9 Nairn Court, London SW19 – Example of a re-fit
I recently carried out a full refurbishment of a two-bedroom flat in central Wimbledon. The refurb included a new bathroom, new kitchen with integrated appliances, complete redecoration, and new carpets throughout.
%
Increase in value
%
Increase in rental
Cost of works (£)
Payback Period (months)
Before Refurb
- Property valued at £390,000 in October 2013
- Rent received was £1,200 pcm (or £14,400 pa)
After Refurb
- Property now valued at £597,976 (Zoopla.co.uk 14/08/14) – increase of 54%
- New rental achieved is £1,650 pcm (or £19,800 pa) – increase of 29%
- Cost of works, which were fully managed by MPC was £12,000
- The payback period is 2 years and 2 months