Another of our most recent projects has delivered the numbers for our investor.
This listed property is located in the heart of Kemp Town Village, Brighton was sourced, designed and developed by Target Five. The works consisted of converting the existing 2 bedroom maisonette, to create 3 bedrooms and a new shower room on the 3rd floor.
Property Purchase Price: £200,000
Build Cost: £50,000
Furniture: £6,000
Rental Income: £375,000
ROI PA: 12%
or combined YR 1: 56%
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Preparing for the valuation survey itself is paramount, as part of Target Five’s service to our VIP Investors, we put together a comprehensive valuation report for the surveyor on the day, documenting the details around the project, the current rental income, detailed explanation of current comparable properties for both the rental and sales market, the renovation specification, planning documents and certificates/licences acquired. Meeting the surveyor in person is vital, especially if the property is tenanted, you need to be on hand to answer all questions. ⠀⠀
Not a bad return for adding a bedroom and shower room!
Interested in working with T5, or finding out more, please email information@targetfive.co.uk