Author: Stevie Scott

This property was purchased on the open market pre-covid for £128,000. The sale stalled due to the first lockdown. During Renegotiations when the market opened again in July 2020 the price was reduced to the final purchase price.

There were many options with this project to put back into 2 properties. But decided with planning timeframes we would go for easier option apply for building warrant and creatively add value to existent property. 

Stripped property back to bare brick and floors. Changed layout of individual kitchen and living room into an atrium style kitchen and living area

Structural steelwork was added to allow the drastic layout changes. The garden was also completely landscaped and made very modern and spacious.

We advertised the property on social media and chose to allow the buyer to pick their own finished specifications. Along with their own choices we spent extra on herringbone flooring and Porcelanosa tiles for all the bathrooms. The sale went through in January 2021. 

Sold: £262,500

This property is 2 Bedroom First Floor Flat. It was in need of modernization. 

The flat was initially put on the market back in March 2019 with a home report value of £120,000. It was secured for 30% below market value. 

It was sold to an investor client for a fee and the renovation project was managed for the client who wasn’t local giving a hands-off experience.

Sale price: £150,000

The total profit for the client was: £34,957

Purchase price: £52,000.

Renovation: £20,000

This property was purchased on the open market. It was owned within a company and the seller was looking to downsize their portfolio. A further discount was negotiated due to communal roof repairs issues and pointing being required. During conveyancing car parking spaces were discovered behind the property which added value.

The layout was creatively changed from a 1 to 2-bedroom flat. A building warrant was submitted.

The communal issues that directly affected our property were repaired. A full cosmetic renovation was carried out along with a full rewire, new heating system, new kitchen and shower room installed.

Exit – Refinanced on a 70% BTL mortgage

New valuation £135,000