Project: Dispossessed

Create a credible commercial foundation for the Croyde Bay acquisition opportunity:

• validate the property opportunity and seller / receiver context;
• build the first defensible profitability and cash-flow model;
• define the future Project Owner, investor structure and governance principles;
• identify and close the most important legal, commercial and operating information gaps;
• prepare an internally consistent investor-foundation document set;
• define PHC Service as a separately contracted governance P&L item;
• maintain clear separation between investment, directory membership and professional service appointment.

By Day 90 the project should be able to answer, with evidence rather than aspiration:

• What exactly is available to acquire, on what likely basis and within what process?
• What is the current property mix, condition and operating capability?
• What rental, occupancy, cost and cash-flow assumptions are supportable?
• What acquisition price range remains commercially viable under downside scenarios?
• What Project Owner / Management Company structure is appropriate?
• How might a principal investor and defined smaller investor positions be structured?
• What material legacy-owner, legal, tax, regulatory, title, compliance or operating issues remain?
• What does the PHC Service cost and deliver for the operating project?

Success also means the Project Information, Framing Questions, Strategic Plan, Manifesto, Business Case, 90-Day Plan and draft PHC Proposal are mutually consistent and suitable as the basis for professional and investor review.

Confirm the current acquisition opportunity and establish the minimum evidence base required for commercial modelling.

Convert the existing PHC material into a controlled due-diligence and information-gap structure.

Identify the specialist advice required before investor propositions can safely be made.

• Asset and transaction baseline: establish the seller / receiver position, property inventory, current management arrangements, known ownership / title information, likely sale route and any timetable that can be verified.
• Operating-data request: identify and seek available rental rates, occupancy, seasonality, operating costs, maintenance history, staffing / management costs, booking performance, utilities, insurance and other property-level data.
• Due-diligence map: create structured requirements covering legal, property, financial, tax, compliance, operational, insurance and legacy-owner matters.
• Evidence control: convert material documents and communications into controlled PHC Evidence linked to Concerns, Actions and Deliverables.
• Professional input plan: identify the legal, corporate, tax, valuation, survey and holiday-rental expertise required, including likely scope and timing.
• Project-document alignment: complete and cross-check the Project Information, Framing Questions, Strategic Plan, Manifesto and Business Case as the development baseline.

• Acquisition Opportunity Baseline v1: verified facts, assumptions and unresolved questions about the asset and sale process.
• Property / Operating Data Register: information held, information requested, source and reliability.
• Due-Diligence and Advice Plan: legal, financial, property, tax, insurance and operating work required.
• Commercial Concerns Register: the material uncertainties capable of invalidating or materially changing the business case.
• Foundation Document Set v1: internally consistent Project Info, Framing Questions, Strategic Plan, Manifesto and Business Case.

• Seller / receiver and acquisition-route position recorded with source and confidence level.
• Property inventory and major information gaps visible in one controlled register.
• Material commercial, legal and operational Concerns have named Actions and owners.
• Required professional reviews identified without pretending PHC replaces specialist advice.
• No investor-facing claim depends solely on an unlabelled assumption.

Build the first decision-grade profitability and cash-flow model and identify the commercial thresholds beyond which the project no longer works.

Define the preferred Project Owner and investor-structure principles sufficiently for professional review.

Test how the legacy-owner position, PHC Service, property operations and independent specialist services fit into the model without creating hidden cross-subsidy or entitlement.

• Financial model: model acquisition cost, property mix, rental prices, seasonality, occupancy, gross revenue, management costs, cleaning, maintenance, utilities, insurance, staffing, compliance, taxes, professional costs, reserves, refurbishment and PHC Service.
• Sensitivity testing: test acquisition-price, occupancy, rental-rate, cost-inflation, capital-expenditure and mobilisation-delay scenarios.
• Capital structure options: model a substantial principal-investor holding plus a fixed number of smaller equity positions, without yet fixing terms prematurely.
• Project Owner design: define likely board, voting, reserved matters, minority protection, related-party controls, distributions, transfer / exit rules and reporting.
• Legacy-owner options: identify commercially and legally testable settlement, recognition or benefit structures without treating any option as promised.
• PHC Service outline: define the governance activities, resource basis and likely P&L treatment to be developed fully in the Proposal.
• Directory principles: define transparent membership and the non-preference rule separating directory, investment and procurement.

• Profitability and Cash-Flow Model v1 with assumptions register and downside sensitivities.
• Commercial Thresholds v1 covering acquisition-price tolerance, minimum capital, reserve / liquidity needs and operating break-even indicators.
• Investment Structure Options Paper for professional review.
• Management Company Governance Outline including conflicts and related-party principles.
• Legacy-Owner Options Paper clearly distinguishing ideas from commitments.
• PHC Service Scope Outline ready to be developed into the formal Proposal.

• The first financial model can show what assumptions drive profit, cash and investor viability.
• Downside cases identify where the project fails rather than merely showing an optimistic base case.
• The intended separation between investor, service provider, directory participant and Project Owner is explicit.
• Management Company governance principles are sufficiently clear for legal / corporate review.
• PHC Service can be identified as a transparent commercial cost rather than an undefined sponsor contribution.

Reach a formal go / revise / stop decision on whether the opportunity is ready for investor engagement.

Prepare the Project Owner and investment proposition for external professional challenge.

Complete the PHC Proposal using the project fundamentals, workstreams, controls and financial assumptions established during the first 60 days.

• Independent challenge: obtain targeted review of the financial model, valuation assumptions, legal / corporate structure, tax position and property-operation assumptions where practical.
• Investor package: prepare concise material covering asset, commercial case, capital structure, governance, risks, legacy-owner context, due diligence and next decision gates.
• Principal-investor strategy: define the proposition for a substantial lead investor separately from the smaller fixed investor positions.
• Management-company engagement: consider whether the current or another experienced operating company can validate operating assumptions, provide data or participate in future operations without receiving automatic investment or service rights.
• PHC Proposal: define recurring governance services, resource / hours basis, reporting, assessments, Evidence and entity maintenance, meeting rhythm and P&L line items.
• Lessons and directory setup: establish the minimum viable free lessons resource and directory rules, while keeping them secondary to the investment proposition.
• Decision gate: document whether to proceed to formal capital raising and transaction preparation, revise the concept, or stop.

• Investor Foundation Pack v1: Project Information, Framing Questions, Strategic Plan, Manifesto, Business Case, 90-Day Plan and PHC Proposal.
• Profitability / Cash-Flow Model v2 reflecting available challenge and updated evidence.
• Investor Proposition Outline distinguishing principal-investor and smaller-slot logic.
• Management Company / Project Owner Governance Pack v1.
• PHC Proposal v1 with transparent recurring P&L items.
• Due-Diligence Status and Residual Concerns Report.
• Go / Revise / Stop Recommendation for the next phase.

• Project leadership can explain the acquisition proposition, economics, structure, uncertainties and next decisions consistently.
• The financial model has traceable sources and labelled assumptions rather than unsupported headline returns.
• Material residual Concerns are visible to prospective investors rather than hidden by the pitch.
• The future Project Owner, PHC role, directory model and service-procurement independence are clearly separated.
• A principal investor can assess what capital is being sought and what remains conditional.
• The project has a documented decision on whether formal investor engagement should proceed.