Housebuilders are coming up with some ingenious ways of keeping the sluggish property market on the move and motorcycles-to-houses millionaire John Bloor’s Bloor Homes is no exception.
Bloor Homes – one of the largest privately-owned housebuilding groups in the UK – is offering a two-step equity scheme for housebuyers in which they buy 75 per cent of the house, and pay for the remaining 25 per cent when they can afford it or when they sell. It’s one way of giving people a leg up onto the property ladder.
The Measham-based company is also offering guaranteed value schemes to guard against the danger of a house losing value after purchase.
This activity has kept Bloor Homes moving forward, continuing to build 2000 houses a year through eight regional companies. Recent developments include a 20-home development of four, five and six bedroomed houses in Irchester, Northamptonshire, and a development in the picturesque village of Kirtlington, Oxfordshire. The company scooped the Best Property award in the 2008 UK Property Awards.
It’s been another good year both on the track and in the showrooms for 65-year-old John Bloor’s other business, the revitalised Triumph Motorcycles, and the latest estimation of Triumph’s value keeps John Bloor near the top of our Rich List.
Triumph has recently opened its new flagship dealership on the Trident Retail Park in Watery Lane, Birmingham. The showroom is big enough to show off more than 75 motorcycles.
New models from Triumph’s Hinckley factory include the 1600cc six-speed Thunderbird twin cylinder cruiser and a high spec version of the award-winning Street Triple 675cc machine.
The Daytona 675 continues to build on previous success, and there’s a makeover for the Bonneville range to mark the 50th anniversary of the famous motorcycling icon.
The Derbyshire-born property millionaire rescued the collapsed Triumph in 1983 and has poured more than £80 million into rebuilding the 100-year-old brand. And it’s worked
Turnover and sales are up. Operating profit for the year to June 2007 increased to £12.5 million on a raised turnover of £227 million. In the year to June 2007 Bloor Holdings achieved raised profits of £53 million on a £629 million turnover.
Company value is estimated to be around £700 million, based on a recent estimate of the value of Triumph Motorcycles of around £500 million.
We have made a £10 million downward adjustment to reflect reduced property values.