Generating refurbishment uplift on a prime London rental property: Pimlico, SW1V

End result

Generating refurbishment uplift on a prime London rental property (floor plan) - London Central Portfolio Limited

Before

Generating refurbishment uplift on a prime London rental property (floor plan/before) - London Central Portfolio Limited

A daughter of a longstanding LCP client wanted to use our exclusive buying service to acquire a rental investment in Prime Central London. Our unique ‘one stop’ service, including purchase, refurbishment, letting and management offered a hassle-free and appealing route to market during a global pandemic.

Investment Criteria

  • Tenure:
    Share of Freehold
  • Search Area:
    Prime Central London
  • Specific Preferences:
    Unmodernised one or two bedroom flat in need of modernisation
  • Purchase Price Budget:
    £1,000,000

The Final Selection

A two-bedroom property in Pimlico had been under the same ownership for a long time and as a result required a total refurbishment. Our in-house design and project management team, specialising in space optimisation, were able to reorganise the property to create a more practical and appealing layout and an open plan living area.

  • Agreed Purchase Price:
    £865,000

The End Result

The flat post-refurbishment achieved a 33% uplift in rent compared to the other similar rentals. LCP were able to identify two professional tenants within a matter of weeks during the third national lockdown.

The Returns

  • Gross Rental Yield:
    3.9%
  • Valuation Post-Refurbishment:
    £975,000

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