AJBN November 2024 by AJBN Magazine

Headline Sponsors

Host

IS YOUR ACCOUNTANT HELPING YOU GET AHEAD?

Most accountants can measure where your business has been. Not all of them can show you where it could go.

We’re accountants and tax advisers based in North London and Central London. Individuals and families trust us to help preserve their wealth. Entrepreneurs in property, financial services and other sectors work with us to help grow their businesses.

By getting to know you and your ambitions, we can help you achieve them and give you tailored support when we know you’ll need it.

Thank you

To all our Headline Sponsors, Exhibitors and to all our attendees and for making today so special.

The team,

We hope you all have a great day meeting each other and building special relationships.

Russell Bahar, Bianca Weber & Justin Cohen

Navigating the Property Market: Demystifying Auctions with Auction Property UK

At Auction Property UK, we're proud to be a sponsor of today’s Asian Jewish Business Networking event at Lords Cricket Ground. This event presents a fantastic opportunity to connect with a diverse range of professionals, including those within the dynamic property sector.

As trusted property auction specialists, we understand that navigating the property market can be a complex process. So we’d like to try and help you understand it better by demystifying the auction process and highlighting its advantages compared to traditional private treaty sales.

Beyond Private Treaty: Exploring the Power of Auctions

The traditional private treaty method involves listing a property with a target asking price and negotiating with interested buyers. However, auctions offer a distinct and potentially quicker route to a successful transaction.

Here's what sets property auctions apart:

Transparency and Certainty: Auctions offer complete transparency. The reserve price (minimum acceptable selling price) is set beforehand, and bidding occurs in a public forum. This ensures a fair and open process for all parties involved.

Enhanced Speed and Efficiency: Auctions often lead to a swifter sale compared to private treaty. The sale date is pre-determined, and bidding encourages decisive action from interested buyers.

Competitive Market Advantage: Competitive bidding during an auction can drive the final sale price to its true market value – potentially exceeding the initial asking price in a traditional sale.

Reduced Risk of Gazumping: In a private treaty sale, the buyer with the highest offer doesn’t always end up with the sale. With auctions, once the hammer falls and the reserve price is met, the deal is legally binding. This reduces the risk of last-minute changes or "gazumping" by other buyers.

Selling Your Property with Confidence: What Auction Property UK Offers

Auction Property UK is a leading auction house specialising in selling a wide variety of residential and commercial properties across the UK. Whether you're a property owner, investor, or developer, we can help you navigate the auction process seamlessly. We welcome enquiries from:

Property Owners: If you're looking for a quick and efficient sale with a high degree of transparency, auctions can be an excellent option. Our experienced team will guide you through every step, from setting the reserve price to marketing the property and facilitating the auction itself.

Property Investors: Auction sales offer exciting opportunities for savvy investors. The competitive environment can uncover hidden value and secure properties at attractive prices.

Builder Developments: Auctions offer a swift, transparent solution for selling multiple properties within a development. Our expertise in bulk sales can help maximise returns on your investment.

Individuals Selling Through Probate or LPA Property Receiver: Property auctions can be a highly effective way to sell properties on behalf of an estate or and we understand the sensitivities involved and will handle the process with discretion and efficiency. We are also able to act on behalf of the LPA Property Receivers to help dispose of property assets.

Beyond Auctions: Building Partnerships at the AJBN

While our core expertise lies in property auctions, Auction Property UK's sponsorship of the AJBN extends beyond simply promoting our services. We are committed to fostering a thriving business ecosystem:

Networking with Potential Partners: The AJBN brings together a diverse range of professionals in the property sector. This creates an ideal platform to connect with potential partners, such as mortgage brokers, surveyors, and investment groups. Collaborations can lead to new opportunities and benefit our clients through wider reach and expertise.

Sharing Knowledge and Insights: The AJBN provides a valuable forum for learning from industry leaders and experts. Through panel discussions and networking opportunities, we gain valuable insights into market trends, allowing us to tailor our services to meet evolving client needs.

