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+ Limelight: case study – 5 to 7-Bedroom HMO

The recent refurbishment of a residential home into a 7-bedroom HMO

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CASE STUDY: 5 TO 7-BEDROOM HMO

The recent refurbishment of a residential home into a 7-bedroom HMO

Pre-Refurbishment

As may be seen from the pre-refurbishment images below, the property was in an advance state of disrepair and in need of complete redevelopment throughout.  As with another of Limelight’s recent refubishment projects, the substantial number of problems with the property might dissuade the casual investor looking for a simple project and even seasoned investors may baulk at the significant structural and cosmetic work required to bring this property to a lettable condition

This said, the property’s size, location and post-refurbishment lettability potential were all positive factors and more than justified the investment required to turn it around.  This property was sourced for a UK investor based in the South and after the preparation and review of an investment brochure in which a number for subjective and objective factors were presented, an investment decision was made and Limelight engaged to refurbish and let the property once complete

PRE-REFURBISHMENT

As may be seen from the pre-refurbishment images below, the property was in an advance state of disrepair and in need of complete redevelopment throughout. As with another of Limelight’s recent refubishment projects, the substantial number of problems with the property might dissuade the casual investor looking for a simple project and even seasoned investors may baulk at the significant structural and cosmetic work required to bring this property to a lettable condition

This said, the property’s size, location and post-refurbishment lettability potential were all positive factors and more than justified the investment required to turn it around. This property was sourced for a UK investor based in the South and after the preparation and review of an investment brochure in which a number for subjective and objective factors were presented, an investment decision was made and Limelight engaged to refurbish and let the property once complete

The Brief

The advance state of disrepair meant a complete refurbishment and modernisation programme throughout was required.  A detailed analysis of the property led to the following work being scheduled:

+ Double glazing throughout the property
+ Full electrical rewire
+ Fitting wired-in smoke alarm and sprinkler system throughout the property
+ Installation of gas central heating through the property including two new gas boilers and HIVE system
+ Connection of gas supply from mains outside property
+ Full damp course and dry rot treatment throughout the property
+ Replacement of rotten floor joists and flooring
+ Repair and replacement where necessary of ceilings throughout
+ Supply and fitting of a modern new kitchen including all appliances, surfaces and floor
+ Fitting of modern plastic water pipes to replace the old lead system
+ Installation of new telephone system including broadband
+ Fitting of 3 new modern bathroom suites
+ Repair and plaster interior walls and replace skirting board and all interior doors to FD30 standard
+ Insulate roof space to the latest standards
+ Fix broken / loose floorboards and fit new carpets throughout

THE BRIEF

The advance state of disrepair meant a complete refurbishment and modernisation programme throughout was required.  A detailed analysis of the property led to the following work being scheduled:

+ Double glazing throughout the property
+ Full electrical rewire
+ Fitting wired-in smoke alarm and sprinkler system throughout the property
+ Installation of gas central heating through the property including two new gas boilers and HIVE system
+ Connection of gas supply from mains outside property
+ Full damp course and dry rot treatment throughout the property
+ Replacement of rotten floor joists and flooring
+ Repair and replacement where necessary of ceilings throughout
+ Supply and fitting of a modern new kitchen including all appliances, surfaces and floor
+ Fitting of modern plastic water pipes to replace the old lead system
+ Installation of new telephone system including broadband
+ Fitting of 3 new modern bathroom suites
+ Repair and plaster interior walls and replace skirting board and all interior doors to FD30 standard
+ Insulate roof space to the latest standards
+ Fix broken / loose floorboards and fit new carpets throughout

The Outcome

The full refurbishment of this property was completed to schedule and budget leaving a modern and highly-lettable HMO.  The property commands rents that are towards the top end that may achieved in the area and was fully let within 2 weeks of completion.  As with Limelight’s other projects all appliances, furniture and fittings have been selected to withstand heavy and sustained use, hopefully leading to minimal property maintenance and cost and high tenant satisfaction

THE OUTCOME

The full refurbishment of this property was completed to schedule and budget leaving a modern and highly-lettable HMO.  The property commands rents that are towards the top end that may achieved in the area and was fully let within 2 weeks of completion.  As with Limelight’s other projects all appliances, furniture and fittings have been selected to withstand heavy and sustained use, hopefully leading to minimal property maintenance and cost and high tenant satisfaction

Accommodation

7 fully furnished and lockable bedrooms were prepared dressed with a range of functional and affordable yet long-lasting furniture, carpets and soft furnishings chosen by the landlord.  A neutral yet welcoming colour scheme was chosen to appeal to male and female tenants, with the end effect a modern living space that tenants can be proud to call home.  As with our other refurbishments, additional plug sockets were included in each room to cope with the demands of multiple appliances.  Freeview TV was also specified in each bedroom

ACCOMMODATION

7 fully furnished and lockable bedrooms were prepared dressed with a range of functional and affordable yet long-lasting furniture, carpets and soft furnishings chosen by the landlord.  A neutral yet welcoming colour scheme was chosen to appeal to male and female tenants, with the end effect a modern living space that tenants can be proud to call home

As with our other refurbishments, additional plug sockets were included in each room to cope with the demands of multiple appliances.  Freeview TV was also specified in each bedroom

Kitchen and Bathrooms

The kitchen was transformed into a fully-functional area complete with all modern electrical appliances (e.g. washing machine, tumble dryer, dishwasher and electrical items).  Storage space was configured to permit each tenant their own cupboard space, while 2 fridge freezers were discretely installed again allowing each tenant their own space.  Microwaves and separate ovens were also specified, allowing tenants to prepare separate meals concurrently to reduce waiting times.  A modern, commercial grade floor was also fitted, with the result a superbly versatile kitchen area that tenants can easily clean and manage

Each bedroom benefits from an en-suite bathroom that is superbly appointed with modern tiling and fixtures.  While there is always the debate over whether it is better to have greater bedroom floor space or an en-suite, if the property is to appeal to male and female tenants then a well-appointed en-suite bathroom if definitely worth considering

KITCHEN AND BATHROOMS

The kitchen was transformed into a fully-functional area complete with all modern electrical appliances (e.g. washing machine, tumble dryer, dishwasher and electrical items).  Storage space was configured to permit each tenant their own cupboard space, while 2 fridge freezers were discretely installed again allowing each tenant their own space.  Microwaves and separate ovens were also specified, allowing tenants to prepare separate meals concurrently to reduce waiting times.  A modern, commercial grade floor was also fitted, with the result a superbly versatile kitchen area that tenants can easily clean and manage

Each bedroom benefits from an en-suite bathroom that is superbly appointed with modern tiling and fixtures.  While there is always the debate over whether it is better to have greater bedroom floor space or an en-suite, if the property is to appeal to male and female tenants then a well-appointed en-suite bathroom if definitely worth considering

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