Before renovation the property consisted of:
- Kitchen/ dining room
- Living room
- Two double bedrooms
- Box room
- Shower room
Although this was a good size property, in a great location, it was not achieving its full potential in terms of rental income as the property was beginning to look tired and the space available was not being used effectively. We worked with our in-house Architect and team of local contractors to upgrade the property, maximise use of the available space, and help our client to increase their return on investment.
The renovation work included:
- Building warrant including removing structural walls, adding new structural beams.
- Roofing and structural work to create new Velux windows for additional light in kitchen and bathroom
- Converting the existing living room and box room into an open plan kitchen living area.
- Converting the existing kitchen into a new third double bedroom.
- Reducing the size of largest bedroom to create a new bathroom including shower.
- Redecoration throughout.
- New flooring throughout.
- New furnishings.
- All requirements to meet HMO standards.
The property is now a high quality, three bedroom HMO flat, achieving £1,500pcm, an improved rental yield of 6%.
|Valuation||£250,000 (+ £50,000 cost of renovation)|
Contact us if you would like to discuss maximising the potential of your Edinburgh lettings property.
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