An existing client was looking for a heritage property to add to their investment portfolio. They acquired an unmodernised one bedroom apartment, using LCP's exclusive buying service, with potential to add value.
Investment Criteria
- Tenure:
Leasehold - Search Area:
Prime Central London
- Specific Preferences:
Heritage property with potential to add value - Purchase Price Budget:
£750,000
The Final Selection
The property had been under the same ownership for over 10 years and required a total refurbishment.
Our in-house Project Management team, specialising in space optimisation, were able to reorganise the property to create a more practical layout, an open plan living area and add a second bedroom in a 606 sq ft property.
Work commenced during the Spring lockdown and finished within 12 weeks ready to be launched onto the rental market.
- Agreed Purchase Price:
£725,000
The End Result
The two bedroom flat received a lot of interest once it came onto the rental market and LCP selected a young professional looking for a flat in the Bayswater area.
The Returns
- Gross Rental Yield:
3.9%
- Valuation Post-Refurbishment:
£910,000
