Introducing Hannah Aykroyd, Founder of Aykroyd & Co, Residential Property Advisory Firm
Hannah Aykroyd, founder of Aykroyd & Co.
Meet Hannah, founder of Aykroyd & Co, a leading Prime Central London focused property advisory firm. Join us as she shares her ambitions, inspiration and how she juggles motherhood and management of a fast-growing business.
Launched in Spring 2018, Aykroyd & Co is committed to achieving the best outcome for their clients and are passionate about offering a truly personal service, with the utmost discretion.
Hannah and the team act as their clients’ trusted Property Advisor when looking to purchase a property. The team also act for clients looking for a long term rental, as well as offering more strategic advice on building out diverse investment portfolios.
They take great pride in being honest, transparent, and constantly strive to exceed their clients’ expectations.
Website: Aykroyd & Co | INSTAGRAM: @aykroydcoproperty
“Aykroyd & Co is an independent, boutique residential property advisory firm focused solely on protecting the buyer’s interests. I launched Aykroyd & Co in Spring 2018 and completed more than £60 million in PCL residential transactions in our inaugural year. We are now one of the largest buying firms focused on the residential Central London market, and ranked in the Top 10 across Britain by industry influencer PrimeResi.”
What inspired you to set up your own property advisory firm in London?
I was previously a Director of a leading advisory firm, VanHan, until our MDs were poached by Knight Frank to set up the Private Office. I had just a few weeks in which to make a decision as to whether I should set up my own firm, and I have honestly never looked back. I felt there was a gap in the market for a fully independent, boutique advisory firm which solely focused on the buy side, thereby ensuring we are never conflicted.
What services do you provide for your clients?
Aykroyd & Co provides three services for our clients. Our main focus is search and acquisitions, often sourcing properties under the radar using our vast network and long-standing reputation. Aykroyd & Co also acts for select clients with rental searches. We can access ‘best in class’ rental properties thanks to our established contacts within this sector. We also offer a full advisory service to include building out a diverse or targeted portfolio to achieve certain goals in line with a clear strategy. We also act as client representative where a client wishes to carefully dispose of an asset, whilst being fully removed from the sales process. We oversee every element, from appointing the most appropriate sales teams, to negotiating offers and managing the conveyancing process.
Ultimately, we are always striving to save our clients time and money whilst protecting their privacy.
Who are your typical clients?
We predominantly represent private clients who are entrepreneurs, successful professionals, those who are well known, and also a handful of select investors. Of these clients, c. 60% are based in London, and the majority are looking for large family houses in the very best roads.
Aykroyd & Co directors (L-R: Chloe Leefe, Hannah Aykroyd, Edward Towers, Sophie Bonsor)
How have you adapted your business model in response to Covid-19 and lockdown?
Working in the property industry, we count ourselves lucky as many other sectors have had a much tougher time. The prime and super prime property market in Central London has been extremely busy throughout, so nothing has really changed.
What do you see as the current key themes within PCL residential property?
We are experiencing severe stock levels for family houses with large gardens or backing onto communal gardens in areas such as Notting Hill or Holland Park, with us often sourcing properties quietly off-market and having to engage in highly competitive bidding situations. Strong prices are being achieved, and we’re now in line and perhaps a little above the latest peak of 2014.
Conversely, the one or two bedroom flat market with no outside space has seen a decline in values, with fewer buyers, however we predict more appetite for these pied-a-terres for those who have made that exit to the country during the pandemic.
What are your most valuable business resources?
Having an excellent team I can rely on is crucial to the success of the business. We are a tight-knit team who work cohesively together and are genuinely proud of delivering the highest standards for our clients.
This allows me to delegate wherever possible so I can focus on the strategy and managing the business, whilst also looking after my own clients.
I now also have an external consultant who is an excellent sounding board, and I am in the process of bringing on a non-exec Director.
Have you faced any challenges as a woman in business? If so, how have you dealt with them?
In a professional sense I can’t say that I have, but from a personal perspective, I’ve had 2 little boys in the time I’ve had my business so it’s a constant juggling act with limited downtime. Having full time reliable childcare is crucial in allowing me to work full time.
