53–55A Baker Street, Reading
Mixed-use scheme comprising ten units (two offices and eight flats). The strategy involved the selective disposal of commercial elements and the refurbishment of residential units.
Overview
Mixed-use scheme comprising ten units (two offices and eight flats). The strategy involved the selective disposal of commercial elements and the refurbishment of residential units.
- Purchased for £70,000
- Disposed of two commercial units for £239,000.
- Commenced refurbishment of eight flats to enhance rental and resale values.
- Full project including purchase, finance, fees and works: £1.3m.
HEADLINE FIGURES
| Purchase Price | £700,000 |
| Build Costs | £400,000 (refurbishment of eight flats) |
| Professional Fees | £50,000 |
| Finance Costs | £150,000 |
| Total Cost | £1,300,000 |
| GDV | £1,705,000 |
| ROI | c. 31% |
| Profit | £405,000 |
SITE
BEFORE
