Pictured: Arv Soar
Nottingham property company Property Investment Portfolio (PIP),
has begun a £20 million construction project in Cornwall to
refurbish a former MOD residential site, earmarked for luxury
development.
The new project, which will see PIP acting in conjunction with
private investors to refurbish the exteriors and interiors of 120
former MOD properties, has now begun at St Eval.
Multimillionaire property developer Arv Soar, owner and director
of Property Investment Portfolio, has now invested heavily in the
specialist construction arm of his business, PIP Construction, to
fulfil the project. In addition to spending over £100,000 on
new plant, he is expected to recruit a further 50 new employees for
PIP, including an operations director in the coming months. These
employees will be based across PIP's three locations in Nottingham,
Hull and now in St Eval.
"There is a huge demand for luxury housing in Cornwall and St
Eval is an extremely desirable location, being situated so close to
Padstow and the North Cornish coastline," explains Arv Soar.
"Our core business is the provision of property investment
opportunities for investors and lettings, but we have always
operated a construction division, which has developed individual
properties and streets and constructed the various developments
that we ourselves have launched.
"The St Eval private investors partnering with us were impressed
by the standards of our previous refurbishments and my proven
knowledge of working effectively in both 'bull' and 'declining'
property markets. In this market, construction firms need to have
even more strategic property market knowledge to survive and
prosper and this is what we bring additionally to this
project."
The St Eval development, will comprise 120 luxury, 3 bedroom
executive properties.
This new project follows the successful growth of Property
Investment Portfolio, which last year invested £100k to
extend and refurbish its offices in Nottingham and Hull to create a
better customer experience for its many clients and also to house a
larger team.
Arv, who is a regular property market commentator, launched PIP
in 2005 and now has several hundred properties in Nottingham and
Hull.
"We will hopefully be announcing another, larger construction
project in the next month and are actively seeking new development
opportunities," concludes Arv.