THE PROJECT
We acquired dilapidated commercial property at an auction.
The Project was to convert 5,000 sq ft of disused bakery floor into a fully compliant HMO.
South Wimbledon is affluent location and we saw great potential in redevelopment of the property.
THE SOLUTION
Trial excavations along foundation footings were carried out to support engineering calculations into load bearing capacity HMO floor would be subjected to by increased occupancy levels.
To minimise in-situ works, structural steel fabrication was carried out at Contractor’s facility delivering pre-assembled modules for splicing and installation.
All utilities were replaced and capacity upgraded to cater to increased demand.
THE BENEFITS
HMO improved Asset yield four fold. Cost of construction was less than first year’s HMO revenue bearing in mind that HMO occupies one, out of three floors.
The property undergone structural and design transformation and yield improvement triggered substantial increase in equity value.
Changes in use class opened numerous investment opportunities as well as additional Lease options.