This project was a run-down 4-bed end-terraced house which we converted into a 6-bed professional HMO with six en-suites. To do this we completely gutted the property to manipulate the layout to best serve the function of the house. We built two extensions, we extended the rear of the property by three and a half metres which enabled us to add two extra bedrooms and en-suites. We also extended to the side of the property by three metres to give us a separate kitchen and communal living space that was spacious, comfortable and modern.
We added solar panels to the property to take advantage of a government incentive and installed a heat source pump, both of which, alongside the extensive insulation installed in the property, help the house be as energy-efficient as possible.
By gutting the property, it allowed us to install wired Ethernet cables and USB plug sockets into every bedroom and the communal spaces. We also installed aerial points into bedrooms. Every bedroom is wired individually meaning that if one room is circuited, then no one else is affected.
The project has been revalued and re-mortgaged to release the majority of the equity back out of the property giving the investor a better return on their investment.
The property was fully let through our sister company VCC Homes (www.VCC-Homes.com) during December 2015, a time of year which is renowned for being slow to rent. Investors like you can benefit from these projects too, just get in touch.
Purchase Price: £286,000
End of project Valuation: £425,000
Gross Annual Rent: £50,400