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 apartment is situated in a period mansion block in a desirable location overlooking Hyde Park. The property had been left untouched for a number of decades and was in desperate need of modernisation.
The layout was compromised with areas of wasted space, including a walk-through galley kitchen.
Our in-house Project Management team, specialising in space optimisation, were able to reorganise the property to create a more practical layout with an open plan living area and add a second bedroom.
- Agreed Purchase Price:
£725,000
The End Result
The two-bedroom flat received significant interest on the rental market, the landlord benefitted from an instant rental uplift. LCP selected a young professional looking for a modern two-bedroom flat in the Bayswater area.
The Returns
- Gross Rental Yield:
4.0%
- Rental uplift post-refurbishment:
25%
