This modern 3 bedroom property with ensuite was sourced on behalf of a client for a scarcely believable £117,000 off market on a street where comparable properties regularly sold for around £145,000.
Refurbishment Details
Following a light cosmetic refurbishment of around £6,000 the property was launched onto the short-term rental market to high initial occupancy, achieving over £110 per night at around 80% occupancy, leading to a gross return of around £2,500 per month.
Outcome
Case Study
Back To Brick SA Refurbishment
£55,000
purchase price
£140,000 Similar Property Sold Price
value added
Yield
What the investor was looking for
We were offered this property via a distressed landlord who had let the property to a local charity and received it back in horrific condition.
What we found
Refurbishment Details
We agreed a cash sale of £55,000 and spent around £33,000 full refurbishing it representing outstanding value on a street where an identical property had recently sold for £140,000 giving an incredible £52,000 in added value.
Outcome
The property is now used as Serviced Accommodation and achieves over £2,000 per month which represents an astonishing 27% gross yield.
Case Study
The Perfect Buy To Let?
£135,000
purchase price
Similar Property Sold Price
value added
Yield
What the investor was looking for
This 3 bedroom townhouse was purchased for a client in 2021 for £95,000 at a significant discount as a part-exchange.
What we found
The property was bought in immaculate condition and let immediately for £650pcm, giving an approximate net monthly profit
of £350pcm.
Refurbishment Details
Outcome
Barely 3 3 years later comparable properties are selling for around £135,000 and with a new monthly rent of £750pcm our client has benefitted from an
incredible annual Return On Capital Employed of 51% and a total gain of around £52,000 from an initial £33,950 investment.
What our clients say...
I had no idea we could get such good returns. Every aspect of finding and managing our purchase was done with minimal hassle and the advice at every stage was invaluable and often very eye-opening! We are very happy with our investment and we plan on using Blue Skies again for our next purchase. I wouldn’t hesitate in recommending them to anybody else looking for investment property.
– Claire Fenech, Investment Banker
Matt is very knowledgeable about the North East property market. I can highly recommend giving Blue Skies a call if you are considering investing in this part of the world.
– Jonathan Ellis, Independant Mortgage Broker
We were a group of 4 looking to invest in the UK and we contacted Blue Skies. Matt was extremely helpful and clearly explained all of the options available to us. We were very happy with the service and hope to use Blue Skies again.
– Johan Lam, Airline Pilot, Hong Kong
My husband and I were looking to purchase an investment property to help with our retirement. Blue Skies were able to help us achieve this quickly and with a brilliant return which makes a big difference.
– Mrs Dodds, NHS Clerical Secretary