101 Park
When we purchased this property it was in a state of disrepair and completely unhabitable. After 3 sales fell through consecutively with other buyers, we approached the agent made an offer on the basis of a quick, cash purchase.
Having secured the property we carried out a high quality refurbishment before selling the property to a first time buyer.
- Purchase price = £62,500
- Purchase + conversion costs = £44,198
- Total = £106,698
- Sold price = £130,000
259 Dogsthorpe
The second property sourced for one of our key investors. This property is in a similarly prime location as 83 Granville (within 0.5 miles) and was converted from a 4-bed family home in need of modernisation into a high-quality 6-bed HMO.
- Purchase price = £220,000
- Purchase + conversion costs = £99,274
- NET rent per annum = £16,868
- NET return on capital employed = 18%
83 Granville
Brown Thurlby acted on behalf of one of our investors to source, negotiate, secure and convert a 4 bedroom family home in Peterborough (PE1) to a high-quality 6 bedroom, all en-suite HMO. The completed asset was then passed to our preferred letting agent, who had the property fully tenanted within 1 month.
- Purchase price = £242,000
- Purchase + conversion costs = £96,370
- NET rent per annum = £19,483
- NET return on capital employed = 26%