With his most recent done deal, John Waterston, owner of Transworld Business Advisors of
East Yorkshire, found he is supporting the revitalisation of the North, with a key business investment.  

 

John Waterston, owner of Transworld Business Advisors of East Yorkshire, was introduced to someone who was looking to sell his business, so he could focus on other development projects. “As a member of BNI, I was introduced by a colleague in my chapter to a property entrepreneur who had been trying to sell his business for two years. He had worked with other business brokers and agents, so was wary of yet another one,” John explains. “But having been introduced to me through a personal recommendation put him more at ease, and trust was quickly established between us. This is an important foundation for a successful business deal.”

 

The Hull-based business was formerly a hotel which had been developed into 13 high-end residential apartments and two businesses on the ground floor. “I recommended we split the business into phases, to make it easier to sell,” says John. “The asset being a mix of commercial and residential space proved challenging, especially for prospective buyers of the residential areas. They tend to rely on competitive funding and re-mortgaging. So, we needed to find a buyer with the capacity to acquire a large asset, or portions of a large asset, with the flexibility to structure the deal outside conventional approaches, without being reliant on conventional mortgage funding.”

 

John finds the biggest strength of Transworld, and the training he has received lies in their ability to assess a challenge like this, accurately. By using the global network of 500+ brokers, he identified how to approach the correct market, and find the right quality buyers. Having tested the market for a few months, John was able to classify the most suitable buyers for this property, and decided upon finding a buyer for each phase. “By intelligently assessing the entire proposition, I knew how to present it correctly to the right audience. This is how we found the right buyers, to achieve the best outcome for both buyer and seller.

 

It was through using one of Transworld’s marketing tactics, John was approached by an agent acting for a London-based investor who wanted a business opportunity in the North. Typically seen as less favourable, in recent years, North England is experiencing a resurgence of investment which is proving profitable and supporting regeneration of many cities. “My first phase buyer wanted a specific venture. He liked four of the apartments, when I presented the opportunity to him,” John explains. “We agreed a price and the deal was closed on the first four apartments just as the New Year started.”

 

John’s done deal is an excellent opportunity for Hull, for a number of reasons:

·       Securing the sale of phase one raised the profile of Hull to a wider group within the investment community. Investors feel more secure, when they see others investing in a
new area

·       He’s already closed on the other nine apartments

·       Attention can now focus on selling the ground floor assets

·       As a result of successful phased investment, the overall value of the asset has increased, substantially, for the seller

·       Investments such as this, contributes to the regeneration of Hull’s economy. Investors can acquire excellent value assets, providing employment, opportunities and additional
revenue, locally

 

Upon completion of phase one, and near-completion of phase two, the deal has been worth £2.4m; with a further £600k expected for the final two assets. “My seller is happy – after more than two years of a stalled sale, as are my buyers, and my credibility as a business broker increases,” John says. “People are comfortable with how I work, which is massively important if I am to be successful on their behalf. It means a lot to know they trust me, and the Transworld method for the sale of their business. I am passionate about my region, so it has been an added bonus to know I am also giving back to the future of the City, by aiding investment into key northern cities.”