Unlocking the Future of Property Development: Insights from Andrew Murray

In this episode of The Property Funder Podcast, host Michael Dean speaks with Andrew Murray, founder of Morpheus & Co, a company specializing in interior design and property development. The conversation covers a wide range of topics, including the recent change in government, challenges in the property development sector, the importance of skilled labour, and the evolution of Morpheus & Co over the past 30 years. They also touch on personal anecdotes, the impact of AI on the industry, and future aspirations.

Highlights:

Government Change and Its Impact on Property Development

• Michael and Andrew discuss the recent government change, focusing on its potential impact on the property sector. Andrew expresses cautious optimism about the new government's plans to unlock house building and improve planning processes but highlights ongoing challenges like resource shortages and local resistance.

Challenges in the Property Development Sector

• The conversation delves into the bureaucratic hurdles and resource constraints affecting property development. Andrew points out the subjective nature of planning regimes and the need for more efficient and transparent processes to expedite development projects.

The Importance of Skilled Labor

• Andrew emphasizes the critical shortage of skilled labor in the construction industry. He suggests that vocational training and repurposing initiatives could help bridge this gap, sharing his experience with a charity focused on reskilling veterans.

Evolution of Morpheus & Co

• Andrew narrates the evolution of Morpheus & Co from its inception to becoming a prominent name in luxury interior design and property development. He shares anecdotes from his early projects, highlighting the importance of practical experience and customer satisfaction.

The Role of AI in Interior Design

• Michael and Andrew explore the role of AI in the interior design industry. Andrew discusses how AI can assist in administrative tasks and concept visualizations, emphasizing the importance of integrating technology to enhance creativity and efficiency.

Future Aspirations and Industry Trends

• Andrew reflects on his future aspirations, both personally and for Morpheus. He talks about the importance of returning to core values, focusing on high-quality, well-considered projects, and staying true to the company's original ethos.

Paths to success with Sam Castle

In this episode of the Property Funder podcast, Michael Dean sits down with Sam Castle, the co-founder of TRI7, to discuss his unconventional journey from the oil trading floors to the intricacies of property trading and asset management. Sam shares insights into his career transitions, the challenges he faced, and the strategies that have driven TRI7's success. Listeners will gain valuable lessons on entrepreneurship, the importance of mentorship, and navigating the property market in uncertain times.

First Break in Property

Sam recounts his initial career in oil trading, his dissatisfaction with the lifestyle, and the pivotal decision to leave university. Sam talks about how he secured his first job in property through a challenging task. He describes his seven-year tenure at London District, where he gained extensive experience in various property transactions.

Importance of Office Environment

Discussion on the value of being in an office environment for learning and professional growth. Sam emphasizes how overhearing conversations and asking questions were crucial in his early career development.

Raising Capital During a Crisis

Sam shares the journey of raising capital during the pandemic, transitioning from high-net-worth individuals to more strategic partnerships. He discusses his focus around maintaining discipline in deal selection.

Market Insights: Office and Retail

Insights into the current office market, including the impact of ESG requirements and TRI7’s approach to identifying undervalued assets. Discussion on high street retail opportunities and the ongoing challenges.

Advice for Aspiring Entrepreneurs

Reflections on the journey from trading oil to property. Sam offers advice for aspiring property entrepreneurs, emphasising the importance of learning from others, embracing mistakes, and backing oneself.

https://tri7.co.uk/

https://avamorecapital.com/

Surveyor stories with Colin Horton

In this episode of the Property Funder Podcast, Michael Dean is joined by Colin Horton, a seasoned surveyor from Essex and Commercial Director of Project&Co. Colin shares his insights into the world of property valuation, the challenges and opportunities within the industry, and personal anecdotes from his varied career, including his stint on a reality TV show. This episode is packed with practical advice, industry secrets, and a candid look at the life of a property surveyor.

Highlights:

Authenticity in Reality TV

• Colin shares the story of his brief foray into reality TV on Channel Four's "Selling Super Houses." He talks about the casting process, the filming experience in Las Vegas, and the disillusionment with the contrived nature of reality TV. The discussion highlights the stark difference between real-life property dealings and their dramatised TV versions.

Personal Growth and Brand Building

• Colin reflects on how his TV experience helped him grow personally and professionally. He talks about the importance of self-acceptance, the power of personal branding, and his commitment to helping others through his professional journey.

Ethics and Integrity

• Colin and Michael Dean discuss industry ethics within property surveying, and the potential prevalence of conflicts of interest and professional misconduct.

Prop-tech Within Surveying

• Colin and Michael explore the impact of technology on the surveying industry, particularly the rise of Automated Valuation Models (AVMs). They discuss the importance of staying ahead of technological advancements and incorporating data and tech into traditional surveying practices.

Short Lease Arbitrage: An Investment Strategy

• Colin delves into the lucrative yet niche market of short lease properties. He explains the concept, its profitability, and the current uncertainty due to upcoming government reforms. He encourages investors to explore this often overlooked strategy.

https://www.projectsurveyors.co.uk/

https://avamorecapital.com/