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Open Plan Kitchen Conversion

Argyll St, Coventry, West Midlands

CASE STUDY

The Property

An end terrace property at the sought after area of CV2 near walsgrave
road and 15 mins from Coventry University. Tenanted under housing
association.

The Plan

  • Create 5 bedroom with en-suites
  • 6m extension with vaulted ceiling
  • Large open plan lounge/kitchen.
  • Add 2 bedroom in the attic
  • Additional bedroom on the ground floor.

The Work

  • Internal Layout Re-Design
  • Chimneys removed
  • New stairs and rewiring installed including radiators
  • Build dormer to achieve 2 rooms in the attic
  • Extension at 6 meters under permitted development with glass lantern.
  • Fully decorate and furnish throughout

The Numbers

Pre-Refurb Sale Price
£87,000
Refurb Cost
£110,000
Currently Let£2,625
Current Management Fee£183.75
Current Monthly Bills£250
Mortgage (subject to re-finance)Nil
Estimated Maintenance Allowance (5%)£131.25
Expected Monthly Profit£2191
Expected Monthly Profits
£2,191.00
Est. Post Refurb Value
325,000
Expected Net Equity
£103,000

Kitchen Area

Furnished & Decorated

Lounge Area

Featured Wall & Cosy

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