Property opportunities – refurbishments
Some interesting properties appear on the market from time to time, here are a couple of interesting properties the acorn.finance team have spotted over the last couple of weeks; Here at acorn.finance we love helping property professionals, both experienced and aspiring to achieve their dreams. We have access to more than two hundred lenders with differing specialisms. That means that we’ll help you to find the best buy to let deal to grow your portfolio or get you started with refurbishment funding of up to 90% of the purchase price of a unit. You don’t have to be spending £2.5m or buying an old manor house, acorn.finance have worked with everything from terraced houses and single apartments through to commercial and large mixed investments. Our experts will take the time to understand your needs and longer term ambitions before partnering you with a lender who perfectly fits and will work with you for a prosperous future
£2.5m for a “crumbling one-bedroom property”?
Rightmove are listing this property from Lurot Brand – described as “beautifully derelict” the house is in need of total and complete renovation – probably removing everything behind the façade and rebuilding from scratch.
But £2.5m for a renovation project?
It’s all about location, location, location for this one;
Pindock Mews connects Warwick Avenue and Castellain Road and is comprised of a mix of large residential mews houses and smaller quality business premises, predominantly in the creative sector. It has also had its fair sprinkling of celebrity residents over the years including musicians like Boy George and Marilyn as well as Janet Street Porter, Tony James of Sigue, Sigue Sputnik but none so famous, or even infamous, as The Sex Pistol’s late front man Sid Vicious and his girlfriend Nancy Spungen.
Is it worth it?
A property like this for £2.5m doesn’t come up every day but the value post refurbishment could easily reach £4m, after a build cost of only £700k. I’ll let you judge the rest for yourself.
The Manor that time forgot
At the other end of the scale is this classic 18th century manor house in Stourbridge – at a bargain price of £350,000.
How is that possible?
This 4 bedroom manor, with it’s palatial kitchen and 49 seat private cinema (yes, really) is slap bang in the middle of a suburban housing estate!
£350,000 – seriously?
Again – it’s all about location, location, location and the setting here is probably not doing the sellers any favours. It’s got to be worth a look though – again, it’s on Rightmove – of course.