The client purchased this at under Home report value due to being in a position to complete the purchase quickly. Our client was completely hands off and once the sale had completed, we then carried out the full refurbishment. By taking the dividing wall down between the kitchen and lounge, it enabled us to open up the kitchen and lounge and create a fantastic open plan living/kitchen with feature centre island. This resulted in a vast improvement and the flat let at £100 over our initial forecast.
Purchase Price | £200,000 |
ADS | £8000 |
LBTT | £1100 |
Refurbishment | £24,000 (inc vat) |
Furniture Package | £6500(inc vat) |
Total Cost | £239,600 |
Rent per month | £1325 |
Rent per annum | £15,900 |
Gross Yield | 6.64% |
Capital Value | £280,000 |