began managing her family’s property portfolio in 2009, following her father’s illness and sad passing to dementia in 2012.

Tanya is very much the face behind the business, which has grown from a young firm focused solely on buying, renovating, and selling its own properties to growing into a business which now also assists new clients and investors to acquire their own property portfolios.

The MCG Group now has shareholdings in five limited companies and four dedicated staff working closely with Tanya.

The business has enjoyed steady growth in recent years and 2022 was a very positive year, Tanya says- “Over the past 12 months, MCG Investments Ltd and our sister companies have delivered strong performances, displaying resilience and growth in the face of various market challenges,”

“With a focus on creating wealth through property, our portfolio building services, investment in development projects by our directors/partners, as well as several construction/project management jobs for clients, the company has performed exceptionally well.”

“Through effective leadership, the company has navigated through uncertain times while achieving notable success in acquiring property assets with a value today, worth in excess of £3m.”

Some of the firm’s highlights in the past year included:

1.STRONG GROWTH: 2023 has witnessed strong growth for the wider company’s buy to hold property portfolio. It’s strategic investments, specifically houses of multiple occupation (HMO) acquisitions, are yielding impressive returns, surpassing initial projections.

In Autumn 2022, MCG launched a new construction and project management service for clients, that provides renovations and extensions, from basic refurbishment jobs to double-storey extensions and more complex property transformations. This service has proven very popular with both individual clients and larger companies.

This unique service satisfies a demand from the public that previously fell between larger, more expensive developers and small building contractors who prefer to provide only basic labour and individual trades etc. By providing additional services including building control/planning requirements, interior design, architecture input, the MCG service has proven to be attractive and popular with clients who prefer a ‘one stop shop’ for their needs.

2 EXPANSION INTO COMMERCIAL PROPERTY: In the past twelve months, through the firm’s shareholding in TEM Investments Ltd, it has acquired and refurbished its first commercial premises at King House, Holywood. The company modernised the premises and has the vast majority of the 15 units tenanted after modernisation and the remaining units will be ready for new tenants soon.

3 PORTFOLIO BUILDING SERVICES: The company is now working with several high net-worth clients through company structures acquiring buy to let investment properties.  One of the MCG client’s has acquired 13 properties with a market value in the region of £1m utilising less than £500,000 of company funds, leveraging debt and producing over £90,000 gross rental income at a yield of almost of 10%.

An example of a current client investment

Total company capital invested £406,000

Total monthly gross rent £7,550

Total annual gross rent £90,600

Portfolio gross yield 9.72%

Total gross return on capital employed (ROCE) 22.32%

MCG Investments offers a comprehensive property acquisition and development service, specifically designed for investors, aimed at unlocking attractive returns through a variety of carefully crafted property strategies. It’s diverse investment opportunities include the residential buy-to-let sector, buy-to-flip sector, commercial-to-residential sector and more recently, the commercial sector.

“We offer a hands-off portfolio building service, joint venture, property buying and construction project management services,” Tanya says.

“We understand that time is valuable and that a hassle-free streamlined approach to property portfolio building is crucial. We work with a variety of clients from individual investors looking to generate a passive income to high net worth individuals seeking to invest and grow their wealth.  Increasingly we are also seeing new foreign investors who want to invest in Northern Ireland, taking advantage of the opportunities available here including competitive prices, as well as large corporations who want to diversify reserve funds into a different asset class.

We also work with clients who are time poor and require a renovation or refurbishment on their residential home or investment property. We take a strategic approach to project management, leveraging the expertise of our in-house contracting company MCG Construction Services. Our dedicated team of professionals offer a bespoke building and landscaping service, ensuring that every project is executed to the highest standards of quality and efficiency.”

MCG Investments says it is able to bring large businesses’ and potential investors a wide variety of expertise to help utilise excess cash and funds to generate an attractive return on investment. “The client confirms the level of funds they wish to invest and the MCG team manage the entire process from start to finish,” Tanya says.

“That includes the setting up of a separate special purpose vehicle (SPV) for their property acquisitions, identifying and acquiring the best investment opportunities through different property strategies, including standard buy-to-let properties, HMOs, commercial-to-residential schemes, mixed commercial and residential schemes, and social housing. We work with one of our partner brokers to manage the financing of all acquisitions, ensuring we secure the best products available – we will appoint and work directly with the conveyancing lawyers to ensure a speedy turnaround time. We plan and carry out all required refurbishment works to the property (if applicable), including the application and management of the statutory requirements to building control and/or planning. We oversee the interior design of the house, including the selection of kitchens, bathrooms, paint colours etc. We appoint the most suitable letting and management agent and we will approve the tenant for each property, to ensure the best type of tenants are appointed and maximum rental streams are being achieved.”

The business will arrange the re-finance of properties after the renovations have been completed to maximise equity in the SPV, to pre-agreed LTV levels, for the client. The client can be involved as little or as much as they wish, however they can be satisfied that the MCG team can take care of all of the above with minimum fuss.

“As a company we recognise the importance of acknowledging the economic climate and adapting to its demands,” Tanya says. “By leveraging our expertise and constantly evaluating market trends, we remain well positioned to thrive in the future!”.

Ulster Business Article >>> Read Here

Belfast Telegraph Article >>> Read Here

The post Ulster Business Feature Article -The family-run property firm with expansion on the horizon appeared first on MCG Property Group.

