In 2011, Siddharth Mahajan formed a company to deliver Serviced Rooms and Short-Lets services covering the prime London business districts of Canary Wharf and Stratford areas. The business was established with an initial inventory of 9 Apartments comprising of 30 X Service Rooms on various leases. Tulip Hotels & Real Estate Ltd. received an overwhelming response during the 2012 Olympics and there was no looking back.
|Current Property Evaluation
£40 million properties worth£26 million Lender’s lending£14 million equity
Rentals£220k Monthly Rental serviced rooms£130k Monthly Mortgage payments
About Tulip Real Estate
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 the generation of high rental yield. The standard of services provided was always a highlight in the tenants’ reviews and satisfaction surveys.
Future Growth Plans
AcquisitionsPlan to acquire 40 more properties (250 serviced rooms) in North East London near Elizabeth Line; all stations from Stratford to RomfordNew BuildsSovereign CourtStunning New Development of 10 Uniquely Designed and Beautifully Finished Seafront Apartments situated in a Prime Location along with the renowned Holland on Sea Seafront with its established setting and recently re-generated Sea Defences and New Formed Golden Beaches. These will be 2 three-bedroom Penthouse with exclusive lift facilities and 8 two-bedroom apartments with study room summer Hill TerraceNew Development near Upminster with 4 Three bedroom houses
The Company’s Vision
Tulip Real Estate envisions 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 wants his business to be recognised 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.
The Company’s Strategy
- To deliver sound long-term value and to deliver wholesome returns above the weighted average cost of capital and market benchmark.
- They control risk by means of sustainable gearing, organisation of liquidity and meticulous asset and project management in every part of the business.
- To continue to expand, develop, and consolidate a diversified property asset portfolio in targeted UK locations; focus on expansion by geography, sector, property activity, operational capability and management team.
- To sustain a reputation for quality, integrity and social responsibility
- Employ, engage and develop people who share similar values of loyalty, expertise and integrity and have the skills, drive and ambition to help the company implement its strategy
Tulip Hotels and Real Estate Ltd. is a responsible business committed to working with local communities. They ensure the processes within each part of the business takes into account their social and environmental responsibilities.