13 completed case studies

Real projects. Final figures.

Explore completed title splits, commercial conversions, HMOs, purchase lease options and heavy refurbishments delivered across South West England.

Understanding the figures

Total project cost includes the recorded acquisition and development costs. Completed value is the final recorded valuation. Capital outcome shows the amount recorded as remaining in or released from the project following refinance. Historic results are not a forecast.

Upper High Street completed project

Commercial to high-end HMO

Upper High Street

Commercial space transformed into a high-quality HMO, combining a substantial value uplift with ongoing annual net cash flow.

Purchase / option
£100,000
Total project cost
£481,500
Completed value
£750,000
Refinance
£562,500 at 75%
Capital outcome
£81,000 released
Annual net cash flow
£27,000
Old Exeter Street completed project

Title split

Old Exeter Street

A title-split project that created separate units, increased the completed value and released more capital than the total recorded project cost.

Purchase / option
£215,000
Total project cost
£321,000
Completed value
£480,000
Refinance
£369,600 at 77%
Capital outcome
£48,600 released
Annual net cash flow
£31,800
Glanville completed project

Commercial to residential

Glanville

A large commercial-to-residential conversion producing the highest completed value and annual net cash flow in the current case-study portfolio.

Purchase / option
£620,000
Total project cost
£1,727,121
Completed value
£2,800,000
Refinance
£1,575,000 at 56%
Capital outcome
£152,691 remaining
Annual net cash flow
£124,000
Mantle Street completed project

HMO

Mantle Street

An HMO project where refurbishment and configuration produced a completed valuation substantially above total recorded project cost.

Purchase / option
£100,000
Total project cost
£208,000
Completed value
£450,000
Refinance
£337,500 at 75%
Capital outcome
£130,000 released
Annual net cash flow
£17,528
Springfield completed project

Title split

Springfield

A title split where the completed refinance exceeded the recorded project cost while the converted units continued to generate income.

Purchase / option
£289,000
Total project cost
£415,286
Completed value
£565,000
Refinance
£452,000 at 80%
Capital outcome
£36,714 released
Annual net cash flow
£24,000
Burlington House completed project

Commercial to residential

Burlington House

A conversion project designed to retain strong annual cash flow while recovering most of the capital through refinance.

Purchase / option
£358,000
Total project cost
£549,481
Completed value
£710,000
Refinance
£532,500 at 75%
Capital outcome
£16,981 remaining
Annual net cash flow
£60,000
Warren Road completed project

PLO flat conversion

Warren Road

A purchase lease option and flat-conversion strategy focused on controlling the property, completing works and generating cash flow.

Purchase / option
£300,000 option
Total project cost
£150,000 works
Completed value
Not recorded
Refinance
Five-year option
Capital outcome
£14,400 annual lease payment
Annual net cash flow
£36,000
Pinewood completed project

Title split

Pinewood

A larger title-split acquisition where the completed valuation supported full recovery of the recorded project cost plus released capital.

Purchase / option
£875,000
Total project cost
£1,068,394
Completed value
£1,588,000
Refinance
£1,143,360 at 72%
Capital outcome
£75,000 released
Annual net cash flow
£13,388
Regent Street completed project

Mixed-use title split

Regent Street

A mixed-use title split where refinance recovered almost all recorded project capital while retaining the asset and its cash flow.

Purchase / option
£338,000
Total project cost
£527,737
Completed value
£715,000
Refinance
£524,000 at 73%
Capital outcome
£4,780 remaining
Annual net cash flow
£26,468
Torquay Heights completed project

PLO serviced accommodation

Torquay Heights

A purchase lease option used to control and improve serviced accommodation before the planned purchase and refinance.

Purchase / option
£283,000 option
Total project cost
£400,000
Completed value
£500,000
Refinance
£320,000 at 64%
Capital outcome
£80,000 remaining
Annual net cash flow
£25,000
Dartmouth completed project

Title split

Dartmouth

A South Devon title-split project producing both released capital on refinance and a strong recorded annual net cash flow.

Purchase / option
£350,000
Total project cost
£574,886
Completed value
£875,000
Refinance
£633,207 at 73%
Capital outcome
£58,321 released
Annual net cash flow
£34,554
Mission House completed project

Title split

Mission House

A title-split project retaining a relatively small amount of recorded capital while generating more than £40,000 in annual net cash flow.

Purchase / option
£384,000
Total project cost
£540,925
Completed value
£673,000
Refinance
£502,395 at 75%
Capital outcome
£38,529 remaining
Annual net cash flow
£40,310
Solways completed project

Title split

Solways

A substantial title split where the completed value supported recovery of total project cost, released capital and retained annual cash flow.

Purchase / option
£508,000
Total project cost
£1,003,673
Completed value
£1,690,000
Refinance
£1,117,120 at 66%
Capital outcome
£113,447 released
Annual net cash flow
£41,113

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