We gave 8 Properties a £617k uplift!
We took over the refurbishment of a landlord's portfolio valued at £870k, and it's now worth £1.8 million.
About this Pembrokeshire project:
A local developer passed away leaving an estate including 8 properties. They were all tenanted Buy To Let investments with varying lengths of rental lease remaining. The beneficiaries lived overseas and wanted to liquidate the assets.
We compiled reports including valuations, rental yields, tenancy leases and renovation uplift.
The beneficiaries instructed us to renovate the properties as and when they became vacant and to manage the subsequent sale.
We successfully managed the portfolio, communicated with tenants and assisted with finding the tenants new homes at no extra costs as leases expired over several years
The outcome
Original valuation:
£870,000
Cost of works:
£365,000
New valuation:
1,852,500
Owner's Profit
£617,500
Increase in Value
112.9%
Our experienced consultants prepared detailed reports, including valuations of the properties in their existing condition as well as the potential value if refurbished. We also suggested a marketing strategy, included agent recommendations, and gave renovation ideas supported by the estate agent valuations.
Once the renovations had been finished, the original valuer re-attended to carry out new valuations. The properties were then placed on the open market and sold for a staggering profit.
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