
This property was our first auction purchase. When we viewed this two-bedroom flat we instantly spotted an opportunity to remodel the existing property layout to make the most of under-utilised space by moving the kitchen and creating an extra bedroom.
Bidding at the auction was quite a nerve-wracking experience! Our winning bid came 10K under our budget and we were very happy with the outcome. Completing on the property within 28 days deadline over Christmas was a challenge on its own, but we did it. Our goal was to add value to the property by reconfiguring the layout to maximise the internal area's sense of space, aesthetics and appeal. We've turned the property into a three-bedroom flat and created a better flow of the space.
Purchase £146,500
Renovation works £23,500
Legals and Misc £3,000
End value £225,000
Equity Created: £52,000