November 18, 2024

The Harsh Reality of Building Million-Pound Homes in St. Andrews with Leigh Connolly

1 hour 4 minutes

In this episode of the Scottish Property Podcast, we sit down with Leigh Connelly, founder of Caraton Group, to discuss his inspiring journey in the property and construction industries. From humble beginnings as a teenager living on a farm to building luxury homes in St Andrews, Leigh shares the highs, lows, and lessons he’s learned along the way. With candid insights into property development, business resilience, and adapting to market changes, this episode is a must-listen for anyone interested in property investment or entrepreneurship.

Episode Highlights:

Humble Beginnings and Early Ventures:

Leigh’s unconventional path to success started with a farming background and an early fascination with machinery and hard work.

How he bought his first property at age 18 and used equity to fuel his initial investments.

Overcoming Setbacks:

Leigh opens up about facing financial challenges during the 2008 crash and how he navigated unexpected obstacles, including a Scottish referendum and changes in property taxation.

The creative strategies he used to keep projects afloat, such as leveraging limited resources and maintaining optimism under pressure.

Building in St Andrews:

Insights into high-end property developments, including million-pound homes in one of Scotland’s most prestigious areas.

The challenges of dealing with rising labour and material costs, and the lessons learned from working with contractors and planners.

The Changing Face of Property Development:

Leigh discusses the increasing difficulties in property development, from planning restrictions to labour shortages.

Why he’s now focusing on consulting, exploring international opportunities in Dubai, and diversifying his investments.

Opportunities in Dubai:

An overview of the booming Dubai property market, offering yields of 8-12% and opportunities to buy off-plan properties with significant profit potential.

Why Leigh believes Dubai’s growth is an attractive alternative to the UK market.

Lessons for New Investors:

Advice on taking calculated risks, learning from setbacks, and finding creative ways to fund projects.

The importance of persistence, adaptability, and leveraging local networks in the property industry.

Visit Carriden Plumbing & Heating and Carriden Developments for renovations and extensions or new builds.

Website: https://carridengroup.co.uk/

Follow Leigh Connolly on LinkedIn: https://uk.linkedin.com/in/leigh-connolly-587233280

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Prime Property Auction: www.instagram.com/primepropertyauctions/

John: www.instagram.com/john_property_auctioneer/

Luis: www.instagram.com/luis_property_auctioneer/

Visit Prime Property Auction website: https://primepropertyauctions.co.uk/

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**DISCLAIMER**Please do your own due diligence on any of our guests you may decide to do business with. We interview in good faith. However, we cannot be held responsible for any credibility issues that may arise.

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By Nick Ponty and Steven Clark

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