This property showcases our planning strategy to convert a 3-Bedroom Single Family dwelling to a 5-Bedroom HMO and build a new two-storey 3-Bedroom detached dwelling on the side plot.

Our strategic vision involved converting the main house into a luxurious 5-bedroom all-ensuite House of Multiple Occupation (HMO) through permitted development. In addition, we planned to construct a new, modern 3-bedroom detached house on the side plot.

We aimed for a quick turnaround time to deliver the main house HMO conversion and Planning Application approval for the new build.

We began negotiations for this promising property in September 2022. While waiting for the exchange, we started planning applications for the new house and designed a loft extension for the main house.

In January 2023, we achieved a major milestone when the exchange was finalised and our planning application was submitted on the day of exchange.

Main House
Construction on the main house commenced in February 2023, with the addition of a dormer loft extension and renovations to transform it into a five-bedroom, all-ensuite HMO with a spacious kitchen and dining area. The project was completed in October 2023.

New Build
While planning for the new build house on the side plot of this property, there was a 50 sqm amenities space constraint that is needed to turn the side plot into a 3-bedroom semi-detached family house.

However, we developed a strategic solution by submitting a Planning Application for a 2-bedroom house which includes a spacious study room. Later on, we can convert the study room to an additional bedroom, which enables us to achieve the intended plan of creating a 3-bedroom semi-detached family home.

The planning application for the new build house on the side plot was approved in March 2023.

In June 2023, a builder expressed interest in purchasing the plot with consented planning.

By August 2023, all necessary conditions were discharged for a seamless transition to the next phase.

Our investment in this promising property has yielded impressive returns. Acquired at £450,000.00, the property’s value has soared following our transformative efforts.

The current Gross Development Value (GDV) of the side plot stands impressively at £790,000, and we finalised the sale of the side plot for £256,500, with an overage clause. This clause entitles Cosy Hauz to 50% of the difference if the property is sold at a higher GDV than £650,000, ensuring even more potential for profitability. We estimate that we will receive another £70,000 as a result of the overage clause.

The final GDV for this Property in Pyne Road is an astounding £1,112,000 (including the value of the existing house and side plot), resulting in a remarkable net profit of £456,545.97. This exceptional Return on Investment (ROI) of 337.61% achieved within just six months exemplifies our commitment to delivering exceptional results and solidifies this project as a testament to our expertise and success in the property market.