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2016 - Grosvenor Road, Watford
2 Bedroom Flat, Living Room, Bathroom, 40 ft Garden & Patio.
A flat with a garden usually big enough for a house.
Directly outside Bedroom 2 for convenient living spaces.
Just off of the living room for a coffee outside.
Karndean floor provides a hard wearing, modern finish with sound absorbing qualities.
A private space in the basement conversion.
Oak worktops with modern appliances and handleless cupboards.
Compact, yet very functional.
Project Details
Purchase Method: Open Market
Purchase Price: £202,500
Sold in 2025: £330,000
Freehold
Bedrooms: 2
Receptions: 1
Bathrooms: 1
Parking: 1
Garden: 40 ft
Purchased at auction in January 2016 after a 20 minute viewing the week before. The property was already divided into 3 flats. This was a 1 bedroom flat with a large basement and lease of just 63 years that needed extending.
The property was not mortgageable at the time of purchase.
We converted the basement coal cellar into a habitable room/bedroom 2 and raised the ground floor joists to increase the basement headroom. The basement received a 10 year guarantee and has natural light from the original lightwell that we improved.
The rest of the flat was refurbished to a high standard with a new kitchen, bathroom and other finishes.
The flat did not sell in June 2016. So, this became an accidental BTL property. It was rented very easily and refinanced to extract 92% of the overall investment costs.
Note:
Further financial information on all of our previous developments is available to investors upon receipt of a signed NDA.