We acquired this project at the end of October, 2016. This mid-terrace three bedroom freehold property was conveniently located on the famous Muller Road, close to shops and transport links. The property was run down and required a full refurbishment. Our intention was to use it as a quick turn-around project: buy-refurbish-sell. The entire house was completely re-engineered, internals taken back to bare bricks, new plumbing and electricity systems installed and the space re-designed to create a stunning home. The project was completed in eight weeks and the house went on the market for sale in early February, 2017.
The building was completely refurbished to high standards, generating unique character through a combination of period features with a modern design. The project was completed on time and within the planned budget. We were happy to find the buyer within few weeks and expected to complete the sale in March, 2017. However, as you can never be a 100% sure in property, we were disappointed to find that the sale has fallen trough. The property went back on the market three weeks later and found a new buyer within two. Delay in sale process was a time consuming and had an impact on the profit margin.
|Refurb . Costs:||£26,000|
|Total Project Costs:||£279,000|