Dunedin Road, Corby Northamptonshire 

 

This property was sourced by us on behalf of an investor. 

 

It was purchased in March 2015 and was in a state of refurbishment however 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.