Newspaper article The Journal (Newcastle, England)

Juggling Projects Is Matter of Routine

Newspaper article The Journal (Newcastle, England)

Juggling Projects Is Matter of Routine

Article excerpt

Byline: John Hill

YOUNG Alnwick entrepreneur Amy Fettis says her property business is on course to clear pounds 1.5m in turnover in its third year, despite the challenges of the recession.

She set up Principle Property Group at the age of 21 two and a half years ago, acquiring properties for individual investors and larger commercial firms. Not only has she survived the property downturn, but she is now also re-launching her first business enterprise, an online teenage fashion boutique.

Fettis set up missteen.co.uk while studying for her A-levels in Alnwick. She has now renamed the business For Your Inspiration (FYI) and just launched the website.

She said: "I've always had an interest in fashion and I'm quite girly in that respect.

If the long fine. I don't term gain ... at "Missteen was my first step into the business world, and I thought it was as good a time as any to re-launch it as we're offering a service which is online and affordable. The idea is to give young people who are photographers, models and stylists the opportunity to do shoots with the products and give them the chance to build their portfolio. "I like to feel like I'm doing something which is quite good because sometimes the big property transactions can feel quite sharky."

Fettis, 24, left her job at Newcastle's Highgate Property Investments to set up Principle PG, but the downturn forced her to immediately change her business plan.

She said: "When I first started, I was working on a lot of off-plan properties and that stopped nearly straight away because the builders couldn't risk building without guaranteed sales.

"We quickly moved over to selling stock properties which the builders were looking to offload for quick sales. It's only in the last six months that off-plan has started to be mentioned again. While builders had completed properties on their books that hadn't sold they weren't able to commit to starting more developments from scratch.

"Before I was looking to help people build small portfolios for pension plans and that turned into more commercial deals. The transactions have been much larger. The discounts have been up to 30% under market value which is a huge saving. I never would have expected that there would be opportunities to do deals like that.

"The biggest success for the business in three years is being able to survive. Because I started the business at the right time, at the start of the recession, my overheads were very low.

"By keeping my overheads low but continuing to grow the business aggressively, I've been able to move straight in when an opportunity arises. We're moving back into off-plan now, which is quite exciting."

focuses on term, we'll be there's short Among the deals struck is an agreement with Frank Haslam Milan which gives the company every unsold, assisted living apartment completed or under construction to sell to private investors. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.