Apartment Refurb with a 50% uplift

In just 2 months this property went up an extra 50% (£75k) in value. How? We gave it a complete refurbishment.

Original Valuation

£150,000

Refurb Cost

£32,000

New Valuation

£225,000

Owner's Profit

£43,000

About this Frenchay (Bristol) project:

A private client introduced this three-bedroom apartment to us in 2018. His mother had gone into care and the property was in considerable disrepair. Complete renovation was required and its market value at that time was £150,000.

Using our qualified tradespeople, we refurbished the apartment in its entirety and completed works within an 8-week period, at a total cost of £32,000.The apartment was then let to professional tenants generating an important income for the client’s family to support their mother in care.

Schedule of Works over just 2 months:

Week 1 - Strip out of existing kitchen
Week 2 - Strip out existing bathroom and flooring
Week 3 – Electrical and plumbing works
Week 4 – Plastering throughout
Week 5 - Installation of kitchen
Week 6 - Installation of bathroom
Week 7 – Decorations
Week 8 – New flooring fitted

The outcome

Original valuation:

£150,000

Cost of works:

£32,000

New valuation:

£225,500

Owner's Profit

£43,000

Increase in Value

50%

On completion of the refurbishment works, the property was valued at £225,000, which is 50% more than the original valuation. The final renovation cost was £32,000.