Founded in 2000, Atlantis identified an opportunity for a new approach to property. The proposition was one of aggressive acquisition and long-term ownership, rejecting the conventional acceptance of a cyclical buying and selling model.
Through this strategy, Atlantis Holdings – the group's investment arm – has over eleven years built a formidable portfolio throughout the United Kingdom, in the process becoming one of the country's most prolific private landlords. With a working capital in excess of £5.2m, Atlantis Holdings continues to be active in searching out high yield opportunities.
This year, as our domestic investments and trading businesses continue to thrive and expand, we have taken considerable strides to increase our international activity. With our first overseas investments already complete, 2017 promises to be our most exciting year yet.
John Jac SykesFounder and Chairman Read BioClose bio
John Jac is the founder, Chairman and ultimate owner of the Group. An inspirational and visionary leader with an entrepreneurial instinct, John Jac guides and oversees the long-term direction of the group.
Heavily motivated and influenced by his late father and with an underlying passion for property, John Jac’s unique drive for success has led to the continual growth of the Group to where it is today. With the company’s strong foundations behind him John Jac is now looking forward to further expansion based on the same considered principles that have served the Group so well to date.
With the business having expanded on an international scale John Jac is based in The Bahamas. He is a family man and is married to Sally. They have four children Annabelle, Charlie, Jessica and Little John.
Andrew StrongCEO Read BioClose bio
Andrew is Chief Executive Officer of the Group and responsible for the total management and day-to-day running of the individual trading businesses.
Andrew became Managing Director of the group in 2006 and oversaw the acquisition of the company’s commercial division, Chilvers Page. This appointment also led to Andrew taking the reins of the group's estate management division, which has subsequently enjoyed impressive growth. In 2014 Andrew handled the company’s largest acquisition to date.
More recently, Andrew was a member of ARMA’s technical committee, where his technical expertise in property helped members keep up to date with changes in the leasehold management sector.
Andrew lives in Thailand with his wife Anong, and their two children James and Katie.
Koichi NicholasChief Financial Officer Read BioClose bio
Koichi is the Group’s Chief Financial Officer and manages the Group’s finances, planning, record-keeping and reporting.
Since joining the company in 2012, Koichi has been promoted from within to his current position and holds particular expertise in Residential Service Charge Accounting, along with a great depth of experience in representing clients at the First-Tier Tribunal: Property Chamber.
Koichi is a strategic thinker and is ranked among the top 100 chess players in the UK!
Find out more about Atlantis Group's broad expertise. Here you'll ﬁnd detailed information and analysis of both completed and ongoing projects. From our property development activities and our efforts into sustainable and renewable energy, to our new leisure offering; a comprehensive resource for investors and our customers alike.
- Re-development of 8 Brownlow Road
- The Former Post Office Building
- Acquisition & Disposal of Terrace House Portfolio
RE-DEVELOPMENT OF 8 BROWNLOW ROAD, READING
Acquired 2002 for £488k. Estimated value after refurbishment £1.65m. Annual rental income £105,660pax.
Atlantis acquired this building located in a conservation area in 2002. Initially the task was to educate current occupants (some of which were statutory tenants and had lived on site for many years) as many had been breaching their contracts for many years by having rental arrears and were unlawfully occupying communal areas. We resolved these issues amicably and collected arrears in addition to reviewing the rentals.
Once this task was completed the next was to capitalise on the large grounds and to undertake an entire refurbishment of the building, along with an extension to create three new apartments and extending two others. The plan, to create ten luxury apartments within this highly desirable area for rental.
Planning was not easy given it was a conservation area and the local residents were not keen on change. However, the local councillors were supportive of the project and planning was consented when brought to their committee for approval.
Works to the building commenced and the goal was to continue to allow the long term residents to remain within their homes which created added complexity to the project. However, this was overcome by our in house team of builders who worked closely with the Tenants during the project and ensured minimal disruption.
The result, a unique and desirable development with the latest technology including air source heat pumps, energy efficient glazing, high quality insulation and LED lighting. The rental figures now achieved have far surpassed our original expectations and provide a ROI of 10.5%.
The building has now been renamed Annabelle Court after our Chairman's daughter. It is now managed by our estate management team with all properties fully let.
THE FORMER POST OFFICE BUILDING, FRIAR STREET, READING, RG1
Acquired 2012 for £2.2m.
Following the demise of Yates Group Ltd (previous owners of the site), Atlantis acquired this iconic building in late 2012. The sale was handled by administrators and the initial negotiations to put together a deal were challenging.