Visit our Stand and Unlock the Potential of the Property Market

Our MD Joe Joshi and the Auction Property UK Team will be on hand to answer any questions you might have so we really do encourage you to come and visit us whilst you’re at the event today:

Discover the Advantages of Auctions:

Learn how property auctions can optimize your property sale and connect with our team to discuss your specific needs.

Explore New Partnerships: Network with a diverse range of professionals in the property sector, fostering collaboration and growth. Gain Valuable Insights: Learn from industry experts about the latest trends and best practices in the property market.

Be Part of a Thriving Community: Contribute to the vibrant collaboration between the Asian and Jewish business communities.

At Auction Property UK, we believe in transparency, efficiency, and achieving the best results for our clients. For more information please check out our website www. Auctionpropertyuk.co.uk or call the team on 020 3011 2469 or email enquiries@auctionproperty.co.uk

Spector Constant & Williams is a dynamic and commercially-minded law firm.

Our service areas include Banking & Finance, Company & Commercial, Dispute Resolution, Employment, Family, Immigration, Intellectual Property, Real Estate and Restructuring & Insolvency. scwlegal.co.uk

We’re proud to be headline sponsor for the Asian-Jewish Business Network, supporting its unique and invaluable role in bringing the UK’s Asian and Jewish business leaders together.

ABOUT US

We’re a Top 50 firm of accountants, business and tax advisers with offices in North London and the City of London.

We specialise in helping owner managed businesses, entrepreneurs, high net worth individuals and families. Our clients benefit from deep expertise in many sectors, including property & construction; financial services; education, charity & not-for-profit; and music, media, sport & entertainment.

WE’RE THINKING BIG AND BEING BOLD

Over the past two years, we’ve grown ambitiously. In April 2023, BKL took private equity investment from CBPE. Since then, we’ve completed deals with Landau Baker, accountants specialising in academies; CFPro, commercial finance advisers; and Alan Heywood & Company, accountants specialising in music & media. This April, BKL came together with Wilson Wright, a firm of accountants and tax specialists with a 130-year history in the City of London.

We’re excited by the growing strength of our team and our ability to provide varied clients with even broader advice, deeper knowledge and tailored, scalable support. In other words, to give our clients more.

With a new UK Government, and ongoing upheaval for our communities internationally, we’re in uncertain and challenging times. This means it’s more important than ever for our clients to have trusted, supportive advisers like us – and to continue supporting each other.

AWARDS AND ACHIEVEMENTS

OUR SERVICES

We offer a growing range of consulting services to ambitious businesses, including:

Commercial finance: Guidance for finance teams through transactions and major change

Digital: Strategic IT advice; cybersecurity consulting

Sustainability: ESG consultancy (strategy, risk analysis); compliance (measuring, reporting, B Corp certification)

Corporate governance: Compliance reviews; policy evaluation; senior management support

People: HR processes; mediation; recruitment; talent management

We’re continually developing our key services too. They include:

Business and international tax: Covering our key sectors in great depth; advising many smaller accountancy firms

Business services: Management accounting, outsourcing and payroll – find out more below

Corporate finance: Including M&As, valuations and due diligence

Audit and assurance: Treating audit as a powerful diagnostic and analytical tool rather than a statutory requirement

Private clients, trusts, estates and inheritance planning: Helping high net worth individuals and their families, domiciled in the UK and/or overseas. From wealth preservation to complex tax and dynamic planning, we combine technical expertise and a personal touch

We also help clients with wealth management, mortgages and financing, via our affiliated companies BKL Wealth Management and IPFS.

WHAT SETS US APART?

The traditional view of accountants –only keeping clients compliant – has never appealed to us.

By understanding clients’ personal and business goals, we can help them achieve their ambitions. How we do that hinges on how we set ourselves up to give the best client service possible.

We’ve developed a fresh, supportive approach that connects technology, data and people.

