Renovate this one house back into 2, title split and profit £85,000!
Renovate this one house back into 2, title split and profit £85,000!
1 house back to 2!
Grasp this lucartive deal oppertunity and develop these 2 properties on one title back to 2 seporate dwellings
Property Details:
Purchase Price: £150,000
Renovation Costs: £120,000
Estimated End Value: £370,000
Investment Potential:
Estimated Flip Profit: £85,000
You can reserve this lucrative deal for just £199. This holding fee is fully refundable should you decide not to proceed after completing your due diligence. Don’t miss out on this fantastic investment opportunity!
Property Address: Blackfield Row, Pontycymer, Bridgend
Property Description: Discover a unique opportunity at this property, where two houses have been combined into one expansive living space. Currently held under a single title, this residence offers incredible potential for renovation and reconfiguration. With breathtaking views of the Cefn Cribwr countryside from the back garden, the property is perfectly positioned to become a beautiful family home or two distinct residences, catering to the increasing demand for housing in this desirable area.
This region is highly regarded for its vibrant community atmosphere, excellent local amenities, and proximity to transport links, making it an attractive choice for families and professionals alike. Houses in this area are in high demand, which further enhances the value of properties available for renovation. By reconfiguring the layout and converting this property back into two separate houses with individual titles, you can unlock significant value and capitalize on the upward trend in property prices. This property is ideal for those looking to invest in a promising location, create a personalized living space, or develop rental opportunities in a market that continues to flourish.
Number of Bedrooms (current): 5
Is there potential to add a bedroom?: No
Reception Rooms: 4
Bathrooms/shower rooms: 2
Property Asking Price: £150,000
Agreed Sale Price: £150,000
Fair Market Value (DUV): £185,000 per unit (£370,000) for both properties
Comparable 3: https://www.rightmove.co.uk/properties/141632402#/?channel=RES_BUY
The area surrounding this property is highly sought after, known for its vibrant community, excellent amenities, and convenient transport links. Property prices have steadily increased by approximately 5% annually, driven by the area's desirability and ongoing developments. Our extensive local knowledge, combined with discussions with real estate agents, has allowed us to accurately assess the potential value of this property, considering recent sales and market trends.
However, there are no recent direct comparables within the immediate area to provide a precise benchmark for valuation. The closest comparable, a property next door, sold for £155,000 in 2012 and required full modernization, while another comparable sold for £170,000 but also needed refurbishment. Despite the lack of recent comparables, the upward trend in property values and the specifics of these past sales support our confidence in the estimated end value following the proposed renovations.
Market Status: on the market
Is the property in a lettable condition: No
Is the sale price negotiable?: No
Property Type: 2 House on one title
Freehold or Leasehold: Freehold
Is the property part of portfolio?: No
Exit Strategy 1: Cash Purchase Flip (or bridge)
Exit Strategy 2: BTL
Potential Target Demographic: Families
Refurbishments Required:
Installation of necessary utility connections, including water, gas, and electricity.
Title Split: Legal processes to separate property titles if applicable.
Extension: Construction of any new extensions to the property.
Waste Removal: Clearing of debris and waste from the site to ensure a clean work environment.
Energy Performance: Assessing and improving the energy efficiency of the building through insulation and other measures.
Windows: Installation or replacement of windows for improved aesthetics and energy efficiency.
Garden: Landscaping and gardening work to enhance the outdoor space.
Chimney Removal: Dismantling or removing the chimney structure if it is no longer needed.
Roof: Repairs or replacements to the roofing structure to ensure it is watertight and secure.
Guttering: Installation or repair of guttering systems to manage rainwater effectively.
Knock Wall Down: Demolition of specific walls to create open spaces or reconfigure layouts.
Stud Walls: Construction of stud walls for new rooms or to partition spaces.
Plumbing & Heating: Installation or upgrades to plumbing and heating systems for comfort and efficiency.
Skirtings & Doors: Fitting of skirting boards and doors to complete the interior finishes.
Paint: Paint is applied throughout the property for aesthetic appeal.
Flooring & Carpet: Laying down flooring and carpets to enhance comfort and style.
Kitchen: Installation or renovation of the kitchen area, including cabinetry and appliances.
Bathroom Ensuites: Construction and finishing of ensuite bathrooms for added luxury and convenience.
Electrics & Smoke Alarms: Installation of electrical systems and smoke alarms to ensure safety and functionality.
Plastering: Final plastering work to prepare walls and ceilings for painting and finishing touches.
Estimated Refurbishment Costs: £120,000. Tiger Burrows Ltd can offer renovation management with a dedicated project manager for 10% of the renovation costs.
Flip Figures - Purchase Price: £150,000
Refurb Costs: £120,000
Entry Legal Costs: £1000
Exit Legal Costs: £1600
Stamp Duty: £6000
Survey Costs: £350
Tiger Burrows Consultation Fee: £6,500
Estimated 6 months bills costs: £750
Estate Agent Selling Fees: £5,472
Total Costs for investor: £279,000
Re-sale price (DUV): £380,000
Estimated Flip Profit: £85,000
