HMO and flat refurbishment
Citadel Road, Plymouth
Comprehensive refurbishment, layout reconfiguration and en suite installation across three HMOs and three flats.
Purchase price
£1,500,000
Cost of works
£900,000
GDV
£3,000,000
Profit
£600,000
Key features
- 3 x 11 bed HMO
- 3 x 2 bed flats
- All en suite rooms
- Rents £350k
- Full refurbishment and modernisation
What the property was
A multi-unit period building in central Plymouth that no longer matched local rental demand.
What changed
Comprehensive refurbishment, layout reconfiguration and en suite installation across three HMOs and three flats.
What value was created
A higher quality, fully compliant and operationally robust asset producing strong rental income.
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.