+ Limelight: case study – 3 to 6-bedroom hmo

The refurbishment of a property in a state of disrepair but with significant potential into a high standard 6-bed HMO

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CASE STUDY: 3 TO 6-BEDROOM HMO

The refurbishment of a property in a state of disrepair but with significant potential into a high standard 6-bed HMO

Pre-Refurbishment

The property was originally a 3-bedroom family home located on a main road approximately 0.5 miles from the centre of Connah’s Quay and within easy reach of Deeside’s industrial zones (10 mins), Chester (15 mins) and the Wirral (20 mins).  Approximately 10 years ago, an additional one-room structure had been erected to the rear of the house to accommodate an elderly relative that included its own bathroom and external access door.  Downstairs there were 2 further large reception rooms and a good sized kitchen / dining area

Upstairs there were 2 good sized bedrooms and a further, smaller bedroom to the rear.  There was also a shared bathroom with bath, shower and toilet.  This combination of factors – adaptable internal layout, structure to the rear, capacity to make 6 lettable bedrooms, 2 good-sized separate bathrooms and geographical location – made it an ideal candidate for conversion to a modern HMO

PRE-REFURBISHMENT

The property was originally a 3-bedroom family home located on a main road approximately 0.5 miles from the centre of Connah’s Quay and within easy reach of Deeside’s industrial zones (10 mins), Chester (15 mins) and the Wirral (20 mins).  Approximately 10 years ago, an additional one-room structure had been erected to the rear of the house to accommodate an elderly relative that included its own bathroom and external access door.  Downstairs there were 2 further large reception rooms and a good sized kitchen / dining area

Upstairs there were 2 good sized bedrooms and a further, smaller bedroom to the rear. There was also a shared bathroom with bath, shower and toilet. This combination of factors – adaptable internal layout, structure to the rear, capacity to make 6 lettable bedrooms, 2 good-sized separate bathrooms and geographical location – made it an ideal candidate for conversion to a modern HMO

The Brief

Although the property had been lived in prior to purchase it had been somewhat neglected and was in need of modernisation throughout.  Having conducted a detailed analysis of the property with the desired end state in mind, the following refurbishment work was programmed:

+ Double glazing throughout the property
Full electrical rewire including specifying additional sockets in all rooms
Fitting wired-in smoke alarm and sensors throughout the property
Installation of gas central heating through the property including new gas boiler and HIVE system
Connection of gas supply from mains outside property
Full damp course throughout the property
Refit full kitchen including all appliances, surfaces and floor
Fitting of modern plastic water pipes throughout the property where feasible
Installation of new telephone system including fibre broadband
Refit 2 bathrooms with modern appliances
Repair and re-skim interior walls and replace skirting board and all interior doors
Insulate roof space to the latest standards
Fix broken / loose floorboards and fit new carpets throughout

THE BRIEF

The property although lived in had been neglected and was in need of modernisation throughout. Having conducted a detailed analysis of the property, the following work was scheduled:

Double glazing throughout the property
Full electrical rewire including specifying additional sockets in all rooms
Fitting wired-in smoke alarm and sensors throughout the property
Installation of gas central heating through the property including new gas boiler and HIVE system
Connection of gas supply from mains outside property
Full damp course throughout the property
Refit full kitchen including all appliances, surfaces and floor
Fitting of modern plastic water pipes throughout the property where feasible
Installation of new telephone system including fibre broadband
Refit 2 bathrooms with modern appliances
Repair and re-skim interior walls and replace skirting board and all interior doors
Insulate roof space to the latest standards
Fix broken / loose floorboards and fit new carpets throughout

The Outcome

Refurbishment of this property was completed on schedule and within budget. The result is a modern, high-performing HMO that is able to command among the highest per-room rental prices in the area and has enjoyed a 90+% occupancy rate. Due to the careful selection of appliances, furniture and fittings that will withstand heavy use property maintenance has been minimal and the landlord is receiving a ROI of approximately 20%

THE OUTCOME

Refurbishment of this property was completed on schedule and within budget. The result is a modern, high-performing HMO that is able to command among the highest per-room rental prices in the area and has enjoyed a 90+% occupancy rate. Due to the careful selection of appliances, furniture and fittings that will withstand heavy use property maintenance has been minimal and the landlord is receiving a ROI of approximately 20%

Accommodation

Each of the 6 bedrooms was prepared with a range of functional and affordable yet long-lasting furniture, carpets and soft furnishings. A modern and neutral yet welcoming colour scheme was chosen to appeal to male and female tenants. Freestanding furniture was preferred to enable tenants to change room layout to suit their requirements

Extra plug and Freeview aerial sockets were specified throughout the property to meet the demands of modern living

ACCOMMODATION

Each of the 6 bedrooms was prepared with a range of functional and affordable yet long-lasting furniture, carpets and soft furnishings. A modern and neutral yet welcoming colour scheme was chosen to appeal to male and female tenants. Freestanding furniture was preferred to enable tenants to change room layout to suit their requirements

Extra plug and Freeview aerial sockets were specified throughout the property to meet the demands of modern living

Kitchen and Bathrooms

The kitchen was transformed into a joint preparation and seating area complete with washing machine, tumble dryer, hob and electrical appliances. Sufficient storage space was specified to allow a large cupboard per tenant and 2 fridges and a freezer were discretely installed in the hallway immediately outside the kitchen

Among the biggest changes were to the bathrooms, which were transformed into modern and functional rooms each with shower, toilet, hand basin, mirror and towel rail / radiator. Storage for towels and toiletries was also provided. To save cost, the original tile floor in the downstairs bathroom was retained and cleaned, while the same hard-wearing flooring fitted to the kitchen was also used upstairs

KITCHEN AND BATHROOMS

The kitchen was transformed into a joint preparation and seating area complete with washing machine, tumble dryer, hob and electrical appliances. Sufficient storage space was specified to allow a large cupboard per tenant and 2 fridges and a freezer were discretely installed in the hallway immediately outside the kitchen

Among the biggest changes were to the bathrooms, which were transformed into modern and functional rooms each with shower, toilet, hand basin, mirror and towel rail / radiator. Storage for towels and toiletries was also provided. To save cost, the original tile floor in the downstairs bathroom was retained and cleaned, while the same hard-wearing flooring fitted to the kitchen was also used upstairs

Summary

This property demonstrates the full range of services that Limelight offer investors looking to refurbish part or whole of a property or prepare rooms and communal areas for immediate let. If you require similar services or simply wish to discuss property letting, management or investing across the region then please get in touch. I look forward to speaking with you

Download a PDF of this case study below

SUMMARY

This property demonstrates the full range of services that Limelight offer investors looking to refurbish part or whole of a property or prepare rooms and communal areas for immediate let. If you require similar services or simply wish to discuss property letting, management or investing across the region then please get in touch. I look forward to speaking with you

Download a PDF of this case study below

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