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In this week’s episode of ILA On Air, Anastasia sat down with Victoria Tsoy, a property developer working across a wide range of projects, to talk about scaling beyond the point where many developers plateau.
Rather than focusing on theory, the conversation explored real experiences. From starting with very limited resources to managing multiple complex developments, Victoria shared what it actually takes to grow in property today.
For many developers, the challenge is not getting started.
It is knowing how to move beyond what already feels comfortable.
Below are some of the reflections Anastasia took from the discussion.
One of the clearest themes to come out of the conversation was that developers often plateau not because they lack opportunity, but because they find a strategy that works and stay within it.
Whether it is HMOs, small refurbishments or extensions, repeating a familiar model feels efficient. The risks are known. The process is understood.
However, as costs rise and market conditions change, those same strategies can begin to deliver less return.
Victoria highlighted that comfort can quietly become a limitation. What once created growth can eventually prevent it.
Victoria’s own journey reflected a pattern of gradual expansion into more complex projects.
Starting with smaller refurbishments, then moving into extensions, followed by new builds, and now larger developments and commercial conversions.
Each stage introduced new challenges.
Unexpected build issues
Planning complications
Rising costs
But those challenges were also where the opportunity for growth came from.
What stood out was that scaling was not about one major leap. It was about consistently taking the next step beyond what felt familiar.
Another key insight from the conversation was that bigger does not always mean better.
Victoria compared ground-up developments with one of her current projects involving the conversion of an office building into an apart hotel.
While the expected profit on both types of projects was similar, the level of effort, time and complexity involved was very different.
This highlighted an important point for developers.
Growth is not only about increasing the size of projects. It is about understanding where time, risk and return are most aligned.
One of the most valuable parts of the discussion came from Victoria sharing a project that did not go as planned.
On paper, the deal worked.
But something did not feel right.
That instinct was ignored, and the result was a challenging exit and financial loss.
The takeaway here was not about avoiding mistakes entirely.
It was about recognising that experience is built not only through numbers, but through judgment developed over time.
In some cases, instinct can be just as important as analysis.
Scaling a property business is not just about finding better deals.
It is also about building the right team around you.
Victoria spoke about the importance of her builder, her professional network and the shift towards bringing more functions in-house.
What stood out was how she approached those relationships.
Not as external services.
But as part of the business itself.
When people are invested in the outcome, the quality of work and commitment can change significantly.
For developers looking to grow, this becomes increasingly important. Progress is rarely achieved alone.
Funding is often one of the most discussed topics in property development.
Victoria offered a perspective that challenges some of the common narratives.
Rather than focusing on raising external capital from the beginning, she prioritised building her own track record first.
By completing projects using her own resources and documenting that journey, she gradually built credibility.
Over time, opportunities to access funding followed naturally.
The key point was clear.
Track record creates trust.
And trust is what attracts capital.
Another theme that emerged was the role of visibility.
Victoria did not start by positioning herself as an expert. Instead, she documented her journey.
Sharing projects
Showing challenges
Being transparent about the process
Over time, this built familiarity and trust within her network.
Opportunities, including funding, began to come to her rather than being actively pursued.
This reinforced an idea that has come up across multiple episodes of ILA On Air.
Visibility is not about promotion. It is about consistency and transparency.
This episode was not about presenting a single strategy for success.
Instead, it highlighted a pattern that applies across the property industry.
Growth often requires stepping beyond what feels comfortable, supported by the right people and grounded in real experience.
For Anastasia, the biggest reflection was simple.
Doing more of the same can maintain progress, but doing something new is often what creates it.
This article is based on the latest episode of ILA On Air, where Anastasia speaks with Victoria Tsoy about scaling property development, building teams and navigating growth in a changing market.
Listen to the full episode HERE!
If you are working within property, development or finance and are looking to grow beyond your current stage, the full conversation offers practical insights from real experience.
Making the complicated simple.
This is not advice from iLA. It is simply a helpful summary of conversations shared on ILA On Air, our educational podcast for the property finance community, making the complicated simple.
