The £300,000 Property Development Mistake

In this episode of the OMZ Property Podcast, I sit down with property developer Vinay Sharma to break down a real development deal that turned into a £300,000 mistake.

Vinay started his property development journey with smaller projects before moving into mixed-use schemes, airspace developments and multi-million pound sites.

But during one project he made a decision that many developers are tempted to make… trying to increase the planning permission mid-build to add two extra flats.

What followed was a 12–18 month delay, refinancing the development loan, planning appeal costs and hundreds of thousands in additional finance costs.

In this episode we discuss:

• The real cost of changing planning permission during a development

• How a planning gamble ended up costing around £300,000

• Refinancing development finance when a project runs over time

• Moving from small projects to multi-million pound developments

• How to source development sites through commercial agents

• Why choosing the right contractor can make or break a project

• Airspace developments and building flats above existing buildings

• How developers scale from small deals to £10M+ projects

Vinay also shares the real numbers behind several development deals including:

• A mixed-use scheme with 2 shops and 6 flats

• A £3.5M airspace development in Bethnal Green

• A potential 31-unit development with a £14M GDV

If you are interested in property development, raising development finance, finding sites or scaling a property business, this episode is packed with valuable insights and lessons.

This episode is sponsored by Trinity Finance.

Trinity Finance is an FCA-regulated mortgage brokerage specialising in:

• Development finance

• HMO mortgages

• Commercial finance

• Bridging loans

• Buy-to-let mortgages

If you need help funding a property deal contact the team:

📧 info@trinityfinance.co.uk

📞 01322 907700

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