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Landlord Advice

Renovation Property for Sale

August 7, 2019

Are you looking for a property with potential? Or a renovation property for sale?

Property renovation is hugely popular in Britain. Thousands of homebuyers are searching for ‘fixer upper’ properties, so that their money stretches as far as possible and they end up with the home of their dreams.

Investors or those sitting on savings are also keen to invest in renovation property, that once ‘fixed up’ can generate healthy rental income or capital growth.

With that in mind, we’ve compiled a list of fantastic renovation projects for sale in London to suit all budgets. We’ve also included the potential sale or rental prices after the works are completed, to give you an idea of how much you’d stand to make.

If you’re interested in one of the properties featured, or if you’d like us to help you with your search or get an instant online property valuation, give us a call.

1. A lucrative renovation project

3 bedrooms, 1 bathroom, Horn Lane, Woodford, IG8

£475,000 (Freehold)

Potential sale price post work: £585,000

Potential rental price post work: £1,800 pcm

horn lane

Woodford is in serious demand with home hunters looking for space for their money - and this spacious property is a real bargain, within close proximity of Broadway and the Woodford Central Line station.

The 3-bedroom home already has bags of potential, but it needs a full cosmetic overhaul, which would increase the property's value and saleability. It is also primed for redevelopment, offering a range of development potential (STPP), with the option to extend the rear and loft to create an extra bedroom. That being said, it has double glazing throughout and a brand-new heating system.

If extended and modernised, the property could achieve a sale price of £585,000; interestingly, a property on a nearby street did exactly this and sold for £585,000 in 2019.

View property details.

2. A property with the potential to add two extra bedrooms

4 bedrooms, 2 bathrooms, Stradbroke Grove, Redbridge, IG5

£650,000 (Freehold)

Potential sale price post work: £800,000

Potential rental price post work: £3,000 pcm

stadbroke grove

Located on one of Clayhall’s most sought-after roads in Redbridge, this spacious four-bedroom house has brilliant renovation potential and is ideal for a growing family.

New owners have the option to add a double height rear extension, b-fold doors across the back and a large open plan kitchen/diner. There’s even the possibility to convert the garage and add a further two bedrooms from converting the large loft.

If these works were to be carried out, the owners would be looking at a sale price in the region of £800,000 plus, or a rental income of xx per month.

View property details.

3. A cosmetic makeover for capital growth

4 bedrooms, 1 bathroom, Somers Road, Walthamstow, E17

£650,000 (Freehold)

Potential sale price post work: £750,000

Potential rental price post work: £2,400 pcm

somers road

Nestled in the heart of the highly sought-after Walthamstow area, this property offers an amazing 1,290 sq.ft. of space.

It does require cosmetic modernisation throughout, so has plenty of potential and would be ideal for a buyer looking to style a home to their own personal taste. Home improvements, like modernising the bathroom, carpet and kitchen cabinets, would really improve the home’s value, and turn this spacious, light-filled property into a welcoming family home or desirable student rental apartment.

View property details.

4. Potential to extend into the loft and add another bedroom

3 bedrooms, 1 bathroom, Rojack Road, Forest Hill, SE23

£675,000 (Freehold)

Potential sale price post work: £725,000

Potential rental price post work: £1,700 pcm

Rojack Road

This large, freehold house, just a short walking distance of Forest Hill train station, has recently undergone noticeable exterior refurbishment, meaning the exterior brickwork is presented beautifully and really makes the house stand out from neighbouring properties.

While the interior is beautifully done and doesn’t need updating, the property offers the potential to extend into the loft (subject to planning permission) to create an extra bedroom. Adding this extra space would take the value of the property to around £725,000, as well as increasing the potential rent.

View property details.

5. Potential for a back extension into the garage

3 bedrooms, 1 bathroom, Lichfield Road, Woodford Green, IG8

£725,000 (Freehold)

Potential sale price post work: £850,000

Potential rental price post work: £2,250 pcm

Lichfield road

This spacious family home in Woodford is already in excellent condition, and the location is a bonus too, with convenient connections into central London and to the area’s Outstanding schools.

However, there is the opportunity to extend over the garage and possibly do a loft extension too (STPP). If fully extended into the garage with a back extension and loft conversion, you could likely add around £100,000 to the sale price. The ideal project for a growing family or an investor.

View property details.

6. Loft extension, side return and modernisation

3 bedrooms, 2 bathrooms, Northway Road, Denmark Hill, SE5

£725,000 (Freehold)

Potential sale price post work: £900,000

Potential rental price post work: £2,400 pcm

northway road

Northway Road is considered one of the most desirable streets in Camberwell, so it’s no surprise this family home has remained with the current owners for over 30 years.

As such, it does require cosmetic modernisation throughout, but this will give a savvy homebuyer or investor the chance to put their own stamp on the property and have everything as they like it.

In terms of adding value to a property, adding extra square footage that can be used as an additional bedroom is definitely one of the most profitable improvements you can make. If the new owner was to modernise the property, add a fourth bedroom through a dormer loft conversion (which many properties on the road have done), as well as a side return, they could add a huge £175,000 to the asking price, or achieve a rental price of around £2,400 per month. Impressive.

View property details.

7. Development potential and vacant possession

3 bedrooms, 1 bathroom, Queens Road, Leytonstone, E11

£745,000 (Freehold)

Potential sale price post work: £950,000

Potential rental price post work: £2,500 pcm

queens road

Located in up-and-coming Leytonstone, this large, three-bedroom, semi-detached property has fantastic development potential (STPP).The property would benefit from a cosmetic refurb in the form of a new kitchen, bathroom, flooring and general modernisation, which would breathe new life into the property as well as hiking up the price tag. The property also has the potential to be extended (explain how) which would add more space and value – ideal for a family or an investor.

View property details.

8. Renovate to take this property over the million mark

3 bedrooms, 1 bathroom, Henslowe Road, East Dulwich, SE22

£925,000 (Freehold)

Potential sale price post work: £1.1 million

Potential rental price post work: £2,600 pcm

henslowe road

Set on what’s considered one of the most desirable streets in East Dulwich, just a short walk from Lordship Lane, this property is offered to the market chain free with fantastic potential.

Cosmetic improvement - like modernising the bathroom, carpet and kitchen cabinets - could transform this spacious property into a wonderful family home. It will also bring up the value to over the million pound mark, as the market always places a premium on attractive, recently renovated property.

View property details.

If you are interested in any of the properties featured give us a call - or click here to get a free property valuation in 60 seconds!

*Potential investors should satisfy themselves that any property acquisition meets their requirements and should take independent professional advice regarding the achievability of the potential sale price. Potential sale and rental prices quoted here are indicative, not guaranteed and may be lower if the property does not achieve continuous occupancy and dependent on the condition of the property and the market conditions

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