Purchase at Auction
Block B 33-49 Deptford Bridge, London SE8 4HH
Roof Space Development Opportunity with Planning Permission Granted
Planning granted for 2x 1 bedroom flats (see below)
Offered with Full Vacant Possession
£90,000+
Key Features
- Roof Space Development Opportunity with Planning Permission Granted
- Planning granted for 2x 1 bedroom flats (see below)
- Total proposed accommodation 99.48 sq m (1,071 sq ft)
- Offered with Full Vacant Possession
The property comprises a 999 year leasehold interest of the roof space. Planning permission is granted for the construction of a single storey roof extension to provide a new 3rd floor of 2x 1 bedroom flats of 533 & 538 sq ft respectively
Acquisition Cost
| Purchase Price | £135,000 |
| Stamp Duty | £6,750 |
| Agent's Fee (1.5%+vat ) | £3,630 |
| Legal Fee | £2,430 |
| Misc |
£1,620 |
| Finance Cost for 12 months |
£13,163 |
| Total Acquisition Cost | £162,593 |
Cash Investment Required
| Cash Deposit 35% | £67,500 |
| Associated Acquition costs | £14,430 |
| Interest if Retained | £13,163 |
| Mobilization fund | £20,000 |
| Professionals / B.R / Structural / QS / MS etc. | £6,750.00 |
| Total | £121,843 |
Profit
| Profit (Estimated) | |
| GDV | £646,750 |
| Development cost | £357,603 |
| Acquisition Cost | £162,593 |
| Total Cost | £520,195 |
| Gross profit | £126,555 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £121,843 |
| Profit Earned | £126,555 |
| Total ROI | 103.9% |
| Profit for JV Partner (50% share) | £63,278 |
GDV Appraisal
| Units Type (Flats) | Units |
|
Roof Space Development (2x 1 bedroom flats) |
02 |
| Total Units | 02 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 02 | Roof Top |
Roof Space Development |
100 | £646,750 | |
| Total: | Sale@ £6,500/m2 | 100 | £646,750 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount |
| Legals | 5% of Construction Cost | £13,188 |
| Professionals / Architect | 2% of Construction Cost | £5,275 |
| Construction / Refurb | Collective Build cost | £263,750 |
| Insurances | For building & Construction | £7,913 |
| Section106 / CIL | Nil | £9,453 |
| Inteste rolled up costs |
15% | £43,519 |
| Contingency | 5% of Construction Cost | £14,506 |
| Total | £357,603 |
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.