Purchase at Auction
16 Conway Road, Luton, Bedfordshire,
LU4 8JA
VACANT - Freehold Semi Detached Building
£160,000+
Key Features
- Ground Floor - Two Rooms, Kitchen, Shower Room, Utility Room
- First Floor - Four Rooms, Two Bathrooms
- Second Floor - Three Rooms, Bathroom
- Rear Garden
- GIA approximately 220 sq m (2,368 sq ft)
- Luton Rail Station is approximately 1.2 miles to the south east
Accommodation and Tenancy Schedule
| Floor | Accommodation | Approx GIA | EPC | Council Tax Band | |
|---|---|---|---|---|---|
Ground
First
Second
|
Two Rooms, Kitchen, Shower Room, Utility Room
|
220 sq m
|
2,368 sq ft
|
D
|
D
|
Four Rooms, Two Bathrooms
|
|||||
Three Rooms, Bathroom
|
|||||
Acquisition Cost
| Purchase Price | £300,000 |
| Stamp Duty | £18,000 |
| Agent's Fee (1.5%+vat ) | £6,600 |
| Legal Fee | £5,400 |
| Misc |
£3,600 |
| Total Acquisition Cost | £333,600 |
Cash Investment Required
| Cash Purchase | £300,000 |
| Stamp Duty | £18,000 |
| Agent's Fee (1.5%+vat ) | £6,600 |
| Legal Fee | £5,400 |
| Consultant Fee (Approx) | £10,000 |
| Misc | £3,600 |
| Total | £343,600 |
Profit
| Profit (Estimated) | |
| GDV | £825,000 |
| Acquisition costs | £333,600 |
| Development Costs | £145,200 |
| Profit | £346,200 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £343,600 |
| Profit Earned | £346,200 |
| Total ROI | 103.8% |
| Profit for JV Partner (50% share) | £173,100 |
GDV Appraisal
| Units Type (Flats) | Units |
|
Ground Floor - Two Rooms |
02 |
|
First Floor - Four Rooms |
04 |
|
Second Floor - Three Rooms |
03 |
| Total Units | 09 |
GDV Appraisal continued
| Gross Development Value | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 02 | Ground |
Two-Bedroom |
80 | £300,000 | |
| 04 | First |
Four-Bedroom |
80 |
£300,000 |
|
| 03 |
Second |
Three-Bedroom |
60 |
£225,000 |
|
| Total: | Sale@ £3,750/m2 | 220 | £825,000 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | 5% of Construction Cost | £5,500 |
| Professionals / Architect | 2% of Construction Cost | £2,200 |
| Construction / Refurb | Collective Build cost | £110,000 |
| Insurances | For building & Construction | £3,300 |
| Section106 / CIL | Nil | £0 |
| Inteste rolled up costs |
15% | £18,150 |
| Contingency | 5% of Construction Cost | £6,050 |
| Total | £145,200 |
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.