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.
FRONT ASPECT BEFORE
FRONT ASPECT AFTER