ROI: 90% (based on Net Rent / refurb)
This property is within Dunkirk Nottingham; it again falls within the Nottingham city council and therefore article 4. It’s a street away from the university of Nottingham main campus and the tram line. Its 10 minutes walk from the city center too meaning all amenities and large employers are close by.
This property was built circa 1920, it’s a traditional semi detached property, when we took it on it had 4 let able rooms, by moving the bathroom and applying for a regularization of the loft conversion through the council we were able to utilize the whole house and create 5 letable rooms with 2 bathrooms.
We took this property on via a Rent to rent contract, as the refurb was fairly extensive we requested that the vendor contribute to the refurbishment to make the deal stack, there contribution totaled £10,000 in the end. This contract was taken out on a 5-year term.