6 Units | Sell For Profit Strategy
This development scheme is located in the popular area of Stroud Green, the site is conveniently situated for transport links with 5 overground and underground stations located within approximately 1 mile, all offering regular services into Central London making it an ideal commuter location.
The proposed exit strategy is to sell the units on the open market, with sales expected to begin 3-6 months before the completion of the construction works.
The properties will be sold on the open market in order to achieve the exit and subsequent development profits.
The apartments will be marketed with local estate agents, with the target market being a mixture of owner occupiers, first time buyers, and single let landlords.
Based on sold comparables we expect to be able to sell the properties between a range of £650,000 - £800,000.
These sales estimates have been supported by appraisals from both Foxtons and JLL.
|Unit||Type||Area||Proposed Price||Sale Price||Uplift||Status|
|(35a) 1||2 Bed||77.00m2||£750,000||£750,000||0.0%||Available|
|(33a) 2||2 Bed||69.00m2||£750,000||£750,000||0.0%||Available|
|(35b) 3||2 Bed||60.00m2||£650,000||£650,000||0.0%||Available|
|(33b) 4||2 Bed||69.00m2||£675,000||£675,000||0.0%||Available|
|(35c) 5||2 Bed||58.00m2||£650,000||£650,000||0.0%||Available|
|(33c) 6||2 Bed||62.00m2||£675,000||£675,000||0.0%||Available|
The above table shows the original proposed price, forecasted as part of our investment memorandum, and the actual sales price. The uplift column identifies whether we sold the dwelling for more than originally forecasted. On average, for this particular development, we have achieved an uplift in sales values of 0.0%
The photos show the condition of the property before construction work commenced.
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