In this episode of the Scottish Property Podcast, Nick and Steven are joined by Andrew and Chris from Brightstone Property, returning two years after their first appearance to share how they went from flips and serviced accommodation to delivering a 30-unit commercial business centre in Falkirk.
They break down how they financed, developed, and filled the building — including the challenges of a six-figure refurb budget overrun, raising private investor finance through a SAS pension, and how the project has now grown into a profitable commercial asset and full-time business.
Whether you're curious about commercial conversions, raising finance, or building a scalable property business, this episode delivers real talk, numbers, and lessons from two investors who are making it happen.
Episode Highlights
🏢 From Resi Flips to Commercial Conversions
Started with residential flips and serviced accommodation
Decided to pivot to larger commercial deals for scale and shared income
Acquired a 7,500 sq. ft. building in Falkirk for £310K
Transformed it into a 30-unit business centre (Brightstone Spaces)
💰 Funding the Project
Raised finance through a private SAS pension investor
Structured the deal to buy with investor funds and fund the refurb from profits
Managed a refurb budget of £260K (which went £100K over!)
Maintained investor trust through regular updates and repaid on time
🔧 Overcoming Operational Challenges
Refurb included full rewiring, new fire systems, secure entry, and high-spec internet
Filled the ground floor in 12 weeks via a hands-on marketing approach
Achieved 97% occupancy, generating £17K/month gross rent
Refinanced the building at £840K with a 70% LTV
📈 Growth into Property Management
Now managing three additional commercial sites for Liberty Space
Offering management services for other commercial landlords
Building a hybrid business model combining property ownership with operational income
Planning to acquire their next building while scaling their management arm
From modest residential flips to managing over 30 commercial tenants and multiple buildings, Andrew and Chris have completely transformed their business over the past two years. This episode is full of valuable lessons on financing, scaling, and building long-term credibility — all while remaining hands-on, humble, and community-focused.
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