Situated on the edge of the Thames in Woolwich, London, we proposed to transform an existing mixed-use unit by means of extending and renovating, to create an additional 5 flats.
We were approached by a developer to convert his existing 4 bedroom residential unit into multiple apartments, and we recommended to extend in order to maximise the rental potential of his property.
We proposed to retain the existing retail unit on the ground floor, however, extend vertically by means of a mansard style additional storey, and to the rear, almost doubling the existing floor area and increasing rental potential by a huge 500%! The site, being located in a prime commuter area, was sure to have a great level of interest from potential future occupants, and the site constraints, including the need to protect neighbouring amenities, guided us throughout the design process, looking to squeeze every square meter out of the plot as possible.
Total Units
Unit Sale £psf
Avg Price of 1 Bed flat
Avg Price of 2 Bed flat
GDV
Gross Costs
Gross Profit
Gross Margin
Duration
Equity Investment
30
£352
£233,000
26%
19 months
£500,000
30
£528
57.93%
19 months
£550,000
Subscribe now to keep reading and get access to the full archive.