Developed Properties
19-25 Cardiff Road
This property was burnt out completely in a fire and one of our landlords Prestige Construction Ltd, consulted me and asked what I would do with the property if he purchased it.
The property was a 1900’s commercial building, with shop fronted offices to the ground floor and basic office space to the further three floors in four buildings joined by corridors. It had parking to the rear for approx 18 cars and very close to the town centre.
I suggested separating the buildings into small apartments on the upper three floors, with basic amenities for the students attending the University. To the ground floor, I recommended keeping commercial office space.
Mr M Hussain agreed with this, he applied for planning permission accordingly and once gained, proceeded to convert and refurbish the buildings, at a cost to him of £80,000.
Once the building work was completed, the landlord furnished all of the flats, including washing machines, furniture and soft furnishings. When the flats were ready, we proceeded to let out all of the 11 flats to students.
We then concentrated on the commercial units, we let these to two solicitors, a beauty salon and a taxi company.
Once we had secured tenants, we advised Mr Hussain to sell the property to gain the maximum price possible and we did. We sold the property for £1.1 million, ensuring him a significant return on his investment.
Latimer Road
We had a landlord, who owned a rental property in Latimer Road, the office building next door was for sale and in enquired as to whether I thought he should also buy this property.
I advised he should, as the house and offices combined would make ideal premises for many different types of business. He bought the property and applied for planning permission.
The buildings were expanded and developed extensively. Giving the owner, offices, stores, studio space and parking for up to 15 cars.
Once complete, we found a college to take the building, with an annual rental income of £75,000. Providing the landlord with a good rental return for his money.
Adelaide Street
Two derelict units and 750 square meters of land, located close to the town centre. The properties and land were bought by Prestige Construction Ltd.
Upon my advice, one building is being developed into two luxury apartments, whilst the other is being developed into three commercial units.
Whilst the work is currently underway, the land is not being developed. I advised the landlord to mark the ground and allocate the spaces to prospective tenants as parking spaces. The land now provides an income of approx £1,500 per month, whilst he is developing the buildings.
Upper George Street
Located in the town centre was this large building, which was previously a private members Labour Club, on the market for £1.1 million.
An ideal location for flats, with the correct planning permission.
The client has several drawings complied, before the council gave the permission. However, now work is underway for the construction of 40 luxury apartments and retail units to the ground floor in the town centre.
Conservatively the client could make £1 million pounds from the deal.
Tennyson Road
This property was a privately run school for many years. After closing the building was left to decay, our clients purchased the property. The style of the property and spacious rooms, would be ideal to spacious luxury apartments if the layout was correct.
The landlord had drawings made and applied for planning permission’
During this process which can be lengthy, we wanted to let the building. We advised due to the layout it would ideally suit another type of educational facility.
The client completed a basic refurbishment to the property and we found them tenants, who are using the building as an educational facility and currently occupy 34.5 of the land with a 3 year lease. They are doing so well, are in negotiation with the landlord to increase their space.
The landlord has gained planning permission after two years of negotiations. The educational facility is doing really well and they are also interested in purchasing the site, which has gained value.
Whichever option the landlord chooses, he will have made money and he has had a good income from the property.
Dumfries Street
This property was purchased by our client as a rundown building converted into six small studio apartments, with a spacious rear yard currently used as a double glazed warehouse.
I advised the client that the studios were very small and would not let for very much, as the facilities were extremely limited due to the space. I thought that the property would lend itself to larger flats, with good decor and modern facilities.
The client agreed with me and for a small outlay, he converted the front building into five spacious one bedroom apartments. The rear has been converted from a double glazing company to a further two one bedroom apartments and seven studio apartments.
House Conversions – Reginald Street
Our client’s, Mr H & G Gold purchased two semi detached run down houses next door to each other, with a view to refurbishing them individually and letting them out.
I suggested that the two should be combined and converted into spacious one bedroom properties. This would increase the value for letting and also the re-sale value in the long term.
With little construction, the property was converted and let out. The clients then sold the property, as four individual one bedroom apartments and made a tidy sum.
William Street
We had a landlord wanting to expand their portfolio. We found a house in need of modernisation close to the town centre, ideal for students.
We arranged for the workmen and trades to complete the renovation once the sale was complete. Within two months, the property was refurbished, furnished and let for a good rental return.
Frederick Street
We had a client who had let their property decline, it had been let out for many years and he had not maintained the property. He needed money fast, we had another client who purchased the property at a price that was acceptable to the client. Refurbished the house and sold within 3 months for a profit.
Wellington Manor
Located in the town centre on a prominent crossroads was a string of derelict shops with accommodation above. Several were unfit to enter and in danger of falling down. I had a client looking for a large development opportunity, so I liaised with the owners and helped him purchase a large plot within the town centre.
After several drawings and numerous meetings with the planning officers at the local council, the developer and builders, we eventually got planning permission for the site. The plans including 38 brand new apartments, 4 commercial units and parking.
Once the plans had been finalised, we started to sell the apartments from plan. Offering our clients choices of different finishes for the kitchen, bathroom and living areas.
Selling from plan gave our client peace of mind and financial security for the duration of the build. Knowing that all the flats had been sold.
The building has been finished in stages, we have secured tenants for all the clients that purchased the apartments on a buy to let basis and we are having continued success with the site.
Some clients have also decided to sell. We have offered competitive fees and have extensive internet and newspaper advertising. With the help of independent financial advisers, we can offer many different options to buy, part buy and rent.
This development has made our original clients and many others a good return for their investment and extended our reputation to once of excellence and outstanding service.
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