Dunedin Road, Corby Northamptonshire
This property was sourced by us on behalf of an investor.
It was purchased in need of refurbishment, the vendor had passed away, leaving the property un-mortgagable due to there being no kitchen or bathroom in situ.
The property was marketed at £170,000 however because it was cash buyers only it had had no offers.
Given our local knowledge we knew that with a high quality refurbishment there was a profit to be made.
This was a turn key project for our investor as we managed the purchase, refurbishment and resale for them.
The timeframe from purchasing to selling the property was 6 months.
The Headline Figures are as follows:
PP March 2015 - £162,000
Refurbishment 4 months - £40,000
Sold September 2015 - £239,500
Buying and Selling Costs - £5,000
Profit Before Tax- £32,500
ROCE – 15.7% in 6 months.
FRONT ASPECT BEFORE
FRONT ASPECT AFTER