9 Nairn Court, London SW19 – Example of a re-fit

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

By increasing the value of the property (and taking advantage of the rising market), you could release equity from this property to put into a new project, while continuing to achieve an annual rental income of nearly £20,000.

Interested In working with me?