We talk to Clearview Developments’ director, Jason Tema, about the company’s ‘smaller but perfectly formed’ developments and his tips on buying a converted home within a period property.
As a director at Clearview Developments, what does your role entail on a day-to-day basis?
As we are a boutique developer with an in-house construction arm, my role is extremely varied. No one day is the same and that’s what I love about this career. My responsibilities range from securing funding for the projects to selecting building material; from handling planning permission to overlooking the construction sites, to choosing interior finishes and more.
You worked on building sites while you were doing your law degree, did you always feel you were destined for a career in property?
Growing up, my father actually worked on construction sites as a builder which gave me the opportunity to accompany him and get a first glimpse of the construction world. It’s always been fascinating for me to witness the construction process of a building and see the final creation. Very rewarding. My studies in law do come in handy, particularly when negotiating purchase agreements, structuring investment, handling planning permissions and negotiating terms and conditions with suppliers as well as local authorities.
Broadwater House
Clearview prides itself on its high standards of traditional craftsmanship, something not always associated with new build homes; why is this so important to you?
We’ve learned first-hand from our clients that today’s discerning buyers and renters value the exclusivity of traditional craftsmanship. House-hunters want more than just a standard white box that has the same finish as the development down the road, next door or in the same building even.
The problem is that developers are under immense pressure to build homes quickly and efficiently with tight budgets. As a result, most have almost no choice but to introduce a standard design, which is why new build homes often lack personality.
To set ourselves apart from the competition and close a gap in the market, we’ve chosen to develop schemes that are smaller and ones that allow us to be almost 100% hands-on from start to finish bursting with quality, charm and an ambience that are hard to match.
You often sell properties that exude character, such as conversion apartments in period houses. Are there advantages from an investor’s point of view to buying properties such as these?
From an investment point of view, I’d say that the value of conversion properties is as much subject to the overall property market performance as the value of new build homes. Having said that, we have found that period homes tend to attract buyers and renters who are looking to build more of a long-term home. This would translate into longer tenancy agreements, which is an ideal situation for any investor planning to let their investment property.
Those looking to sell their asset should also not struggle to find buyers. Besides the fact that there is an ongoing, strong demand for properties in the UK, conversions are often sought-after gems due to their spacious room layouts, high ceilings and personality.
Broadwater House
What potential pitfalls should buyers look out for when buying a conversion within an older property?
When buying a completed conversion, most of the usual rules apply. Firstly, ensure that the property developer behind the project has a successful track record of similar projects and a positive reputation to match.
Secondly, don’t skip on an independent survey to determine if appropriate measures have been taken to give the exterior as well as the interior the necessary overhaul. Particularly important to check is whether or not the electric wiring, piping, insulation and all structural work has been given a 21st century facelift.
Do you offer any incentives to your purchasers?
We do offer Help to Buy. In addition, all of Clearview Developments’ properties come with a five-year developer warranty as opposed to the standard two years, in addition to a 10-year structural.
What schemes are you working on at the moment?
Broadwater House in Tunbridge Wells, which is a conversion of a 19th-century former mansion. We secured planning permission to breathe new life into the building and added an extension that mirrors the existing architectural design. With completion scheduled for Q1 2021, residents will be able to enjoy bright and spacious interiors that celebrate the property’s history with reinstated ornamental ceilings, decorative stucco and floor-to-ceiling windows.
The newly built apartments, which are spread across three floors, will echo the style and design of the original building, whilst offering all the modern conveniences of 21st-century living. These include video entry systems, charging points for electric cars, bike storage, hard-wired fibre broadband and more. Located within a conservation area, Broadwater House will spoil its residents with unrivalled tranquillity and direct access to the nearby flora and fauna as Broadwater Down features the only official, public entrance to the adjacent Hargate Forest. The forest is set in an Area of Outstanding Natural Beauty.
Broadwater House
With prices starting from £450,000, Broadwater House offers a total of 14 one-, two-, three- and four-bedroom apartments which also includes a selection of beautiful duplexes.
The other project we are currently working on is Bargate House in Guildford. This former nursery school building will feature apartments with prices starting from £300,000. The scheme has already been 60% reserved.
How do you think the effects of COVID and the realities of more home-working will change the way you build homes for future buyers?
It’s difficult to predict the long-term impact that COVID-19 will have on the priorities of our buyers. The benefit of our construction process is that, should a buyer purchase their home off-plan, we can still accommodate their wishes such as a home office.
Should the market experience an increasing demand for home offices, it might actually evolve into a revival of closed room layouts rather than open-plan living. This would provide privacy to work, study or just spend quality time alone.
How is the property market performing in the areas you’re operating in this year?
We specialise in commuter towns which have always been a popular choice for a wide range of buyer demographics as well as renters. As a result of the COVID-19 outbreak, these regional markets are actually witnessing an increasing interest from house-hunters who are keen to leave the big city behind but wish to continue benefitting from good transport connections.
And finally, what’s next for Clearview Developments?
We have a number of schemes that we are currently taking through planning that will be a mix of apartments and houses in addition to what is currently being negotiated for purchase. As we move forward, we will continue to build beautiful homes for sale and also for rent which our operator arm, Clearview Properties, will manage so that our brand and customer-centric approach is not lost.
As a business, we are looking to launch a fund that allows investors the opportunity to invest directly in the group. From a delivery point of view, we continue to explore off-site construction methods in our ambition to build beautiful sustainable homes in the future.