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Serviced Accommodation

Hearsall Lane, Coventry, West Midlands

CASE STUDY

The Property

Located in an attractive area of Earlsdon. Bought as a 2 bedroom mid-terrace property originally a family home.

The Plan

  • Convert into a 5 bedroom en-suite
  • Create 2 additional bedrooms in the attic and an additional bedroom on ground floor
  • Create an open plan living room kitchen

The Work

  • Internal redesign and build
  • Chimneys removed to create more space
  • Re-design new stairs
  • Complete re-wiring and new mains re-gas
  • Build dormer to achieve 2 rooms in the attic
  • Drop the floors to be compliant to minimum head height
  • Fully decorate and furnish throughout

The Numbers

Asking Price
£135,000
Purchase Price
£135,000
Refurb Cost
£90,000
Expected Avg. Room Rate£125
Expected Monthly Income (Let for 22 nights)£2750
Expected Management Fee£495
Estimated Monthly Bills£150
Monthly Mortgage (interest only)£300
Maintenance Allowance (5%)£137.50
Total Investment Amount£225,000
Expected Monthly Profits
£1,667.50
Expected Refinace value
£300,000

Kitchen Conversion

Before and during construction
Open Plan Fitted Kitchen with Integrated Lounge

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