Refurbishment, 3 bedroom terrace house
Valuation at completion: £1,650,000
Purchase price: £790,000
Purchase & professional costs: £35,000
Development costs: £242,500
Added value: £583,000
Gross margin: 55%
Purchased at auction in February 2013 a derelict house in Balham. The property has been in probate for 30 years and was for the large part falling down. Originally 1400 sqft the property was renovated and extended to create a 2250 sqft; five bedroom; three bathroom family home.
Works included extending the property into and replacing the roof; relacing the bay to the from that had subsided, removing and renovating all internal doors; removing all floors and internal walls, strengthen and repairing external walls and laying a new insulated slab to the ground floor. Additionally we extended to the rear at ground floor level and installed underfloor heating through out the building. Finishes included the original re-furbished doors and bespoke fitted joinery to create adequate storage for a family.