MID-Ulster property firm MCG Investments has reported a surge in growth in the first quarter of 2021 as a result of changing its business model in response to the pandemic.
The Cookstown-based firm moved from working solely on its own property portfolio to an expanded service to include private investors and joint venture partners, which has led to the creation of four new jobs.
Set up in 2017, MCG completed 12 property projects up to March 2020.
Managing director Tanya McGeehan said ten new residential property projects had already been completed since the start of 2021.
“The last year has been a very challenging and worrying time for most business-owners. At the beginning of the pandemic, we looked at our business model and put a strategic plan in place to ensure our company would survive first and foremost.
“We decided to be brave and pivot and in addition to working on our own property portfolio, we launched a new service to facilitate private investors and joint venture partners.
“This has transformed the company and I’m pleased to say that the results have been hugely successful for us.”
MCG Investments said from a turnover of £350,000 in January 2020, its ‘buy to flip’ service achieved sale agreed on over £1.48m worth of property transactions in the first quarter of 2021.
“Our new strategy of working on behalf of investors who wish to utilise our expertise in property sourcing and portfolio building services has been really well received,” said the managing director.
“This will continue to be a key focus of our business growth in the months ahead and we have secured a number of new clients, including one who is in contract to buy 20 properties in Belfast in 2021.”
