The Grosvenor Revival
This project has entered the legal process, a block of 5 flats.
A building, lacking planning approval for use as five self-contained flats, our power team have started the process to obtain a Lawful Development Certificate.
Purchase Price:
£330,000
Refurbishment Works:
£100,000
Refinanced Value:
£650,000
Have a similar project in mind?
Contact usThe challenge with this property was that it lacked a Lawful Development Certificate for the use of the building as separate flats.
We have strategically agreed to use exchange with delayed completion (on the condition of obtaining the LDC) for this project. Upon exchange, we would have full, unconditional access to the entire building to carry out the refurbishment works while our planning consultant progressed the planning application. The advantage of doing this meant that we not only saved thousands of pounds on financing the purchase, but we could also complete works, use the title split strategy, and exit onto individual buy-to-let mortgages.
We specialise in making a house a home
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