Additional Flats in Greenwich

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.

Details:

Total Units
0
GDV
£ 0
Gross margin
0 %

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.

Permitted Development

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

Initial

30

£352

£177,000

£233,000

£6,476,250
£5,150,438
£1,325,812

26%

19 months

£500,000

Actual

30

£528

£239,794
£252,989
£8,693,875
£5,505,030
£3,188,845

57.93%

19 months

£550,000

©2021 YKG Asset Management

Share this:

Like this:

Like Loading…

Discover more from YKG Asset Management

Subscribe now to keep reading and get access to the full archive.

Continue reading