Rock Lane West, Birkenhead
The building is currently formed of three separate apartments.
Our plan is to convert the property into an HMO with 11 rooms.
Planning permission is not required.
We are currently raising up to £242,904 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. *
Existing floorplan
Current condition
Target finish
The investment…
Purchase price £285,000
Stamp duty £8,400
Professional fees £22,700
Cost of refurbishment £150,000
incl 10% contingency
Total costs £494,066
incl returns
GDV/DUV lower estimate £575,000 ( 75% remortgage at £431,250 gives us the majority of our entire investment back, leaving £62,816 )
The income going forward…
Residential income £5,795 PCM ( £69,540 PA incl. 5% void rate )
less: Running costs and mortgage £2,730.60 PCM ( £32,767.92 PA )
Total net income £3,064.34 PCM / c. £36,771.08 PA
Return on investment…
In the first year, the net income will pay back all of the money left in, and we will go on to have an income producing asset for life.
If you’re interested in becoming involved with this opportunity, with the ability to earn excellent fixed returns, please contact us.