Mid-Ulster based company, MCG Investments, has experienced in excess of a 300% in growth in the first quarter of 2021 as a result of changing its business model due to the pandemic.
Moving from working solely on its own property portfolio, it has expanded its service to include private investors and joint venture partners, which has led to the creation of four new jobs.
Since its formation in 2017, the company had completed 12 property projects up to March 2020 and after implementing its new operational plan over the last year, MCG Investments has secured 10 new residential property projects from January to April 2021 already.
Tanya McGeehan, Managing Director of MCG Investments said: “The last year has been a very challenging and worrying time for most business-owners. At the beginning of the pandemic, we looked at our business model and put a strategic plan in place to ensure our company would survive first and foremost. We decided to be brave and pivot and in addition to working on our own property portfolio, we launched a new service to facilitate private investors and joint venture partners. This has transformed the company and I’m pleased to say that the results have been hugely successful for us.
“We have increased the number of projects we have across Northern Ireland with a similar number of projects in the last four months as we had in the entire three years before, and we have also been expanding our reach with a development in Doncaster working with UK investment partners. Our ‘Buy to Flip’ service, which had a modest turnover of £350,000 in the accounts filed in January 2020, has achieved sale agreed on over £1.48m worth of property transactions in the first quarter of 2021.”
“Our new strategy of working on behalf of investors who wish to utilise our expertise in property sourcing and portfolio building services has been really well received. This will continue to be a key focus of our business growth in the months ahead and we have secured a number of new clients, including one who is in contract to buy 20 properties in Belfast in 2021.
“The success of MCG Investments over the last four months has resulted in the creation of four new jobs and we have plans for further job creation in the months ahead as we prepare for continued growth.”
And as the property market looks set to thrive for the remainder of this year and into 2022, MCG Investments is encouraging people across Northern Ireland to think of their future and consider the benefits of an investment property as it is more achievable than most might think.
Tanya McGeehan added: “There is a perception that you have to be wealthy to embark on an investment property journey. That is simply not true. With it being estimated that over £2bn has been accumulated in bank accounts in Northern Ireland over the pandemic as many were fortunate enough to be able to save money, now could be the time to make an investment, as the local property market is currently very buoyant with levels of activity not seen in almost 15 years. I would advise people to seek professional advice if this is something they are considering. At MCG Investments, we are on hand to provide the help and support if you don’t have the experience or the time to go out on your own – our success can become your success too.”
Newsletter Article by Claire Cartmill