Conversion of C3 Dwelling house into C4 HMO
Hereford – 15 Minutes from Hereford County Hospital
4 Months – Project Completion November 2017
Private Equity Loan
Purchase price: £260,000
Procurement Cost:£13,700(Inc SDLT)
Build/Refurb Cost: £92,000
Total Investment: £365,700
The Property is to be let to six individual professional tenants on separate ASTs. The Works took 4 months and cost just over £90k.
The Works consisted of comprehensive refurbishment including creating 3 new double rooms (by building and moving walls), new kitchen, communal bathroom, additional four ensuites, full redecoration and new floor coverings throughout as well as complete landscaping of front garden to create off street parking for eight cars.
Appleton Asset Management has agreed commercial Finance Post Refurb on the property of £505,000. The building will be retained and rented out, producing over £40k gross income PA.