Malcolm Myers’ prolific business career has spanned the worlds of rally driving, clothing and property.
His latest venture, Leeds-based MSM Properties, could be on the brink of taking over a lettings business, after enjoying strong growth during a period of turmoil. MSM was established in 2007, just before the crisis caused by the collapse of Lehman Brothers.
The business, which recently moved to a new HQ in Tunstall Road, Beeston, has grown through referrals and recommendations. Mr Myers offers a “hands on approach” that enables clients to sit back and let MSM deal with the day-to-day running of the property. Mr Myers will, for example, check tenants’ references and collect rents. MSM has established a refurbishment service, and, in 2015, Mr Myers plans to hold a series of seminars for “accidental” landlords, who may have inherited a property, and other people who are planning to enter the lettings business, but need advice about new legislation and other hurdles.
MSM is also helping to manage apartment blocks in Halifax and Bradford. It works with between 80 and 90 landlords, including a number who live in Ireland, but have properties in the North of England. Altogether, the company manages around 250 properties.
Yesterday, Mr Myers warned that a premature rise in interest rates could push the UK economy back into recession.
He added: “I strongly feel interest rates should not go up yet, as the economy has only just started to turn. It is obvious that people are still struggling. It appears interest rates will slowly go up, and more and more people will be looking to rent rather than buy. We are negotiating taking over a lettings business. This will increase our business and help our expansion plans in 2015.”
Mr Myers’s family owned Sydney Green (Leeds), a clothing business that employed 100 people during its heyday in the 1970s.
Mr Myers developed a passion for motor sport, and went on to compete in the Lombard RAC rally. He still finds “thinking time” while driving a classic car.