‘I transformed dilapidated Derbyshire courtyard building into £1 million empire’
Sue Illic, 62, turned a run-down Derbyshire courtyard into a thriving property empire, balancing it with her successful salon business.
A Derbyshire woman has transformed a dilapidated courtyard building and turned it into a thriving property empire.
Sue IIlic, from Belper, enjoyed a successful career running her own salon.
Taking a bold step into the property industry saw the dynamic 62-year-old buy a dilapidated courtyard building complex which included multiple commercial units and flats.
She worked to bring the neglected properties up to standard, addressing fire-proofing, updating electrical systems, and dealing with unexpected hurdles like obtaining EPC certificates and managing tenant transitions.
Sue’s determination paid off, and she now enjoys a thriving property business alongside her salon.
She is now director at Prestige Beauty and Hair, director at Courtyard Properties and Holiday Apartments, and owner at Designer Holiday Let Lady.
With less need for daily involvement, Sue enjoys newfound freedom, balancing her time between her businesses, self-care and frequent visits to London to see her daughter.
Reflecting on making the leap into property, Sue said: “I had previously purchased my own first property in my twenties, and then my first commercial property in my thirties when I opened my first salon.
“The landlady of my current salon offered to sell the property to me, she knew I had previously bought and sold properties and I had a good business at the premises.
“At first I was unsure of how I would raise all the funds, and there was a catch.
“It wasn't just the salon for sale, but the whole courtyard which consisted of four commercial units, five flats and a huge cellar.”
All of the buildings were completely run down or empty, but Sue went ahead with the sale as she spotted the ‘massive potential’.
Sue said: “I had transformed the salon's interior and it was always my dream and passion to create and design beautiful interiors.
“The purchase was not simple. I did raise the money for the purchase, but unfortunately the landlady passed away so we had to wait for probate, and then COVID-19 hit.
“The banks were then getting nervous and during lockdown I had to produce my salon’s accounts every three months to show it was still a viable business.”
She remained undaunted by complexities of land registry, EPC certificates and issues with tenants not paying.
Sue added “It was extremely complex as the banks wanted to see good tenants in the commercial units and the flats.
“I had a plan from the minute I made the decision to purchase. I advertised and got all the commercial units rented out to new tenants with businesses ready to go.
“My vision was a little restaurant, coffee shop and five holiday lets.”
From fireproofing the cellar to sorting out electrics to required safety standards, Sue’s hard work on the renovation saw her reap success on what she calls a ‘mammoth task’.
She managed to work on the huge buidling project whilst simultaneously running her own salon.
Reflecting on how her properties changed her life, Sue said: “I get to plan my days to suit me. I do allocate time to oversee the businesses and operations, but am able to do that to suit my lifestyle.
“I can choose what days I work. I can take a day, week or more off at short notice. I love my new freedom. It has really given me the opportunity to have self care which I rarely had before.
“I enjoy exercise and a few beauty treatments myself. My daughter lives in London now so I am able to visit her as often as I wish. We love a good shopping trip and a nice lunch.”
With retirement on the horizon, Sue feels she is not ready to step away from her thriving business.
She said: "I absolutely don't think I could retire just yet.
“I love what I do and still have the passion to teach and help others achieve what I have and beyond.
“The beauty of where I've reached, is that I don’t have to work in the businesses - I can just oversee them.
“The salon runs without me and maybe a staff member will take it over at some point.
“The holiday lets have a well-trained and motivated team in place, so I can oversee this from anywhere in the world, giving me the time and freedom to enjoy my life.”
For more information about Sue’s Courtyard Holiday Apartments click here: courtyardholidayapartments.co.uk