Anstee Development LLP

The principal activity of the company during the year was property development and letting. The LLP continued to trade during the year with the letting, maintenance and refurbishment of the property located at 19 St Christopher Road, Haslemere Surrey GU27 1DQ and working with Cicuma Properties Limited, a related Company , to look for new opportunities. It was able to assist Cicuma Properties with refurbishment of a property in West Chiltington, West Sussex. In September 2022 the property at 19 St Christopher’s Road, Haslemere, suffered damage due to flooding. The flood was caused by a blocked culvert installed by The Environment Agency and maintained by Waverley Borough Council. Unfortunately this had not been regularly inspected and as a result of very heavy rainfall, several blockages caused by silt and debris built up in the culvert which became overwhelmed and flooded the properties nearby. The partnership was insured for both flood damage and loss of rent, so has been able to continue to trade. Work on the restoration of the property completed in 2024 and it was relet on a short term basis with a view of selling or reletting depending on the property market. The property continues to attract rental interest but economic and stamp duty changes have meant that the demand to purchase has diminished considerably. The partners will therefore continue to let the property until a sale becomes attainable. The loss for the year of £11,826 (2024 profit of £3,746) arises as a result of the high cost of borrowing not covered by the rental income on the St. Christopher's Road property less the costs incurred in its completion and maintenance costs. Fees were waived by Cicuma Properties Limited , a Company owned by Mr J Anstee for oversight and management of the property.