Hull Investment Partnership

Invested: 2016
Business Partner: Paul Callis

Synergy Forward founder, Spencer, envisioned building a consortium of investors to collectively pool their resources and created Hull Investment Partnership. The original group, which included 11 individuals, all had a shared ambition: to spread risk and maximising their collective capital with this collaborative approach to investing in properties across the thriving Hull and East Yorkshire area..

From its inception, the partnership was more than just a financial arrangement; it was a way for friends and professional connections to collaborate. Everyone held a small percentage of the larger operation, allowing them to benefit from a diversified portfolio while learning alongside other seasoned and aspiring investors.

Over time, the partnership proved fruitful, but as personal circumstances evolved, and challenges arose (which we’ll explore below), the original members gradually sold their shares.

Recognising the continued potential of the business, Synergy Forward and a key investor, Paul, stepped in to acquire the remaining shares. All shareholders at point of sale achieved at least 5% ROI.

This strategic move brought the business to its current state, operating as a dedicated 50/50 partnership.

Challenge #1

Funding was difficult to access with so many Directors involved

Initially, Hull Investment Partnership faced significant growth hurdles due to its multi-director structure limiting funding options. Having 11 Directors initially created a cumbersome and slow decision-making process, which was particularly detrimental when seeking external funding. Plus, lenders require a straightforward proposition to approve funding, and with multiple Directors, often the “computer said no” when it came to lenders assessing our circumstances.

This effectively stagnated the business's ability to raise capital beyond the group's initial investments. But now, with a more streamlined 50/50 partnership, the process of securing funding is back within reach when required, which allows the business to pursue growth opportunities.

Challenge #2:

Refining the investment portfolio and our overall vision for the group

The initial portfolio was a mix of properties that had been invested in when we were a larger group. Our primary task was to refine our investment strategy by discerning which types of properties and locations aligned with our long-term vision.

This process required a detailed analysis of each asset to determine its suitability and whether it fit our evolving criteria. Now, with a more focused partnership between just us and Paul, we have the freedom to be more selective.

We can concentrate on acquiring properties in specific areas and of particular types that we genuinely believe in. This more deliberate approach takes time, as finding the right opportunities and seeing them through to completion is a methodical process, but it ensures we build a portfolio that reflects our precise goals and standards.

PAUL CALLIS

“Working alongside Synergy Forward with this partnership has been positive from day dot. With Synergy Forward handling the deal procurement and my expertise in project management teamed with our combined experience in property investment, we've been able to maximise both yield and capital growth through a strategy we've meticulously designed together.

Ultralets manage the day-to-day operations which has made our business largely hands-off, allowing us to focus on strategic growth and pursue other independent business interests too. I'm incredibly optimistic about the future and fully anticipate that HIP will continue to grow with significant pace. The partnership works seamlessly, and I'm confident we have a very bright future ahead.”