After a very successful first year of business, the company had acquired 23 additional apartments on lease by May 2013. Furthermore, it was decided to expand the Tulip Real Estate Team bringing on board administration executives and cleaners to provide great services to all the tenants. With the increase in demand, the company started acquiring 4-5 HMO Bedroom Houses on leases and started letting out serviced rooms on short-lets. These leases were taken on a minimum of 5- Year contract period with the landlord and the apartments were refurbished to match high specifications and to cater to the needs of working professionals in the area. The improved services and a bespoke product resulted in generation of high rental yield. The standard of services provided were always a highlight in the tenants’ reviews and satisfaction surveys.
Climbing the success – Siddharth Mahajan
Subsequent to an overwhelming response from customers, Sidd Mahajan Tulip began expanding the avenues of his business and started exploring opportunities with serviced apartments and new build properties that were meant for sale. Mahajan was stringent about rules and regulations, as well as the services they offered, which earned him more clients and a great reputation in the hospitality sector.
Year on year, he kept adding properties to his offerings of service apartments to expand his business. In the recent past, Tulip Real Estate added Mansﬁeld Road Block and Gants Hill Block to its kitty to increase inventory. Following that, the Tulip team underwent more expansion with more professionals adding onto the bandwagon to manage and assist in the operation and procurement of various blocks to extend the growing model. The company also invested in the new builds in Essex Areas and government afﬁliated with Help To Buy Scheme. The real estate company acquired more residential blocks for rental purposes and also New Build residential development sites with the assistance of various reputed teams of building contractors and commercial support of development funding banks.
As a greatly ambitious entrepreneur, Sidd Mahajan Tulip decided to further his business avenues by establishing Orchid Apartments, an Apart hotel that concentrates on its relationship with the customer because it realizes and agrees that this is the most crucial aspect to its long-term success.
Orchid Apartments – A new Venture
Orchid Apartments has a line of service offerings to choose from that are a lucrative deal for clients like comfort apartments, deluxe apartments, executive apartments and suites.
Orchid aims to be the go-to brand in premier destinations in the United Kingdom for those seeking great memories of their trips. It wants to create personal experiences for guests, which they would cherish all along. Orchid also strives to be the first choice of destination for its esteemed guests, members, associates, communities and investors.
One of the latest New Build Projects Tulip placed on the market was “Wannock Gardens” that comprised of Two x three bedroom, semidetached houses. These luxurious apartments were soon sold out because they came with the Help To Buy Scheme for first time buyers. Another project the company introduced is “Chapel Court” that entails 15 units of New Build apartments at South Ockendon. Situated in the historic Ockendon Vilalge, Chapel Court has in its vicinity some excellent shopping facilities and local amenities offered by Lakeside Shopping Centre and Upminster making these brand new 1 & 2 bedroom apartments, the ideal property purchase for a first time buyer or investment purchaser. With a good response garnered from clients on the new build projects, Tulip Group is now set to present a new entrant – Forest Gate at Stratford, London.
Over the years, Mahajan has grown his business manifold. He tapped into different verticals of the real estate industry like the serviced apartment space, as well as HMOs and New Build space. Tulip Real Estate always envisaged to develop as a private, diversified property group, active in the UK in several sectors, and taking a long term view of markets and its objectives.
Siddharth wanted his business to be recognized for strong financial performance; excellence in quality of design and service delivery; and for the long-standing impact of the company’s core values on what they do and, in particular, how they do it. His multifaceted approach towards expanding the business worked well in his favor and thus the young Indian entrepreneur found immense success on foreign land.