The client gave us the brief to find and negotiate the purchase on their behalf of property in Emneth that required renovation and that would return a suitable profit. This project was acquired by our client.
The internal layout was reconfigured, the kitchen was enlarged, the conservatory demolished and a timber frame structure was built in its place. An additional bathroom was added, a utility was put in place and a further 2 bedroom were added to the property by way of a loft conversion. Liaising with structural engineers, building regs and the planning department. There was a large timber frame building on the property, this was converted into a triple garage with a garden room and attic storage.
A formal hard landscaped area was laid abutting the garden room which benefitted from electrics and heating.
Purchased June 2015 £131,000, costs to bring to point of sale £60,622.89
Sold June 2019 £250,000 rental income £33,600.
Pre tax profit £91,977 48% return over 4 years and 1 month. Inc all planning fees, council tax and borrowing.
