Vision Developments was established in 2008 and have successfully managed four prime mixed use property assets within Manchester City Centre, and one retail and leisure development in Northwich, Cheshire. The combined end value of the 5 assets is circa £150 million.
Whilst Vision has a number of development projects themselves, Vision also provide Development Management Services and undertakes this role for a number of real estate owners.
The primary investment strategy focuses on delivering property assets that have clear opportunities to add value within a 3-5 year time frame. Positive yield shifts due to general market conditions will be viewed as a bonus and not the basis for a purchase.
Longer term (5-7 year) development opportunities are also targeted, but wherever possible seek properties that generate temporary income to off set holding costs and where there will be strong end user demand to enable re-development.
At the helm of Vision is Stephen Cliff. Stephen is an experienced property development and investment professional with over 21 years experience in the property industry.
Stephen was also responsible for the initial master plan and development of a 20 acre site known as First Street, at the Southern gateway to the city centre. The first phase comprised of the refurbishment of an 180,000 sq ft office which is now occupied by Auto Trader, Amaze and Pizza Express.
Since Vision was established in 2008 there have been some exiting projects. 53 King St, the former Manchester headquarters for Lloyds bank has been fully refurbished and now fully let, Invicta House in Spinningfields has been estate managed and now has a planning consent granted for an office redevelopment, Manchester Hall (formerly Freemasons Hall) has commenced a full refurbishment, a planning application for an office on Bridge St in Manchester is due shortly, and the £80 million retail and leisure development in Northwich has been managed. Its been a busy few years through mostly a period of recession!
The ethos of Vision Developments can be summarised in the following principles:
01. Buy prime. Demand from occupiers and investors will be more resilient during down-turns and the first to recover in upturns
02. Each project much have a clear strategy to add value within a short time-frame
03. Deliver value for funders, joint venture partners and occupiers
04. Pay attention to detail from project inception to conclusion
05. Always consider the worst case scenario
06. Think like an end user
07. React quickly to opportunities, even if it is to rule them out
08. Build long-term relationships with like-minded organisations and individuals
09. Operate with honesty, integrity and respect
10. Aspire to be successful, not famous. We will go about our business in an under-stated, confident manner and the brand will reflect these characteristics of our personalities.