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The Property

The property was built in the early 1900’s for a wealthy family boasting substantial grounds. Over the years, the grounds have been sold to form part of the high street and the property developed into an office space, with onsite parking. The internal space measures at 5622 sq. ft., with gardens and ample parking. The project consisted of converting the property to apartments, to be utilised as serviced accommodation units and be sold within an 18 month period, generating a profit margin of 30% on sale of the converted units.

Planning Overview

Planning permission was granted for the conversion of 14 self-contained apartments, comprising of 3 x 1-beds, 1 x 2-beds and 10 x studios.

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Funding

£1,202,875 was raised by Sourced Capital, to assist with the purchase and conversion of this commercial property.

The Exit

The property was sold as a serviced accommodation investment following completion of the conversion.

Before

After