A UK house builder that had found itself in difficultly, largely as a result of the reduced lending appetite from the banking sector as well as the fall in the value of land held by the company engaged Think Assets.
We were given the task of helping the management team reposition the business to overcome the lack of demand from the traditional customer segment, principally first time buyers. Equally, there was an identified need to add value to the product, as it had largely become commodity due to oversupply in the local area.
As a result of reviewing the core capabilities of the firm and working with the executive team Think Assets created a strategy to reposition the business from solely house building to creating purpose built serviced residential properties for the retired and semi retired.
Our involvement extended to assisting the developer to execute the strategy by sourcing a suitable joint venture partner as well as providing advice on land remediation relief, which could be claimed on an identified site, improving the post tax cost of undertaking remedial works.