What will the UK’s property industry look like in 2024? The good news for investors looking to take a chance in the market is that the outlook for early 2024 remains especially positive. We sit down and get to know Kane Andrews, CEO and founder of the award-winning Rockstar Property Partners, and discuss all things property investment and his advice for 2024.
Rockstar Property is a UK-based property investment company that acquires and develops high-end properties across the UK. As an ex-professional drummer, Kane founded Rockstar Property in 2020, building on the foundations of his music and business knowledge that stretches back to the early 2000s.
Start by telling us a bit about yourself and how you got into property investment?
I bought my first property at the age of 22. This was a result of the frustration I experienced previously as a renter and so I sought out to change and positively impact the tenant experience. Flash forward to 15 years later, Rockstar Property have developed over 70 investment properties with a gross development value over £25,000,000, all with a 100 per cent success rate.
What’s Rockstar’s niche in the property sector?
As an organisation, our primary focus is multi-let properties rented to companies on very long-term contracts. We simply take a three-bedroom residential house and split it into six high-end, all-ensuite bedrooms. By doing so, not only do we increase the rent by up to four time the market value, we also optimise the property value by an additional 60-100 per cent.
What new trends do you see impacting the property space in 2024?
The greatest impact is increased interest rates. However, analysts have said that with inflation falling faster than anticipated, the Bank of England could start cutting interest rates as soon as June 2024, and possibly sooner. Because our tenants pay 3-4 times the market rent, our investment properties can absorb this increased interest rate, whilst remaining in a profitably stable position.
What’s your best advice for people new to property investment in the UK?
Learn before you earn. I’m a great believer in educating yourself, by collaborating with those that have 10, 20 or even 30 years-more experience than you. Learn from other people’s mistakes, so as to avoid them yourself.
At Rockstar Property, do you offer options for investors?
We have two options. Investors can either joint venture with us for a long-term income. Alternatively we also offer fixed returns for 12-24 months, at an interest rate that is far- above the industry average.
Why choose Rockstar Property Partners to invest?
This answer for me is simple. It comes down to experience and transparency. After 14 years of executing this model with a 100 per cent track record, we remain incredibly transparent in our approach by offering a heartfelt service to all investors, regardless of the company’s size.
What do you see as the biggest opportunity for the sector in 2024
The number of properties that have come to the market at a opportunistic-asking price is perhaps one of the biggest opportunities we could see in 2024. Due to the The Renters‘ (Reform) Bill, introduced to Parliament on 17th May 2023, a number of landlords are exiting the market. This has already posed as an opportunity for Rockstar Property, to acquire more stock at a favourable value.
