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Silver Grove, SE16

   SILVER GROVE, SE16

  • We purchased 18 residential houses in private development for £7 million in June 2013
  • Arranged as 93 rooms on an HMO basis
  • Properties were dated and did not adhere to current HMO standards
  • We refurbished and extended the houses to maximise rent and meet all legal standards
  • Refurbishment project cost £1,3 million
  • 12-month project turnaround
  • Properties valued at £13.4 million after refurbishment in June 2015
  • Net 106% uplift in capital invested
  • Rental income in excess of £70 000 per month

PLANS

Here you can take a look at the full scale plans of the house, and interact with it in order to grasp its full scale and experience the design elements of the house and surrounding areas.

INVESTMENT MODEL

PURCHASE SUMMARY RENTAL SUMMARY
Purchase price £ 7 000 000.00 As student accommodation £ 175.00
Stamp duty £ 210 000.00 Number of units 93
Construction and development £ 950 000.00 Rental income per unit per week £ 70 470.75
Furniture £ 100 000.00 Minus bills and service charge £ 7 200.00
Legal and planning fees £ 40 000.00 Management fee £ 13 389.44
Total development cost £ 8 300 000.00 Mortgage interest @ 4% £ 26 800.00
Value after refurbishment/conversion £ 13 400 000.00 Nett cash – assuming no capital repayment £ 23 081.31
Nett development profit £ 5 100 000.00
Financing of property post completion £13 400 000.00
Financing at 60% Loan To Value £ 8 040 000.00
Cash invested after re mortgage £ 260 000.00
Nett return on cash invested after financing 106.53%
Gross yield 12.08%

CONTACT US

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