City Road
West End, Dundee
Our client based in the Czech Republic is an experienced property investor and his motivation was all about the yield and location. He was also keen to keep his up-front costs to a minimum.
At the time of sourcing, City Road required a full renovation which included a full rip out of the existing interior, fitting a new kitchen and bathroom, electrical work, new central heating system, full décor, flooring and furnishing.
We had initially looked at changing the layout to create a 3 -bedroom HMO. A closer look indicated if we kept the original layout, the yield remained as high and kept the outlay within budget. This also meant that there would be a saving on lending fees and running costs making the overall investment more attractive.
Here are the numbers:
Purchase Price: £103,000
Refurbishment: £29,000
Rent: £1,100 per month
Yield: 10%
Refurbished Value: £130,000
Total outlay (cash investment): £220,996
Total Outlay (with lending at 75% LTV): £65,258
*outlays include all legal costs, fees, LBTT & furnishings
Watch our before and after video showcasing the remarkable transformation transformation of this property.
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