The Aykroyd & Co team
What are your 5 go-to tips for running your business?
Work out the value of your time
Is the task in hand worth your time? If not, hire someone to support you, even if it’s a remote PA to support you on an ad hoc basis at the outset.
2. Be ruthlessly efficient about your time
When you’re first starting or if you’re in a particularly busy period only take meetings which you feel strongly will benefit you. Anyone else, push back, otherwise you will feel quickly out of control. You need time at your desk, to create headspace.
3. Trust your gut instinct and be decisive.
4. Put your out of office on when you’re taking time out.
This will help to create boundaries, ease anxieties and give you breathing space. This may seem simple but I rarely did this until recently, and it makes a huge difference.
5. Have an outlet.
I play tennis 3-5 times per week and I’m a much better person for it, which my husband will testify to!
What do you wish you had known before you started?
How much more work it is running a business than being an employee. I never switch off, ever. But despite this, I get so much fulfilment from growing the team and building the brand and I really enjoy advising clients and friends on property matters.
W E A L T H
How do you define wealth?
A certain level of wealth provides enough security to empower you to take bigger decisions, such as investing in starting up your own business.
What is the best financial decision you have ever made (business or personal)?
Setting up my business.
What did you learn about finance and money when you were growing up?
My parents taught me to respect the value of money, and that sadly it didn’t grow on trees, but that you needed to get out there and work hard to earn it. This has definitely stuck with me.
What tools do you use to manage your personal finances?
I also refurbish properties and so a lot is invested in that, but otherwise I let my husband manage our finances as he’s an investor.
Which area of finance do you wish you knew more about?
I heard once, if you’re in unchartered territory get yourself a good guide. And I acknowledge that finance isn’t my area of expertise, so I would be looking to you for that.
What’s your guilty pleasure purchase?
Buying an extraordinary sapphire and diamond ring from Gray’s Antiques when lockdown lifted. It was a push present to myself for my boys, and to also remember one of my closest friends that I sadly lost. I have mixed emotions when I wear it but it means so much, and it is empowering to be able to invest in a statement piece for myself.
What’s your money secret?
For my personal finances, I don’t use credit cards as I like to keep a firm eye on the current accounts. And with regard to the business I like to have 6 months cashflow to ensure we can navigate any storm.
What does a typical ‘day in the life’ look like for you?
The day starts with a bang with trying to not only get myself looking vaguely presentable, but the boys also dressed and fed so I can leave the house at 8am when our nanny arrives. I often have a work breakfast as I find this is a really efficient and informal way to catch up with key contacts.
I am often then previewing properties on behalf of clients, ahead of showing them say the very best 3-4 to match their brief, saving them huge amounts of time.
We regularly have working lunches with planning specialists, stamp duty experts, valuation surveyors etc who will provide us with their latest insights, which helps us to better advise our clients. Otherwise I’m handling client matters and helping the team.
Often I will have a Zoom scheduled with a potential client, which is often our first meeting in this new world. This has been a welcome improved way of working, as it is so much more efficient for our time strapped clients.
And lastly, our job is surprisingly heavy on report writing as we are constantly providing detailed data analysis and breakdowns of houses on certain streets to help educate our clients and most importantly, to give them the confidence to proceed with an offer on a property we have identified for them.
Aykroyd & Co directors
Who is your role model?
The Queen.
What are your top tips for staying grounded?
Looking after my two boys – their wonderful innocence and joy in the simplest things was the most special gift in what was a tough time.
What’s next for you?
We’re currently in the Top 10 across the UK, and so my aim is to get us into the Top 5.
What are you currently reading and listening to?
I’m reading The Shadow Sister by Lucinda Riley, which is part of the Seven Sisters series and the perfect escapism. And I’m listening a lot to Birdy, who I’ve rediscovered and loving.
Top Instagram accounts to follow?
Well, obviously Aykroyd & Co!
But Conde Nast Property is excellent, as well as Russell Simpson.
For a bit of much needed humour, Jerry of the Day is a must.