Warren Lewis caught up with Mish Liyanage, MD and CEO of The Mistoria Group.
It’s been a much more positive year for UK property, with house prices increasing and the market on the move. Whilst activity levels rise, the Mistoria Group is rising too.
Specialising in the high yielding student and professional accommodation market, the Company incorporates: Mistoria Investments, Mistoria Lettings, Mistoria Renovations, Furnishing & Maintenance, Mistoria Estate Agency, Mistoria Surveys, Mistoria International and MCC Accountants; a selection of bespoke companies dedicated to servicing every possible client need in all areas of property investment, providing a comprehensive ‘turnkey’ property solution from property sourcing right up to taxation.
It’s fair to say, Mish Liyanage is a busy man.
“I’m on the go pretty much 24/7 and my head never really switches off. There are rarely two working days that are the same and the job can be very pressured.” he says. “Some do worry about the pace at which I work but I stay fit and healthy. I try to go to the gym at least twice a week and play tennis, golf and swim during the weekends and make it a point to spend time with my family.
I tend to be extremely hands-on and ambitious and will always give 100%. At the moment, I feel I am the best person with my accounting background to drive the Mistoria Group forward in its growth phase, but in the next 12-24 months depending on performance, commitment and loyalty, I aim to appoint capable directors/CEO’s to run the lettings and estate agency side, accounts (MCC Accountants), RFM (Renovations, Furnishing and Maintenance) and Building consultancy, and the project management side.
Leadership is all about finding the right people whom you can trust and when the time is right, you need to delegate and look at scaling up your business by building replicable infrastructure in any UK key city when there is an opportunity and a demand for properties.”
1. When did you set up the Mistoria Group?
2. What does the Group offer landlords and property investors?
A one-stop solution from sourcing student accommodation to conveyancing, project management, renovations, furnishing, lettings, maintenance, accountancy and taxation. We offer all our investors a minimum 8% cash rental yield from day one, on completion of our armchair deals.
3. What makes you different from competitors?
Mistoria Group offers high quality refurbishments with 12 months warranty for all works with 100% occupancy all new properties. All our operations team are in-house and we have qualified professionals with vast industry experience. What’s more, our properties are giving a 8-12% cash yield.
4. Why should investors consider student property?
There is exceptionally high occupancy close to universities, due to an established and growing market. Student property generates almost three times the rental income than a buy-to-let, hence it is a high yielding asset. The properties are inspected at least once every three months and are well maintained.
5. What do you love and hate about the buy-to-let market?
Love the ability to generate a passive income, which generates a higher yield than pensions, stock and shares. Property is a secure form of asset as you can touch and see it and it is remortgagable and saleable.
Hate – Renovations, license requirements, potential rent arrears, tenants deposits, rent arrears, voids.
6. How do you think the property market will perform over the next 12 months?
In the North west, property values will continue rising as more mortgage products are offered. We will see a growth in overseas investors, pensioners and buy-to-let investors moving their investment from the South to the North, as they recognise the potential return on investment opportunities.
Interview from The Property Reporter