The Property
With 20 years of experience, this ‘Homes Under the Hammer’ TV star knows a thing or two about property development. There was fierce competition from several developers for this 3 bed semi in Surrey when it went on the market after probate, but our client was lucky enough to secure the property for £426k.
The property was dated and in poor condition, needing a complete refurbishment from top to bottom, including a new kitchen and bathroom, new boiler, central heating, flooring and redecoration throughout. Works were estimated at £20k (due to receiving a local show home kitchen for free) and expected to take 6 weeks to complete.
The Assessment
We have lent to this client previously and built up a good relationship with him. He managed to pay his original loan back 2 months early and this first project with us was completed to a high standard.
As well as appearing on ‘Homes Under the Hammer’, this seasoned property developer has converted a pub into flats and over a 20 year period, has bought and refurbished a total of 25 properties.
We had every confidence that our client would do a good job on this property and achieve a sale with no issues, as similar properties were in short supply on the market.
The Transformation
The property has been completely transformed and is practically unrecognisable. Just compare the before and after photos showing the stunning new kitchen!
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Kitchen Before Kitchen After
The Result
After a complete refurb, the modernised property was converted to a 4 bedroom, 2 bathroom stunner. It’s currently on the market and our client is looking at netting an impressive gross profit.
Looking for a property loan based on market value? An Apex Bridging loan could be the solution. Speak to one of our knowledgeable team on 01509
345 007 or email enquiries@apexbridging.co.uk for more information.