The building is located a short walk away from our HQ and was of interest to us, given the strong lease terms that were in place with the current occupier. Additionally the building is located in a prime spot within the nightlife district of Reading and as one of the largest pubs in the town is highly desirable to pub/bar operators, especially as late night premises licences are unavailable in the town at present.
Upon investigating the position with the administrators the building was sold, subject to contract, with another investor. However, we were able to persuade the administrators and their agents that we were the stronger buyer and able to complete the transaction without funding or survey.
The administrators accepted our offer under proviso that we were able to exchange contracts for the sale within 14 days. Working closely with our lawyers we were able to complete the contract within eight days.
As freeholders of the site we are now managing the investment which provides a 7.8% ROI. However, the Lease terms are strong with automatic rent increases every year by 2.5%, and with 17 years remaining the total rent payable under the lease exceeds £3.6m.
ACQUISITION & DISPOSAL OF TERRACE HOUSE PORTFOLIO, READING, RG1
Acquired (2011) for £300k and subsequently disposed (2012/13) for £601k.
Atlantis acquired three terrace houses from auction, all let under Statutory Tenancies on low rents in 2011. Upon acquisition there were some rent arrears in place and the properties were all in a dilapidated state.
Through careful negotiation with the Tenants we were able to recover all outstanding arrears and bring the rent accounts under control. Urgent repairs were undertaken to bring the properties back to an acceptable standard.
Thereafter we worked with the Rent Officers from the local Valuation Office and were able to increase the low rent up to market rents which increased revenue by 78%.
As the units did not fit ideally within our portfolio we considered whether to retain or dispose of the units. After receipt of valuations we firmly decided that disposal was the most appropriate option.
Our estate agency arm handled the disposal of the units and they were sold smoothly during the latter part of 2012 / 13 giving a ROI exceeding a little over 100%.
SHOPPING CENTRE REDEVELOPMENT, READING
Acquired 2013 for £3m.
Kings Walk Shopping Centre is located in central Reading and has been unsuccessfully managed during its 23 year history.
The centre’s previous freeholder had acquired the building in 2004 for £5.2m, before extending the centre to add additional units in 2005. Entering into trouble the freeholder’s lender forced the sale of the property and Atlantis acquired the building earlier this year for £3m.
Presently the building provides an annual ROI of 15.7%, however there are a number of vacant units within the centre which are being actively marketed by our commercial arm.
Whilst the current ROI is good, this year the centre will be re-developed to increase footfall and to ensure that the void units become occupied. This will involve new flooring, fixtures, fittings and a new look to the front and rear of the centre.
The centre is currently renowned for its quality independent restaurants located on the first floor and it is planned that the ground floor will also become predominately used for restaurant and bar purposes. Deals have already been made with businesses which will complement the other restaurants within the centre, further increasing the annual ROI to 17.2%.
NATIONAL EXPANSION OF ESTATE AGENTS, UNITED KINGDOM
Atlantis’ rise to success within the estate agency business in Reading is renowned. Starting in 2000 to become the largest agency by 2004 and retaining this position today is unprecedented in today’s competitive environment.
With the ongoing success of the estate management division within our regional offices, this year we are extending the services to be provided by them to include a full estate agency package.
Initially this will extend to our busiest regional offices located in Cambridge, Cardiff and London but an ongoing plan to extend these to our other offices during 2014.
It is expected that these offices will not have the same impact as in 2000, given the increase in competition in this field, nevertheless high targets have been set for the regional staff and their success will be monitored closely by the Board.
CASTLE CRESCENT CONVERSION, READING
Acquired in 2007 for £400,000. Current annual rent £60,120. Annual rent after conversion £108,000.
This building was acquired back in 2007 and comprised of 13 bedsits providing an annual rent of £54,000.
Atlantis has always opted for self-contained units as opposed to units with shared facilities for ease of management. Subsequently a planning application was initiated to extend the building and create nine luxury apartments.
Surprisingly the planners were not keen on the proposal and neither were the local councillors, so it became necessary to escalate the matter to the planning inspectorate. Thankfully they brought some sensible logic to the table and were very happy with the proposal given that it was going to result in fewer households and a quality finished product.
With this task now completed works to the building have begun and completion is expected during mid 2014 as maximum occupancy of the building is planned during the construction project to ensure that the revenue stream from the building is maintained.
On completion the expected value of the building will be £1.6m providing an overall ROI of 12%.
BOYES TURNER SOLICITORS LLP
In the relatively short time we have been acting for the Atlantis Group I have been impressed by their entrepreneurial business model. They are clearly successful and understand the property market as is apparent from Atlantis Holdings Limited’s recent acquisitions of key properties which were made in a very difficult market.
