Purchase Price
£315k
Build cost
£220k
£780k projected End Value
3 bed to 8 bed all ensuite professional HMO
Currently nearing completion this property is being converted from a dated mid terraced 3 bedroom home into an 8 bed fully ensuite professional HMO. These victorian properties really lend themselves to conversion. They generally have plenty of existing floor space, lofts that can be converted easily, tall ceilings and room at the back for extension. This house In Portsmouth is a prime example. We have been able to create some good studio sized rooms and 4 out of the 8 will have kitchenettes.
We sourced this property, then gained Sui Generis planning approval for 8 rentable rooms. The loft conversion and rear extension have been cleverly designed to fall within the permitted development rights, therefore not requiring full planning. By following this strategy we have been able to achieve a successful uplift in value with a gross development value of over double the purchase price.
Contact us to see how we can provide high returns on an investment in one of our upcoming projects!
Existing plan