Having the right tech, used in the right way to collect the right data, only gets us partway there. We’re a peopleled business and so is our service. Our specialist advisers analyse that data to show our clients the story of their business and where they could take it.

Clients get the most from us when they’re in regular communication with us. It could be when they’re dreaming up their next big deal or thinking about succession planning. When we’re involved in their decision-making process, we’re able to spot opportunities and stop obstacles from tripping them up.

CONTACT US

marketing@bkl.co.uk bkl.co.uk

Joe Joshi Auctioneer

HAVE YOU TRIED THE AUCTION ROUTE?

For fast results, the best method of sale is to sell by auction. We sell all types of properties throughout London and the UK.

Look at what our clients say...

“It’s always great to work with Auction Property Ltd. Their knowledge and experience within this sector is second to none. The sale of our last joint instruction went through seamlessly thanks to Joe’s proactiveness in agreeing the transaction to exchanging in a matter of hours.”

“Buying at auction can often be difcult with a lack of communication, documents not posted etc. However, Joe Joshi made the process as painless as possible. He did exactly what he said he’d do when he said he’d do it. Joe kept me informed throughout and was a pleasure to deal with.” Contact us

EMPOWERING ENTREPRENEURS. SUPPORTING COMMUNITIES.

Rishi Khosla and Joel Perlman OakNorth co-founders

As the digital bank for entrepreneurs, by entrepreneurs, we’re transforming business growth with:

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Just as we support businesses in achieving their growth goals with tailored solutions, we take pride in the cultural heritage of our founders, reflecting the entrepreneurial spirit and community values of the Asian and Jewish communities.

Visit us at oaknorth.co.uk to learn more

EMPOWERING COMMUNITIES, ENRICHING LIVES

INVEST WITH CITYGATE HOUSING

Investing with CITYGATE offers not only ﬁnancial opportunities but also the chance to make a tangible difference. By partnering with us, you become a part of our mission to transform lives and communities throughout the UK, creating lasting social change while generating returns on your investment. Join us in building a brighter future, one

Empowering Communities

Your capital supports the development of inclusive communities by targeting investments towards underserved and vulnerable groups, fostering economic empowerment, and promoting social integration.

Invest with Citygate

Our government-backed property investment allows you to start with as little as £13.5k, earning returns of 20% APY and a 60% ROI over three years, providing a secure and lucrative opportunity for investors.

We Are Sharia Compliant

Your investment is built on ethical principles, offering a socially impactful approach that combines proﬁt sharing with an interest-free (RIBA-free) structure, ensuring ﬁnancial growth while aligning with values that promote fairness and sustainability.

Buy-to-Let and Bridging Loans from Lendco

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Spector Constant & Williams AJBN Headline Sponsor

We are thrilled to return as a headline sponsor of the Asian Jewish Business Network for the second year. As the only network of its kind in the UK – bringing business leaders from the Asian and Jewish communities together – we have seen first-hand the power of the collaboration and connection that the network brings.

The AJBN is in its fifth year, and has grown significantly in that time. The network’s success proves that promoting business relationships between the Asian and Jewish communities brings huge benefits to all.

DELIVERING GROWTH

The AJBN’s drive for collaboration and connection fits perfectly with our ethos at Spector Constant & Williams. We were also founded in 2019 – the same year as the AJBN was set up – and we’ve seen a lot of growth since then.

Our aim was to build a new generation of law firm, and our focus is on being dynamic, commercially-minded, and going above and beyond for our clients. That strategy is working and we now have a workforce of 65, with 15 partners. All aspects of our business are busy and doing well.

Most recently we have seen expansion in our family law team. The family team provides advice on all aspects of family law, and our head of family Nick Gova is one of the leading advisors on religious divorce in the UK.

We have also added immigration to our portfolio of services within the last year. Our expertise in immigration extends to both individuals and businesses seeking guidance for entering, settling, or establishing a business in the UK.

Our real estate team has had a busy year. We have completed several significant deals in the last eight months, including a big retail acquisition, the acquisition of a hotel in Mayfair and shopping centre deals across the country.

