At Cosy Hauz, we pride ourselves on transforming underutilised properties into high-quality homes that not only add value to the market but also enhance communities. One of our standout projects is the Windermere Road development in Streatham, Southwest London. This is a project that exemplifies our expertise as a leading HMO developer in London.
The Background
This property was sourced through our Direct to Vendor (DTV) strategy, giving us a competitive edge and enabling us to move swiftly with the acquisition. Streatham is a well-connected and vibrant area in Southwest London, bordering the affluent neighbourhood of Wimbledon. With excellent schools, supermarkets, and transport links nearby, it is a location that combines convenience with strong tenant demand.
The property itself was in poor condition at the time of purchase. However, we saw the potential to reimagine it into something extraordinary: a modern, purpose-built 8-bedroom all en-suite HMO that would appeal to professionals seeking high-quality shared accommodation.
Planning Strategy
Navigating planning in London requires both creativity and expertise. Merton Borough has strict regulations on large HMOs, which meant we had to approach the project strategically. Rather than applying directly for a large HMO, we first converted the house into two self-contained flats. Then, using Permitted Development (PD) rights, we successfully transformed each flat into a 4-bedroom (C4) HMO.
This two-step strategy allowed us to overcome planning restrictions while still delivering a high-standard development that maximised the property’s potential. It is a perfect example of how a skilled HMO development company in London can create value through smart planning and innovative solutions.
Timeline and Financial Success
Speed and efficiency are at the heart of our approach. The Windermere Road project was purchased in April 2022, and within just 12 months, the entire process—from planning and construction through to sale—was complete.
Financially, the project delivered outstanding results:
- Purchase price: £550,000
- Additional costs (legal, finance, construction, etc.): £200,000
- Gross Development Value (GDV): £1.3 million
- Total profit: £350,000
The impressive £350,000 profit was achieved in only a year, showcasing the strength of combining market knowledge, strategic planning, and efficient project delivery.
Award-Winning Results
The success of Windermere Road has been recognised at the highest level within the property industry. The project won multiple prestigious awards, including:
- HMO Awards 2022 – Best Residential to HMO Conversion
- Property Investor Award 2022 – HMO Property Deal of the Year (over 6 rooms)
- Property Developer of the Year
These accolades highlight not only the financial achievements of the development but also the quality and innovation that Cosy Hauz brings to every project.
Conclusion
The Windermere Road project is a testament to what can be achieved with vision, planning expertise, and a deep understanding of the London property market. By converting a rundown property into a high-standard HMO, we created a development that has proven to be both commercially successful and industry recognised.
If you are seeking a trusted HMO development company in London to help you unlock the full potential of your property, Cosy Hauz can provide the expertise, strategy, and results you need.
Reach out to us here to speak with our team.
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