KEY POINTS
- 0.5 miles walk from university of surrey
- 5 x double bedrooms, all with en-suite shower rooms
- loft conversion and extension potential
- perfect for second year students
- fantastic long term capital appreciation in surrey
OVERVIEW
Amidst the height of COVID-related market uncertainties, we seized a remarkable opportunity. Despite cancelled viewings and a temporarily suspended UK housing index in May 2020, we navigated negotiations to secure the purchase.
Recognising the potential, we dedicated ourselves to intensive work throughout the summer, aligning with the start of the academic year in September 2020. Our efforts paid off as we successfully rented this property to five students, generating a monthly income of £3,500. This strategic move amidst challenging circumstances exemplifies our ability to identify and capitalise on valuable opportunities.
gross development value:
£575,000
purchase price:
£309,000
build costs:
£150,000
professional fees:
£30,000
total project cost:
£489,000
rent roll:
£42,000 PA
profit on gdv:
£86,000
project duration:
3.5 months
DEVELOPMENT
Successfully launched in September 2020, this HMO (House in Multiple Occupation) development, taking only 15 weeks to complete the works, was tailored to meet the housing needs of second-year students at the University of Surrey. This development has been thoughtfully designed to withstand the test of time, requiring minimal maintenance and ensuring long-term durability. Our dedication to delivering on our promises and creating lasting, quality living spaces sets this development apart.