John Evans, Relationship Director
Atlantis has an exemplary record in the way it conducts its financial affairs with the Bank and other external parties and has been doing business with us for over 15 years. Atlantis’ Chairman, Mr Sykes has banked with us for over 25 years.
Gary Parkinson, Partner
GRIFFINS CHARTERED ACCOUNTANTS
We act as Accountants for Atlantis Group Ltd and its wholly owned subsidiaries.
The Atlantis Group of companies has been trading for thirteen years and is one of the leading independent property companies in the South of England.
The Group’s turnover is in excess of £3.4m and its Consolidated Group Balance Sheet shows working capital in excess of £5.2m.
Atlantis Holdings Ltd is the property investment arm of the Group and currently owns investment properties exceeding £19m.
Mr Sykes, the Group’s sole shareholder, has been known to us for many years and is considered totally trustworthy and honorable in his business dealings.
We would have no hesitation in recommending Atlantis Holdings Ltd in connection with the purchase of property or land.
Christopher Duggan LLB ACA
KITE GRIFFIN SOLICITORS
We have acted for Atlantis for many years, over which we have completed numerous property transactions for them. In the course of our dealings with these clients, there has never been a withdrawal by them from a property transaction following acceptance of an offer.
Atlantis Holdings Ltd is considered a substantial and reputable property investment company and Mr Sykes is considered a responsible person of good financial standing.
Christopher Kite, Principal
HASLAMS SURVEYORS LLP
For several years, I have provided professional advice to the Atlantis Group as they have steadily increased the size of their residential and commercial portfolio. The properties they have acquired have been varied and interesting, ranging from individual residential investment properties through to both residential and commercial developments. It has also been a pleasure to deal with such a professional organisation and I look forward to providing them with continued advice in the future.
Conrad Hill, Managing Partner
E J WINTER & SON LLP
We have acted for the Atlantis Group of companies for many years and have found them to be honest, professional and of good standing. Atlantis Holdings Ltd which is the property ownership arm of the business is known as a reputable investment company in the area.
Peter Williams, Partner
Atlantis continues to record impressive year-on-year growth.
Turnover from our last financial year increased by 22%
Profit from our last financial year increased by 76%.
Property assets owned by the Group total £54m.
Other assets increase this total to £57m.
Atlantis recognises the importance of conducting all of our business ethically and responsibly. We are committed to lessening our environmental impact, reducing energy consumption and sourcing responsibly. This benefits our companies, employees and the local economies and ecosystems in which we operate.
We're helping to protect the environment for future generations by improving efficiency across all of our operations. All companies in the group ensure that all materials are recycled, exceeding all current legislative guidelines. We’re proud that this has been part of all of our businesses since our launch back in 2000.
Waste energy is perhaps the biggest environmental issue facing business, and we’ve gone to the greatest lengths to ensure that every single aspect of our business have this at the fore of all they do. Our buildings use energy efficient LED lighting and our HQ returns 20 kWh to the grid each month through our solar panels.
Working towards improving social and environmental standards in our supply chain is a natural extension of our corporate responsibility efforts. Where possible, we only source sustainable materials through a network of ethical suppliers and manufacturers based as close to our sites as possible.
CAREERS WITH ATLANTIS
Our HQ in Reading is home to a team of over 75 people, with other staff operating our regional offices around the country. Our companies are always looking for exceptional talent to join our growing teams. So if you’re looking for career progression that your current role cannot provide, then get in touch and tell us what sets you apart.
Atlantis is an equal opportunities employer. Our organisation’s founding principles are innovation, progression and diversity throughout every service, every department and every company. We are committed to providing a platform for individuals to flourish and develop professionally without fear of discrimination.
Our process is centered on making sure that we get a feel for you as an individual. This means our hiring process is quite fluid, and gives you a chance to shine. Once you’ve been selected for that first stage, you've already impressed us. It's then down to you to demonstrate why you’re ready for the challenges and rewards of working with us.
Within Atlantis we pride ourselves on the identification and development of outstanding talent. If you choose a career with any company in the Atlantis Group, you can expect focussed, job-specific training alongside universally recognised educational courses. We will always work as hard as you to make sure you fulfil both your personal and professional goals.
Atlantis' HQ is located in the heart of Reading, set in the commercial hub of the Thames Valley. If you have a media enquiry, burning question, a big idea, or a business proposal please fill out the form below and tell us a bit more.
23/24 Market Place
Reading RG1 2DE
Tel: 0118 956 8888
Fax: 0118 956 3850
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