Chris Henshall, founder of Henshall & Partners, tells us all about his path to success at the Southwark-based agency he founded in 2017.
Chris, what was your path to becoming a founder of Henshall & Partners?
Since graduating from the University of Exeter in 2011, I’ve enjoyed an excellent grounding in the property industry, before setting up Henshall & Partners in 2017. My first role was at a niche agency in south London, where I spent five years building my knowledge and understanding of the sector. During my time there I was tasked with growing a new office and building my own database from scratch, which helped me establish relationships that I still enjoy today.
One of my best years at that company was in 2015, where I transacted over £500,000 in revenue. This was before I was then headhunted by JLL to join a new team that had been created to focus on the City Fringe market and head up Investment and Development. After spending 18 months at JLL dealing with more institutional clients and larger lot sizes, I decided that I was ready to go out and set up on my own.
Fast forward to today and Henshall & Partners is celebrating its 5th anniversary and we’re on the back of an incredibly successful period, which has seen us secure over £100million worth of deals.
Your work is focused mainly across south London; how is the area performing at the moment and are there any particular hotspots?
We have been a Southwark-based business since inception in 2017. We were recently delighted to occupy our new office in Great Suffolk Yard on Great Suffolk Street. This enables us to really live and breathe the area. It is a market that is so well connected via both mainline train stations (London Bridge, Waterloo and Blackfriars), along with several Underground stations (Borough, Elephant & Castle, and Southwark), aiding access across London in quick time.
I believe there is still plenty of capital growth in the borough of Southwark, especially when you compare its proximity to the city and discounted pricing levels for offices rents, retail and residential. This compared to similar London districts like Farringdon and Shoreditch. We see our own future growth mirroring that of the area and our aim is to become the leading agent in the area across all sectors.
Another London hotspot for us is Forest Hill. It neighbours some high-value and popular places like Brockley and Dulwich. This is always a key indicator to look for when searching for a value hotspot that has the potential for strong future growth. Our team recently saw institutional investor London Metric purchase a warehouse building from us for £5million on Malham Road SE23. This set a record in the area and provides excellent potential returns for the new owner.
The opportunities you list range from large, private sale residential developments to affordable housing units, how does the approach differ when sourcing suitable buyers?
Our offering in the market is quite unique due to the wide-ranging deal profile that we cover. We find that handling a mixture of property types keeps us on top of everything going on in the market and allows us to cross-sell our skills.
This is testament to the success we have encountered and is underpinned by the forensic approach to each sale/asset class. No one property is the same, so each instruction requires a bespoke approach, enabling us to keep up a high volume of transactions year-round.
The fundamental principles we have within our process of selling any type of property include:
Understanding the reasons ‘why’ what we are selling is a desirable purchase to its likely buyer. Whilst the market has moved more into the tech space and online, it is vital to talk to purchasers and explain the key selling points. This alongside understanding your buyer’s requirements and marrying the two up successfully.
Secondly, we ensure the property is presented in the best possible way. We put together bespoke brochures, HTML mail outs, social media campaigns and the best ranked listings across a range of property portals to reach the desired audience.
Finally, exposure to the right target audience is absolutely essential. We have over 50,000 engaged contacts across our range of databases and nearing 10,000 followers on platforms like Instagram, ensuring our sales reach the right suitors.
Chloe Hill and Cameron Mair
Does the market feel stable for the foreseeable, or are global events beginning to make things feel slightly more volatile?
There is no doubt the real estate industry was rocked by Mr Kwarteng’s mini-Budget in September. Clearly the aftermath of rate rises and a decline in the value of sterling is a cause for concern for property owners. This alongside inflation and energy bills soaring to create a squeeze on affordability criteria. However, from my experience the property market is resilient, and in particular, the London market. There are always two sides to the coin and so when the market is down there is an opportunity for investors to take advantage of any potential future price adjustments.
From a sales point of view, we expect to see more activity during 2023, especially buyers with cash, who have been waiting on the side-lines in recent years. We anticipate landowners with higher levels of debt needing faster sales. In particular, on vacant or poorly managed properties that no longer stack up financially. This will inevitably come at the cost of some value.
What would you say to somebody thinking of selling land to a developer, what are the main points for them to consider?
This is our bread and butter and at the moment we are stressing the importance of working with an experienced land agent to handle the process. Land sales and pricing are impacted by a wide range of factors and so it is essential they are advised by someone with an extensive track record in the sector.
Time management is key. Each seller may have differing requirements on when they want to receive their proceeds. However, if a sale is what you want and time is on your side, then it is important that you are patient and implement a detailed sales strategy to maximise the final value. The process often takes a sustained period of time and a lot of hard work!
Which schemes are you marketing for sale at the moment?
We have a fantastic mix of developments and opportunities on our books at the moment, which include:
- A collection of 22 high-quality affordable homes within a new development in Bermondsey. The scheme is under construction and is suitable for housing associations.
- A 22-acre greenbelt site in Stanmore that was previously occupied as a golf driving range, but is perfect for longer term redevelopment.
- A range of new build commercial units both for sale and rent in a range of locations, including Richmond, Hackney, Hayes, and Deptford .
- Portfolio of roof space development opportunities in prime parts of Greenwich & Brixton.
And finally, what’s in the pipeline for 2023?
We have enjoyed a fantastic 2022 and our ambition is to carry that forward into 2023 and build on that growth and success. We have been delighted to welcome Chloe Hill and Cameron Mair over the past 12 months, who have proved to be exceptional assets for the business and have amplified our offering. Our new office has some seats to fill, so we are looking to expand further and will be recruiting like-minded individuals with a real ambition to excel in the industry.
Excitingly, our New Homes offering will be launching during 2023, with a couple of schemes getting under construction in Southwark in January. The team will be focused and specialise in the SE1 market. To complement this, we have a few exciting development sites to sell in Q1 of the New Year which range from 25-100 units. If you are looking to get on site in January, then be sure to get in touch with our team.
Find retirement homes in Greater London
Find Help to Buy homes in Greater London
Find new homes in Greater London