This week, we’re going deep with Andy Graham as he shares his journey from HMOs to commercial-to-residential developments! 🏗️

We unpack:

• Andy's journey from physio to property developer 👨‍⚕️➡️🏠
• His approach converting commercial properties into residential developments
• The power of partnerships in scaling up 🤝
• Real-life projects from Sheffield to Kent

Some numbers that might surprise you:

• Andy's first development: Under 3,000 sq ft was extended into 6 units
• Current pipeline: 100+ flats in development
• Target capital uplift: Minimum 25% on projects
• Timeline reality check: 2-3 years vs quick HMO flips ⏱️

Key lessons for HMO investors eyeing commercial:

1. Planning is a whole new game (and often a "black hole" of costs 💸)
2. Other income streams can buy you breathing space - development isn't about quick cash
3. It's a volume game - individual units might yield less than HMOs
4. Main contractors are essential - small additional costs per square foot can make or break deals

Success strategies we uncovered:

• Building relationships with commercial agents
• Understanding local development context deeply
• Having contingency plans (sometimes you need to sell some to keep some)
• Working with partners who complement your skills

🎬 Fun fact: Some of Andy's developments have even been featured on Channel 4.

Some key reflections:

1. The planning system might be "fundamentally broken" - but knowing how to navigate it is crucial
2. Commercial to resi development is about long-term capital growth, not immediate income
3. Understanding your local market deeply lets you move fast when opportunities arise
4. The right partnerships can transform your ability to take on bigger projects

Whether you’re considering a shift to commercial or just curious about different strategies that are out there, this episode is filled with valuable insights. Andy’s journey from HMOs to large-scale developments demonstrates that every developer begins somewhere - often with a single property and a desire to learn!

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Useful Links:

The HMO Roadmap: https://thehmoroadmap.co.uk/

CPI Website - https://commercialpropertyinvestor.co.uk/

Our Sponsors - https://commercialpropertyinvestor.co.uk/podcast-sponsors/