Our litigation and dispute resolution expertise is also highly sought after, and we are acting on several high profile disputes in the pensions, retail and manufacturing sectors.

12 MONTHS OF CHANGE

As we come together at AJBN, it is also important to look outwards and reflect on what is happening in the wider market that may lead to risks or opportunities for each of our businesses.

We’ve got used to change and the need to be adaptable over recent years with the Covid-19 pandemic and geo-political instability around the world. The last 12 months have been no different, with the UK facing rising interest rates and inflation, followed by a change of government, with the Labour Party winning the general election with a significant majority.

The first few months of our new government has seen a commitment to stimulate growth through planning reform, encouraging house building and infrastructure development. Strengthened rights for workers and more rights for tenants are on the agenda too. With the Autumn Statement coming up at the end of October we expect to see changes to tax which may have a big impact for high net-worth individuals.

M&A ACTIVITY

After a period of rising interest rates, we are now seeing interest rates dropping again, which is resulting in increased business confidence in sections of the market. However, some uncertainty remains and the latest provisional M&A statistics from was 385 deals during Quarter 2 (Apr to June) 2024. 78 fewer than during Quarter 1 (Jan to Mar) 2024 (463).

RESIDENTIAL PROPERTY MARKET

The residential property market is showing signs of recovery and industry commentators have reported that they expect sales volumes to pick up towards the end of the year. House prices fell in 2023 but are slowly recovering this year. London Estate Agents expect price growth to average around 1-2%.

The rental market has slowed down due to affordability constraints and we await the impact of the Renters’ Rights Bill, which has just been introduced to parliament. When it becomes law the new bill will introduce stricter regulations on landlords, and could limit rental supply if some landlords decide to sell properties.

Overall, 2024 is shaping up to be a year of cautious recovery for the UK residential property market.

COMMERCIAL PROPERTY MARKET

The commercial property market is showing improving prospects after a

challenging period. 2024 has been a year of recovery. Lower inflation and a reduction in interest rates later in the year is boosting investment activity. There are opportunities in sectors like retail, office space, and industrial properties.

Although hybrid and remote working following the Covid-19 pandemic brought significant change to the office property market. The demand for prime office space is growing.

Rebased rents and higher yields are making parts of the retail property market attractive to investors. The industrial sector, particularly in London, is expected to perform strongly due to high demand for warehouses. This is supported by the growing importance of e-commerce and logistics.

The drive towards sustainability remains a key trend, with a push towards retrofitting existing properties to meet environmental standards, as well as new developments aligning with net-zero goals.

As the market recovers and we see

some stability and optimism return, there are definitely opportunities for astute investors looking for medium to long-term capital growth.

THE POWER OF NETWORKING

Although there is much reason for optimism, there is no doubt that challenges remain for business, and sharing best practice, networking and working together is more important than ever. The AJBN is vital in this process.

My colleagues and I have gained a huge amount from our involvement with the AJBN and we look forward to meeting many more of you at the conference and events over the coming months.

George Constant, Partner george.constant@scwlegal.co.uk

Spector Constant & Williams 4th Floor, 75 Wells Street, London W1T 3QH Telephone +44 (0)20 7269 5120

DX 138877 Mayfair scwlegal.co.uk

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1 hour per month included bank it if unused, borrow against future membership if you need more

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TARGET MARKET - WHY the UK?

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With our solid foundation in Israel and Canada, where we generate over $1M USD annually, we’re eager to bring our expertise to the UK market.

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We offer a range of 1st & 2nd charge bridging loans secured against UK real estate assets this includes residential, commercial and semi-commercial. Each of our products are tailor-made to best fit our clients’ needs, and we put a very strong focus on the speed of execution to allow our clients to seize opportunities in a timely manner.

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We are proud to support the

Asian Jewish Business Network

Lubbock Fine provides a full range of accounting, audit, tax and consultancy services for businesses and individuals.

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