Restoring Mansfield’s town centre to offer affordable rental properties and invest in the town

EstateTrader Managing Director Jack Townsend, has over 17 years in the property industry.

Now his determination to see his hometown of Mansfield rise up from the ashes, have made him passionate about restoring, retaining and reusing buildings which have lain derelict for decades.

Not only is he providing new, high-quality, homes, which offer affordable lets to those on low or limited incomes, but he is breathing new life into the town centre, new customers to support the local economy, and new investment into Mansfield.

He has already turned his talents to the grade 2 listed former Dial pub/hotel which is now residential on the upper floors with a wedding shop at street level, also grade 2 listed shops on West Gate developing the upper floors to seven residential units, a commercial to residential conversion of former offices to 30 flats and now he hopes to soon be doing the same to the town’s former college building which has been empty for 15 years.

“There are not many investors who would touch Mansfield,” he admits “It’s not high-end value area and for many the returns would not justify the investment.”

Having his own construction team helps to keep costs down – he’s not having to look at bids and outsource to others – and there’s also personal pride in doing something in his home town.

“I genuinely believe in this town,” he said. “I’m a local man and I love doing up my local town centre. This is not just providing affordable, quality housing, but boosting the local economy.”

Having people living in a town brings it back to life, it means more people to support local enterprises, whether it’s a grocery shop or a hairdressers, a restaurant or bar. It also makes the whole town look better, more loved, and this can create a virtuous cycle attracting more new businesses, more facilities and more people.

Quality and quantity

Some of the properties are apartments but some of Jack’s projects are HMOs – homes of multiple occupation.

A realist, Jack knows Mansfield is not a high-salary area. Many employed people work on or just above minimum wage, while many others have very fixed or limited incomes.

“I have a lot of HMO buildings in Mansfield,” he said. “People want to rent them because they are top notch. They are good stock, they are cheap and there is a housing shortage. These are good homes for blue collar workers.”

What’s the future

Jack hopes to soon be developing the former college – which has been an eyesore with broken windows for over a decade. But education could also be the key to unlocking a brighter future for the town

“There’s been talk of bringing part of the Nottingham Trent University to Mansfield and that would be a great catalyst,” he said. “Mansfield doesn’t have much industry and if something like the NTU coming here happened then it’s going to boost the economy more and people will want to invest money into Mansfield.”

He’d also like to see the rules relaxed on permitted development rights too, so decline can not only be stopped, but progress accelerated.

“When I first started going out in Mansfield in my teens the town was already in decline. But I see that there is a market here and there is opportunity to turn this around. It’s starting to happen now but I can envisage a huge transformation in another decade.”

Lettings and landlords

Jack Townsend and his his colleagues, who have worked in lettings for more than a decade, are also helping others in the industry.

They have expert knowledge in lettings in the local area and can help with specialist advice on the buy-to-let market, property buying and lettings, as well as changes in compliance and regulations for landlords and tenants. To help inform business decisions for landlords, they consider the relevant facts and figures for the local population, unemployment and inflation.

Personal attention for lettings

When EstateTrader recently opened at 2AF, Suite 11 , Brunts Business CENTRE, Samuel Brunts Way, NG18 2AF, they promised to be more than just a voice on the end of the phone.

They specialise in rentals and don’t sell properties, so when a problem needs sorting EstateTrader will visit the property rather than simply booking a contractor and sending the landlord the bill. Their in-house maintenance team can also help to speed up the process.

Find out more

For more information or a no-obligation chat about investing or letting, visit the website here email [email protected] or call 01623 375000.