We find properties which are in need of renovation and where we can better maximise the buildings layouts through innovative design.
For example, a three bedroom, two reception room house could have one or both of the reception rooms converted into bedrooms resulting in five lettable living spaces.
HMO's offer yields far in excess of single-let buy-to-let properties in the same area.
Through maximising the potential of a buildings layout, HMO's can facilitate the UK's housing shortfall by providing additional living spaces of real quality for tenants to love and enjoy.
There are very clear rules on the standards required of HMO properties.
These rules differ slightly between local authorities but are concerned with living space, fire and smoke security, privacy and quality of accommodation.
HMO's require a licence from the local council which can only be obtained following completed refurbishments against the strictest of guidelines.
Commerical to Residental (C2R)
Innovative conversion of derelict commercial units into beautiful residential spaces.
Typically we take offices which were once residential properties and convert them back into residential units again.
We look for various disused commercial buildings including offices, care homes and pubs in areas with reliable buyer demand.
The building layout should show potential for conversion into apartments or HMO rooms.
Across the UK sees a number of disused commercial buildings that with the right eye can be lovingly converted into beautiful residential properties.
Investment returns on C2R projects can be much greater, whilst there is additional potential to charge ground rent and service charge on specific projects.
C2R projects will usually require planning permission.
This means additionals costs for architects, planning consultants and legal advice, with no guarantee that there will be an approved project at the end of the process.
For this reason the C2R strategy is only suitable for more experienced investors who understand that some money will be ‘at risk’ until planning permission is obtained, and may be lost if it is rejected. However, the gains are much more rewarding.
There are thousands of properties nationwide that with a little bit of tender loving care can be modernised and injected with a new lease of life.
We look for tired looking houses (terraces/semi-detached/detached) that our team of builders can spruce up so that we can offer habitable homes back to the UK housing market.
A well-presented property will not only present an opportunity to charge higher rents but will usually result in happier tenants.
Happier tenants are more likely to stay and therefore void periods will be reduced.
We can all at times get carried away with even the most straightforward of refurbishments.
Therefore it is important to utilise the best build teams with access to the best available products at the very best trade prices to produce a quality finish within time and on budget.