The Company

Acheson Homes Limited (AHL) is new a Belfast-based residential development company. We started the business in response to the opportunities presented by the challenges in the residential development market.

We have assembled a first class team who have experience in the delivery of thousands of new homes, in the Greater Belfast area.

Inherent demand, driven by demographics and the stability of our public-sector led economy, makes the recovery of the housing market inevitable. The experts and analysts debate only its strength and timing. Residential development can take many months and sometimes several years to deliver. Now is an opportune time to enter this market, during a downturn, to deliver new homes as the property market recovers.

The conventional route, of bank debt finance, is constraining otherwise viable projects. We have developed a business model which uses private equity to unlock development opportunities. Our strategy is to work in partnership with land owners, investors and financial institutions to pursue projects within a carefully defined market niche.

Working with and for local communities will be key to our success. Our commitment is to quality in everything we do - design, construction, customer service, social and environmental responsibility and communication.

Richard Acheson

Acheson Homes Ltd.

Acheson Homes Ltd.  I  104A Circular Road  I  Belfast  I  BT4 2GF  I  telephone: 028 9076 9055  I  email: info@achesonhomes.co.uk

Our Market Strategy

Our market niche is affordable homes within the commuter zone of the greater Belfast metropolitan area - home to 40% of the Northern Ireland population, and the hub of economic activity.

Delivering affordable homes

in the Greater Belfast area

This market sector encompasses property with prices in the range of £50,000 to £250,000. We have identified two further markets

1. -   Due to the increased aging population we will be developing
   

     retirement homes and homes for assisted living

-    Small exclusive developments on infill sites

     within established residential areas

To reduce risk and cash-flow exposure, AHL avoids multi-story development unless end-users have been contracted in advance.

25 Years of new home

market experience

The company targets sites with capacity for up to 100 units, but will consider larger projects that can be developed on a phased basis. We favour projects that have the potential for strong sales and construction phases lasting between 12 and 36 months.

Private Finance Solutions

Developers continue to be challenged by the limited supply of bank debt finance. The banks themselves are exposed within this sector and struggle to recapitalise as a result of lending against over-inflated land prices.  Corporate and debt restructuring exercises are now releasing previously encumbered land to the market. These sites are, in some cases, valued at between 10% and 30% of peak (2007) levels.

Land valued at between

10% and 30% of peak (2007) levels

AHL, with its financial partners, has secured access to private equity funding. Our business strategy is to use this platform, in the context of realistic land values, to provide new homes to an under-supplied market.

We are project / opportunity driven. We make astute use of private equity finance to leverage AHL’s own resources into multiple, larger and more rewarding projects. Our approach is tailored to today’s circumstances in relation to bank liquidity and uncertain land values. AHL has funds available to purchase land and  is also prepared to negotiate site-fine licence agreements with overage to allow financial institutions and land owners to share the up-side, as values recover.

Private finance secured

AHL’s project finance model supports projects that have a peak cash-flow exposure of between £300,000 and £1.5m (gross development value up to £15m). Private equity investment is used to fund work-in-progress. As and when it is available, bank finance will be leveraged into projects to improve investor returns. We consider larger projects where working capital requirements can be contained by developing on a phased basis. AHL has capacity to undertake multiple concurrent projects.

Superior investment returns

AHL is driven by value creation - we select projects on the basis of their potential to deliver superior returns in the context of our funding model. We use our skills and knowledge to mitigate the risks inherent in residential property development.