Meet the client: Alex Michelin, Valouran – ADC

Can you tell us about Valouran?

I founded Valouran with my former-CFO at Finchatton, Matthew Robertson. Two decades after establishing Finchatton and delivering incredible residential schemes across London, I felt it was time for a new chapter. With a founding team that have more than 40 years of experience, Valouran acquire, design and develop assets that push the boundaries of architecture and leave a legacy of world-class design.

The name Valouran is derived from the word valour, which means ‘strength of mind and spirit; courage’. This concept serves as a fundamental foundation for the company and its culture – having the strength to deal with all the challenges of developing with courage and honour. Matthew and I are veterans in prime residential development and we know it takes a lot of resilience and strength to see these projects through to a successful conclusion. We work closely with local planning authorities to create meaningful and considered projects that are simultaneously sensitive to the environment. We want our schemes to be design led and positively contribute to the urban landscape. We will continue in this vein with an even greater emphasis on sustainability and placemaking.

It must be noted that I remain a founding partner of Finchatton and feel very proud of the incredible portfolio that we have built. Twenty Grosvenor Square and The Whiteley are two of the most successful schemes in London. Valouran is simply my new venture.

What is the company’s USP and what type of work are you undertaking?

At the core of Valouran is a commitment to quality. Once we have the right location, we choose to only work with the best of the best in every part of the development. This spans right across our business and our team are all experts in their field. We select world-leading architects and specialist artisans and contractors to create our projects. Function and form are vital to creating homes people thrive in.

We design exterior architecture that speaks sympathetically to the property’s location and history, and we ensure that the interior and exterior marry up seamlessly. Valouran is already underway on several prime London schemes, from a residential development in Knightsbridge on a premier garden square, to a large mixed-use development in Notting Hill, along with a project in Hampstead with a GDV of £200m, and a collection of apartments in St John’s Wood. We are currently seeking acquisitions in Mayfair and multiple other key prime markets worldwide.

What is your design vision?

Our vision for Valouran is to be a pioneering developer and placemaker, combining our passion for design and deep financial expertise with our extensive knowledge of the residential market. Using this rare combination of skills, we will deliver best-in-class, sustainable residential developments in the most desirable locations. Driven by this pursuit for excellence, we will create buildings of timeless elegance; beautiful homes which enhance the surrounding natural environment and that people will want to live in for a lifetime.

How do you generate value?

Our approach to creating assets goes beyond generating value; we strive to curate spaces that are not only unique but also heritage-led and authentically reflective of their location. We collaborate with the best architects globally to ensure that each project enhances the surrounding environment, standing out for their exceptional design. We use the most sustainable construction methods and materials to ensure our schemes are as sustainable as possible. We want to create buildings that improve the quality of life for those who live in them.

We recognise real estate’s critical role in global carbon emissions and we actively ensure that the way we develop our projects is environmentally friendly, adding value through our commitment to initiatives, such as urban greening and improving streetscapes. We believe fulfilling our ESG obligations is vital, not only in terms of our responsibility to future generations, but also to the success of our investment strategy.

Our approach creates market-leading returns from outstanding residential products in prime locations. This specialism allows us to generate a premium on our sales, which yields superior returns for our partners and investors.”

What are main challenges facing the residential sector today?

Without question, the main challenge facing the residential sector today is planning. Central government have cut funding to planning departments so much over the past decade that they are completely understaffed and without the necessary equipment or technology to effectively manage the number of planning applications they receive. It has reached a critical point. A recent report confirmed that only 19 per cent of planning allocations submitted are being processed in the statutory agreed timeframe. It can take a year for a very straightforward application to be heard and this is strangling the UK economy and creating a massive housing shortage. Something needs to be done urgently.

How important is sustainability and what are you doing to improve the environmental performance of your projects?

There has been a huge increase in awareness and appetite for sustainable homes with a significantly reduced environmental footprint. 25 years ago, when I started, clients occasionally mentioned sustainability but it was not a large concern. Today it is very much at the top of their agenda in terms of trying to reduce their environmental footprint and live in an eco-conscious way which does not harm the planet.

Is retrofit part of your overall strategy, and if so, are there any projects you are currently working on?

A large portion of our development is carried out in central London, most of which is designated as Conservation Areas. As such, we are not able to demolish most of the buildings we develop and have therefore become masters of retrofitting existing buildings to bring them up to modern standards ­– all while trying to minimise our carbon footprint.

We are currently working on several projects which fit these criteria, including a wonderful former chapel in St John’s Wood which is being converted into five amazing apartments with wonderful volume and light. We are also refitting a house in Cadogan Square which had fallen into total disrepair, and it is wonderful to see a house with such amazing architecture and history being brought back to life with the latest modern technologies.

In many ways, retrofitting an older property provides the best of both worlds as you benefit from the wonderful architecture on the outside yet can incorporate all the latest building regulations, technologies and environmental standards inside, giving the building a new lease of life.

How do you go about selecting architects to work with?

Exceptional architecture is central to every Valouran project. Whether reimagining a heritage building or creating a modernist masterpiece, the team are always striving to design buildings which will become listed buildings of the future. Valouran’s vision is to create remarkable residential-led developments that prioritise world-class architecture and design.

What is the one thing an architect could say or do that would make you disinclined to work with them?

A very good question! I think for me what is vital is the architect that we work with has a passion and enthusiasm for creating something magnificent that will stand the test of time. We love an architect to come with passion, energy and a huge amount of creativity. A firm that is constantly trying to push the envelope and do something unique and special. Those are the architects who create listed buildings of the future and those are the architects who create buildings which make peoples’ lives better, and that align perfectly with our vision also.

What projects do you have in the pipeline and who are you working with?

One of our latest projects is the redevelopment of an old house on Bishop’s Avenue into a magnificent collection of apartment buildings all set in two and a half acres of beautiful gardens. We are working with Pilbrow & Partners on this one – Fred Pilbrow and his team have been a joy to work with. The passion and enthusiasm that Fred brings to every meeting is infectious and I think the scheme will break all price records when it is delivered in a few years’ time, as the quality of spaces we are producing is remarkable. The spaces are coupled with exceptional amenities, outdoor space, parking, a pool and a state-of-the-art gym which will make it highly popular with residents.

This is just one of the many projects we are working on and we always try to use the very best architects in the world today. I am often amazed by the creativity and brilliance of some of the young architects making a name for themselves and it is a profession I hold in the absolute highest regard for the positive impact it has on society and to the places we eat, work and live in.