One avenue worth exploring is investing in property, which offers the potential for

long-term capital growth, steady income, and a tangible asset to bolster the company’s financial portfolio.

Diversifying business funds across different asset classes is a prudent approach to managing risk and maximizing returns. Property investments can offer a compelling option for companies sitting with excess business funds.
______________________________________________________________________________________________
See below an MCG Investments Corporate Client Case Study

We can help you diversify your Business Funds…

Property sourcing involves identifying and acquiring lucrative property investment opportunities, on behalf of individual investors or companies.

We help them build a long-term property portfolio and therefore long term wealth.

We will spend time researching the property market, analysing market trends and investment potential. We will actively search for properties that will generate healthy returns on investment.

MCG Investments are hired as consultants to help investors identify the best properties to meet their specific investment criteria but in a completely hands-off approach. We want to save the investor valuable time and money to concentrate on running their core day-to-day business.

Once you become a client of MCG Investments, you immediately avail of the extensive network of professionals needed to help build a successful property investment portfolio.

If you would like to learn more about our services and discuss investment opportunities in Northern Ireland, we invite you to reach out to us by emailing info@mcginvestments.co.uk 

The post We can help you diversify your Business Funds appeared first on MCG Property Group.

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The post Quarter 2 2023 | Company Update appeared first on MCG Property Group.

During the recent pro-longed period of rising interest rates, mortgage applicants have faced increased difficulties.

Higher interest rates mean higher monthly mortgage payments, which can strain borrowers’ budgets and affordability.

As rates rise, lenders also tighten their lending criteria, making it more challenging for applicants to meet the requirements for loan approval.

Some of the brokers who MCG Investments work with have reported recently that lenders have been pulling products and rates at very short notice.

Rising rates can lead to a decrease in home affordability, reducing the purchasing power of potential buyers.

Overall, the current conditions make it more challenging for mortgage applicants to secure loans and find affordable housing options.

But people should not panic and we would encourage all homeowners to speak with an independent mortgage broker to consider all their options, e.g they may be able to increase their mortgage term to help bring down the monthly payments which they can then reduce in a year or two again when either interest rates have started to decrease or their monthly disposable income increases.

In relation to property investing the above challenges are equally relevant and the current climate of rising rates, only strengthens the need for those investing in property to be very clear on their numbers when structuring deals.  They should ensure they have incorporated enough “head-room” to cover rising rates and higher monthly mortgage payments.

Investors should avoid using personal funds to support any shortfall between mortgage payments and rental income, as this might repeat mistakes made back in 2008 which we all should avoid.

The UK Government will now need to consider support measures to support lenders and home owners to avoid defaults and repossessions as the stubborn rate of inflation continues to be tackled by BOE raising the base rate.

The post Another interest rate increase, what does this mean for investors? appeared first on MCG Property Group.

The MCG Investments team has expert knowledge of the local property market and strong working relationships with local estate agents which enable us to offer attractive returns to our clients.

~ THE PROCESS ~

Onboarding

Tanya McGeehan, MCG Investments Managing Director will schedule a call, to have an initial conversation about your investment goals. During this call you will discuss the type of properties you would like to purchase, finance options, location, preferred property strategies and your long term plans. You will receive a follow up email summarising all that was discussed on the call, along with our Sourcing Agreement contract to sign and return and relevant compliance checks to complete.

Acquisition Process

Now that the client has been onboarded, we will begin to research potential investment opportunities based on the clients specific criteria, e.g gross yield; budget; location; cashflow etc, creating a bespoke shopping list for each client. We carry out all viewings and extensive due diligence of potential properties and once a potential suitable property has been identified and agreed on, we will send the client a detailed report which will include all relevant financial data, including an estimate of any refurbishment works that may be required; valuations from local estate agents on both market value and potential rental income; internal and external photos; comparables from the area; a map of the area; description of the potential tenants the property would appeal to and finally, some information about the local area, such as local schools, universities, new large capital developments that will increase values in the area in the future. MCG Investments can project manage any renovation or refurbishment works for clients if requested.

Legals
Once the client has reviewed the report and are happy to move forward with the purchase of the property, MCG investments will oversee the entire conveyancing process liaising with estate agents and solicitors on behalf of the client. If the client does not have their own conveyancing solicitor or independent mortgage broker, we can refer them to the relevant professional within our wider team. We will immediately instruct a survey of the property to be carried out, we will review the report and advise accordingly. We will make arrangements for our trades team to inspect the heating and electrics in each property and price any required refurbishment works, prior to completion.

Completion
Once the property sale has completed, we will if necessary, carry out any refurbishment work. We will appoint a suitable letting and management agent and compile all relevant documentation required by both agents to onboard a tenant to the specific property. We ensure the client is properly registered as a landlord and on the TDS system. Our involvement only ceases once an appropriate tenant is identified, vetted and deposit paid.

Please note, MCG Investments is a member of the UK Property Ombudsman; we have all relevant commercial insurances in place to protect our clients and we are registered with the ICO for Data Protection. Client confidentiality is of utmost importance to us. We are not FCA regulated and we do strongly advise all clients to seek their own independent financial and legal advice, before
entering into any investment agreement. A copy of our Risk Guide is provided on our website
https://mcgpropertygroup.co.uk/compliance/

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