Mixed commercial and residential
97/99 Mutley Plain
Extension, conversion and full refurbishment producing six flats, a ten bed HMO and two retail units.
Purchase price
£585,000
Cost of works
£650,000
GDV
£1,800,000
Profit
£565,000
Key features
- 6 flats
- 10 bed HMO
- 2 retail units
- Prime location
- Extension added
What the property was
A prominent Mutley Plain building with underused upper floors.
What changed
Extension, conversion and full refurbishment producing six flats, a ten bed HMO and two retail units.
What value was created
A mixed use asset combining commercial income and a strong residential rental base.
Before and after
Before
After
Profit figures shown reflect GDV minus core project costs. Additional acquisition costs, finance costs, professional fees, tax and investor specific costs may vary and are not included in these high level illustrations.