A longstanding client of LCP's, based in Hong Kong, was looking for a two-bedroom pied-a-terre in Pimlico for their regular family visits to London.
This tired apartment, untouched for 20 years, was ripe for renovation and reconfiguration to create a magnificent home perfect for a modern lifestyle.
Investment Criteria
- Tenure:
Long Lease (900+ years) - Search Area:
Pimlico
- Specific Preferences:
Two bedroom flat in a period building - Purchase Price Budget:
£900,000
The Final Selection
Our in-house project management team, specialising in space optimisation, were able to create an open plan kitchen/living area and add a second ensuite bathroom into the second bedroom. Both bedrooms still benefitted from plenty of wardrobe space.
- Agreed Purchase Price:
£901,000
The End Result
Due to the global pandemic, LCP advised our client to add the property to the rental market whilst they were unable to travel. With its enviable location next to the River Thames and interior design, the property received a lot of interest on the rental market. Within a matter of weeks, LCP selected a professional couple looking for an apartment with plentiful space to work from home.
The Returns
- Gross Rental Yield:
4.2%
- Valuation Post-Refurbishment:
£1,100,000
