Thursday, 17 September 2015

Letting the beauty go.

I don't want to jinx things, but....  

Happy to announce that a very acceptable offer has been received.... Rejected, increased, still rejected... Increased again and finally accepted.

If all goes to plan, within a couple of week a 50% profit on investment will be crystallized. That's over a 18 months timeframe, so pretty decent when keeping in mind the market grew only 5% or so over the period.

Also to mention is the fact that the sale is for a shell and planning permission only. So the entire phase two of the works is still to be carried out by the purchaser.

Question arising: is it the right time to exit and should one not have carried out the complete project to lock in maximum profits?!

Answer is: not sure! I do actually believe that there is still potentially another 150k at least in the project if carried through to completion ....and since there is currently nothing lined up to reinvest it would be tempting.

But somehow as with any gambling, one should know when to exit the casino.

So purely from an investment perspective it's the safe option, and given that all the eggs are in one basket (and there another investor involved): it feels like the right thing to do.

However from an architects perspective it's like giving a newborn baby for adoption!

Now I know many might say that I should just cash in and be happy....
But I can't help being a "senti" (shortcut my wife uses for "sentimental"). I have gone through the spaces so many times in my head, thought about finishes, details, viewpoints, light angles.... And and and...

Creatively speaking one could argue it's the equivalent of seeing a beautifull girl go off with another guy after a flirtatious night out with her! (Could take the analogy further and make it more graphic but...)

Having to learn to let go... And go hunting again I guess.