Thu 23 Apr 2020 10:47:41
Get to know Mr Lal Sangra, Director of Shonki Bros Estate Agents. We had a series of questions we put forward to the man behind Shonki Bros Estate Agents. Here it goes..........
Where are you born and where did you grow up?
Leicester grew up in Highfields, used to live close to Spinney Hill Park.
Did you always vision you would be in this trade or was it something different?
Yes, always was within the family as my late father started the business in the mid 60’s so it's something that has been second nature to us all.
What made you get into the property industry and how long have you been in it?
Property and especially buying and selling property was within the family from the early years of my childhood, therefore I never really envisaged getting into another industry. Academically I was never really the brightest and always wanted to get into the property field. Luckily, my father built some very strong foundations for me to continue the family business. I have been in the business from the age of 6 as I frequently used to go into the office with my father. In 1985, I opened our current office on Narborough Road and have certainly seen some changes over the years.
What has been one of the biggest challenges being in business?
Over the years there have been many significant challenges, however, in the 30 years I have been in business, Covid-19 has by far been the biggest challenge I have faced. At the moment we are trying to keep business going, working together with all our clients and colleagues to pull together and see us all through to the other side. Aside from this, the interest hike in 2008 was very tough for us as a business and many of our clients.
How has the market changed in the last 5 years?
Property prices have increased significantly over the last 5 years. More and more investors have come into the market which has driven property prices up. The rental market has also increased over the same period given the same increases. Overall, every year there has been an increase which has certainly driven the market in Leicester to an all-time high.
Where do you see yourself and the business in 5 years time?
Hopefully, we can grow an even bigger rental portfolio to handle on behalf of clients, explore the online auctions route further, and in turn generate more instructions for our property auctions which is an important part of our business. Personally having been in the business for a considerable amount of time and nearing retirement age I would like to take a back seat and leave things for the younger generation, whether that becomes a reality is another thing.
What are your thoughts on the following:
Property prices in Leicester
I feel as though property prices at present in Leicester are at there peak. At present, they are very high compared to the rest of the midlands making it a very competitive market.
Best places to invest
In relation to areas, the best place to invest in is the LE3 area which provides you better rental returns. If you are looking more at capital growth I would advise looking towards the outskirts of Leicester.
The rental market in Leicestershire
The rental market in Leicester is very strong. Demand is certainly outstripping supply with the majority of properties on the market being let within days rather than weeks.
The best tip to give someone thinking of selling their property
The most obvious answer to the question would be to make sure the property is well presented, not too much clutter, go in at a reasonable price, and interest will most certainly be generated resulting in a sale.
Where is your favourite place to travel?
My favourite place to travel is by far Spain. The people, the climate, the places are all amazing. Definitely consider retiring there in the future.
What is your greatest achievement?
Becoming a property auctioneer and selling millions of pounds worth of property.
Finally, a fun fact about you that most people do not know.
I really enjoy swimming every morning, doing my 50 lengths, prepares me for my day ahead.
We hope you enjoyed this read. Have a look at our website to get further information on buying, selling, and lettings. CLICK HERE.