Project
Seaton ex12
2 Bed Cottage: Devon
Completed 2017
Project Summary
Dilapidated auction property to high yielding serviced accommodation
This project completed in 2017 and involved a back to brick renovation of this neglected seaside cottage. Purchased at auction for £94,000 we spent £55,000 on refurbishing the property (including finance and legal costs). With a revaluation of £190,000 we were able to refinance leaving £7,000 in the deal with a ROCLI (return on capital left in) of 171%.
Quality design and finish
We turned this unmortgageable, derelict auction property into a high yielding, attractive serviced accommodation unit in a popular seaside village in Devon.
Fundamentals
High Demand
Capital growth
Before and after
the work
How we added value...
– Back to brick
– Rewire and new heating system
– New high spec kitchen and bathrooms.
– New windows
– Rear wall insulated and clad
– Re-plastered and decorated throughout
