The Story
Fortitudo Property has been a customer of Aprao since 2020. Since then, they have completed over 3300 appraisals using the platform and evaluated opportunities worth over £100 million GDV. Aprao has been instrumental in supporting their growth and diversification from high-quality residential developments to large-scale commercial projects.
The Company
Fortitudo Property has a 35-year history of building stylish, modern, and energy-efficient homes in sought-after locations across the South of England. Known for their luxury developments in areas such as Dorset, Poole, and Bournemouth, the company has expanded into Purpose Built Student Accommodation (PBSA) and commercial projects. Recent developments include 48 self-contained commercial units at Churchill Business Park and 27 units at Artillery 88 on Lufton Trading Estate.
The Challenge
Fortitudo Property needed a solution that would allow them to scale while maintaining financial accuracy and minimising the risk of human error. Their previous appraisal software was rudimentary and relied on manual processes, making it difficult to handle complex developments. Sharing and adapting reports was also cumbersome, leading to challenges in peer reviewing and collaboration.
The Solution
Since adopting Aprao, Fortitudo Property has benefited from the software’s flexibility and customisation options. According to Ethan Brighton, Development Director at Fortitudo Property, Aprao’s ability to adjust cash flows and assess various funding scenarios has been critical, especially in a volatile market. Aprao’s tools, such as sensitivity analysis and cashflow forecasting, have enabled the team to analyse projects with new depth, saving time and increasing financial accuracy.
Brighton highlights how the platform’s team board and templates feature has improved collaboration, allowing multiple users to work on appraisals without overwriting each other’s work. This has also helped maintain strong relationships with lenders by providing high-quality, accurate financial reports.
“Aprao’s ability to adjust cash flows and assess various funding scenarios has been critical, especially in a volatile market.”
Ethan Brighton, Development Director at Fortitudo Property
The Result
Since partnering with Aprao, Fortitudo Property has grown its team to over 15 people and diversified its portfolio, adding industrial and large-scale commercial projects to its core residential developments. The platform has allowed the team to confidently assess the viability of new opportunities and walk away from projects that don’t meet their objectives.
Aprao’s ongoing product development has been a key factor in Fortitudo Property’s success. As their business needs evolved, Aprao adapted, allowing them to manage commercial projects with the same ease as residential ones. This flexibility has enabled Fortitudo Property to work on landmark developments, including a PBSA project in Bournemouth.
About Aprao
Aprao is a cloud-based proptech platform designed for property professionals. It enhances the accuracy, consistency, and efficiency of development appraisals, whether for residential or commercial projects. The software allows users to assess financial viability, calculate residual site value, conduct sensitivity analysis, and generate detailed cash flows, all in a format endorsed by major lenders.
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