Church Street, Stoke-on-Trent
Currently a retail unit with offices above, the existing building will be transformed into 10 individual residential studio apartments.
Planning has already been granted for the change of use.
We are currently raising up to £375,000 for this project.
* Warning: Capital at risk. The value of your investments can go down as well as up, so you could get back less than you invested. Suitable for sophisticated investors. *
Target finish
The investment…
Purchase price £210,000
Stamp duty £250
Professional fees £24,180
Cost of refurbishment £265,000
incl 10% contingency
Total costs £544,379
incl returns
GDV/DUV lower estimate £665,000 ( 75% remortgage at £498,750 gives us the majority of our entire investment back, leaving £45,629 )
Income going forward…
Residential income £6,317.50 PCM ( £75,810 PA incl. 5% void rate )
less: Interest only remortgage & Running costs £2,327.02 PCM ( £27,924.24 PA )
Total net income £3,990.48 PCM / c. £47,885.70 PA
Return on investment…
With £45,629 of our investment left in the property after refinancing, this net annual income represents a return on investment of 105% in the first year. In a nutshell, the remaining amount is repaid in around 11.43 months, and we’re left with an income-producing asset for life.
Over a ten year period the property will produce around £478,857 in income which can be reinvested into future purchases.
If you’re interested in becoming involved with this opportunity, with the ability to earn excellent fixed returns, please contact us.