A representative sample of the many building and investment projects undertaken by us.
Zetland House Student Accommodation, Huddersfield
JV purchase of run-down group of HMOs and 2 commercial units (ultimately vendor assisted after land issues). Complete back to brick heavy refurbishment and reconfiguration, conversion of commercial elements, exploitation of roof space with 14m+ of rear dormers, exploitation of existing cellars plus excavation, build extension, creating 35+ room HMO style student accommodation, 3 minutes walk from Uni.
Strategy: BRR – commercial refinance to hold
Annual Rental Income: £144k
Gross Yield: 11.08%
Langdale Avenue, York
Auction purchase of neglected semi-detached house in quiet suburban cul-de-sac in good York area. Required minor structural remedials due to settlement. Complete refurbishment.
Strategy: BRS – buy, refurb, sell for profit
Purchase Price: £130k
Costs – refurb, purchase and selling: £22k
Net Profit: £24k
New build timber framed house, Moray
A new build for construction for a timber framed house on a virgin green field site in Moray, Scotland. The build contract was for an investor in possession of the land, with a straightforward exit, selling on to the open market. (Completions pictures coming soon)
Strategy: New Build – planning gain, build out, sell
Land Price: £77k
Costs – build costs, planning, purchase and selling: £85k
Net Profit: £47k
House extension and annex, Ambleside, Cumbria
Contract to extend an existing house and to convert the garage into a separate annex for lettings. The owner is a previous work colleague who has retired to live in the Lake District. The adaptations took full advantage of the stunning location. Of course, it being the Lake District, the build phase endured torrential rain with record flooding and a vicious winter – to be expected!
Strategy: N/A, build contract only
Build Costs: £185k