Case Study: Acton HMO

Our client on this project were made up of 3 friends in their 20’s looking to come together for their first property investment venture together. We sourced, designed, developed, and now manage this property on behalf of our client. We assisted them to acquire a freehold mixed-use building which comprises of a ground floor shop & flat (both sold on long leases) and a first floor self-contained flat.

The first floor has been converted from a 2-bedroom flat into a 5 bedroom ensuited co-living space inclusive of a loft conversion and finished to a very high standard before being refinanced and let out providing cash flow.

We at Savoys Properties provide boutique style, all inclusive, affordable co-living house share accommodation. In addition, we specialise in providing excellent self-contained properties and high-end HMO. We operate in London, and the Home Counties.

We refurbish and manage properties across the UK to provide high quality homes for professional tenants with an HMO specialism. We have developed the necessary experience, team and tools to effectively execute projects & we manage the entire process, from property sourcing through to project management, refurbishment and management post-completion.

How We Helped

? Once we understood our clients financial position, we were able to effectively source a property suited to their criteria.

? This property benefitted from a lower SDLT due to it being mixed use, where we managed to save ￡10,000 in comparison to buying a residential property.

? We undertook an initial feasibility to convert a 2-bedroom flat into a 5-bedroom HMO

? We had the full legal pack checked and reviewed by our solicitors

? We provided a fixed cost for the build before the property was purchased

? We assisted in helping the client secure finance with the help of our specialist broker

? We provided full access to our power team

? We helped provide the “experience” our clients were lacking in order to secure the funding

? We produced a comprehensive report detailing the full schedule of works and comparables to assist the valuers

? We were able to obtain a pre-commercial valuation day-1 before we started any works on the property which came in at ￡625,000

? We managed the entire design and planning process

? We estimated a build time of 6 months but completed in 5 months on budget

? Once the build was complete we marketed the property and had all 5 rooms fully let within 2 weeks

Purchase Price

￡319,000

Proposal for Works

A full renovation, including additions into the loft of the property, was carried out to create five, high-quality, double bedroom all with en-suites, a beautifully designed kitchen space and communal area to encourage co-living and friendships amongst our clients.

Location

Situated within the West London Borough of Ealing, this property is located a short walk from Acton Main Line Station and slightly over 2 miles from junction 1 of the M4 motorway. North Acton Underground Station (zones 2 & 3 & also a Crossrail Station) is less than half a mile away, which is served by the Central line, providing frequent services to the West End and the City. Park Royal Underground Station (zone 3) is also nearby, which is served by the Piccadilly line with regular services to Heathrow Airport.

The site is well positioned for popular destinations including Knightsbridge, Notting Hill and Westfield London with bars, a cinema, restaurants and a gym. There is a Tesco Express less than half a mile from the property, and there is also a Little Waitrose (just over 1 mile away) and an Asda superstore (less than a mile away) within easy reach.

North Acton Underground Station (zones 2 & 3) is less than half a mile away, which is served by the Central line.

Railway stations: There are 3 stations within walking distance – Acton Main Line is approximately 0.1 miles away (3 min walk) – Crossrail Station

Motorway Junctions: M4 J1 is approximately 2.1 miles away.

Flights: London Heathrow Airport is the closest airport (9.1 miles).

There are 2 hospitals within walking distance – Hammersmith Hospital is around 1.3 miles away (25 min walk) and Queen Charlotte’s Hospital is about 1.3 miles away (25 min walk).

Schedule of Works

Schedule Of Works

A total cost for the project was ￡125,000.

Large Body of works

? Loft Construction with Rear Box Dormer

? Carpentry Works

? Electrical Works

? Plumbing & En-Suite Works

? Kitchen and Utility Work

? Decorating Work

? Underground Drainage

Before Pictures

During Construction

Completion Photos

Financials

Design & Build

At Savoys we meticulously plan and manage the entire planning process from Prior Approval to a complete Planning Application on your project. Our specialist team can fully manage any project from start to finish, from a light refurbishment to an HMO conversion or commercial to residential. We have a vast amount of experience in designing and building all types of property projects, and with our expertise, we aim to maximise the end value. We source properties tailored to your specification, whether for an HMO property or a commercial to residential conversion.

Management

With over 500 rooms in our managed portfolio, we have a real edge in maintaining no/minimal voids through our effective property management strategy. We go the extra mile, and it is evident in the marketing strategy we deploy not only on this project but across the board. We use a professional interior designer to optimise the space and stage with soft furnishings. We also conduct a 360/3D Virtual Tour and professional photography to attract the best clientele.

If you are interested in working with us and building a portfolio, contact our Head of Developments Hardeep at [email protected]

For further information about how you can access this new and exclusive product, please contact our team on [email protected] or through CPC Finance at [email protected].

You can connect with the Savoys Properties Team on:

Web: ???????????????????https://www.savoysproperties.co.uk/

Instagram: ?????????https://www.instagram.com/savoysproperties

?Linkedin: ????????????https://www.dhirubhai.net/company/savoys-properties/

Twitter: ??????????????https://twitter.com/savoys_prop

Facebook: ?????????https://www.facebook.com/SavoysProperties

Schedule a call here: https://calendly.com/hardeep-savoys/30min?month=2021-12