Gross area: 2,550sqft
Through a targeted investment of just £20k to upgrade the studio flat and issue separate leases for the three existing flats, we boosted the value by 67% to £585k in just three months.
And with a subsequent investment of £113k, we upgraded the two remaining flats and more than tripled their rents – even allowing for discounting rents for pre-lets and advanced payments. In the process we increased the value to £800k. We will seek consent to build an additional flat on the rear of the site in due course.
Through efficient staged refinancing with bridging and commercial lenders we minimised the equity required throughout.
Gross Area: 687 sq ft of residential space
The property was purchased in September 2012 for £235,000.00 as a terraced house with two unconsented flats.
A comprehensive refurbishment of the ground floor flat (335ft2) was carried out at the end of 2014 and the flat is now under offer at £275,000.00.
The first floor flat (352ft2) is on the market for £205,000 and is expected to sell for £200,000.00.
Gross Area: 650sqft/60sqm of residential space
We converted a damp old 2 bedroom flat into a luxurious 3 bedroom apartment.
In 12 weeks we completed a comprehensive refurbishment including replacing the roof, drainage system, internals, kitchen, bathroom and furnishing throughout.
We also fully let the within a week of project completion.