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Renovating property for profit

March 9, 2016

Many of us dream of making money from buying and renovating property.

And whether you’re buying-to-let, buying to flip, or you have plans to sell, renovating a property can be immensely profitable if done well.

We’ve compiled a list of our top renovation projects, and included some useful tips to ensure the process runs as smoothly as possible.

If you are interested in any of the properties featured, give us a call 020 7099 4000!


1. Loft conversion with roof terrace:  First Floor Flat,  Stephendale Road, Parsons Green, SW6

Adding an extra bedroom can add up to 20% to the value of your home, particularly if it’s a loft conversion. This property would rocket in value if it was to benefit from a makeover, a loft conversion and a roof terrace. An added benefit is that the freehold is being sold with the property, so the owner will not need any requisite permissions.

2 Bedrooms, 1 Bathroom

Asking price: £750,000 (Freehold)

Potential sale price after conversion: £1.1 million*

Click here for more details!


2. Convert two flats into a whole house: Ground Floor Flat, Stephendale Road, Parsons Green, SW6 & First Floor Flat, Stephendale Road, Parsons Green, SW6 (see above)

An exciting and rare opportunity to purchase both the ground and first floor flat (see images above), add a loft conversion, side rear extension, makeover the property and turn it into a 4 bedroom family house.

Ground floor flat asking price: £650,000 (Leasehold)

First floor flat asking price: £750,000 (Freehold)


3. Splitting a house into flats: Orde Hall Street, Bloomsbury, WC1N

A rewarding opportunity to convert a property into two properties, or refurbish the property to a contemporary standard. Click here to read our top things to consider when converting a house into flats.

2 Bedrooms, 1 Bathroom

Asking price: £775,000 (Leasehold)
 
Studio potential rental price after conversion:  £375 pw | Yield: 4.1%
 
1 bedroom potential rental price after conversion: £450 pw | Yield: 4.9%*
 
Potential sale prices after conversion: Studio: £475,000 | 1 bed: £550,000 | Total sale price: £1,025,000*
 


4. Development / refurbishment job: Camden Road, Holloway, NW1

A unique opportunity to purchase freehold for two commercial properties, plus four, two bedroom apartments. There is an additional potential development opportunity (stpp) where the current car park is located. 

All premises are currently occupied by Portico tenants.

8 Bedrooms, 4 Bathrooms (4, 2 bedroom flats)

Asking price: £2,999,999

Potential rental price after reburb (residential/commercial combined):  £133,500 per annum | Yield: 4.5%*

Click here for more details!

“This is a once in a lifetime opportunity to refurbish four average flats into four luxury flats, and earn an annual rent of around £133,500. There’s massive demand for high-end, contemporary accommodation in Camden, and the flats would be snapped up in no time at all. The property also has the potential to be converted into two maisonettes, which are also extremely sought-after." Vatche Cherchian, Portico Regional Director.


5. Makeover job: Marylebone Road, Marylebone, NW1

A fantastic opportunity to makeover a two bedroom property in the heart of the West End. 

2 Bedrooms, 2 Bathrooms

Asking price: £950,000 (Leasehold)
 
Potential sale price after makeover: £1,200,000*
 


If you are interested in any of the properties featured, or if you’d like more information on the topics discussed, give us a call 020 7099 4000!

*Potential investors should satisfy themselves that any property acquisition meets their requirements and should take independent professional advice regarding the achievability of the rental yield and the value of the property itself. Potential rental yields and sale 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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