Address

10 Street Name, City Name

Country, Zip Code

Get in touch

+44 1632 96099

mymail@mailservice.com

Follow us

A logo for bdhomesuk with the letter b and d
6-Bedroom HMO - Medway
Moses Oladeji • 23 January 2025

Home > Projects   >

Northcote Road, Medway


  • Purchase Price: £250,000
  • Revaluation: £390,000
  • Gross Annual Rent: £52,500
  • Gross Yield: 14.0%
  • ROCE: 30.46%      

Challenges


Two flats in a terraced house transformed into an HMO, including a basement conversion:

  • Planning Restrictions: Required full planning approval for the conversion from C3 ( two Flats) to C4 (HMO single property).
  • Basement conversion: Creating a liveable room in the basement that complies with building control regulation/standards.
  • Basement Damp Issue: Tanking of the basement and creating of light well was required by building control.
  • Increased Costs: Tanking, soundproofing, and special insulation of the basement due to damp issues and building control SAP complies.
  • Expert Consultations: Needed an architect and SAP assessor experienced in basement conversion.
  • Time: The building control requirements significantly extends development times, increasing costs.
  • Valuation Risk:  Possibility of undervaluation due to insufficient comparable properties in the area.


    Before Images

Solution


Engaged an experienced architect to navigate the development restrictions effectively.

  • Planning Restrictions: Postpone planning approval for the conversion from C3 ( two Flats) to C4 (HMO single property) until after refinance.
  • Basement conversion: Employed the service of an architect and followed his plan to create a liveable room in the basement that complies with building control.
  • Basement Damp Issue: Our in-house team tanked the internal area of the basement using KA Slurry and Bitumen, and created a 1.8m deep light well.
  • Increased Costs: Unavoidable cost - soundproofed and insulated the basement in-line with building control requirements.
  • Expert Consultations: Commissioned an architect and SAP assessor experienced in basement conversion.
  • Time: Worked with building control to mitigate any delay while complying with their request swiftly.
  • Valuation Risk: Developed the property a great standard that would attract high valuation.


    After Images

Results


A quality 6-bedroom HMO optimising cash flow & quality standards.

Below are some selected pictures showcasing the tasks we executed to create this wonderful product.


At bdHomesUK, we’re always looking for dynamic partners to collaborate with on exciting property development projects. Whether you're an investor, contractor, or industry expert, we offer the opportunity to work together on high-quality co-living spaces that are set to generate strong returns.

Be a partner in something great.


Contact us today to discover how we can collaborate on our next project!

More Projects

A kitchen with a refrigerator , washing machine , oven , sink and sliding glass doors.
by Moses Oladeji 6 December 2024
Rosebank Walk, London project in numbers; Purchase Price: £425,000. Revaluation: £490,000. Gross Annual Rent: £53,136. Gross Yield: 10.84%. ROCE: 16.45%
A kitchen with stainless steel appliances and a black counter top.
by Moses Oladeji 5 November 2024
King Street, Kent project in numbers; Purchase Price: £277,000. Revaluation: £390,000. Gross Annual Rent: £50,340. Gross Yield: 12.91%. ROCE: 23.57%.

Share this project online

Share by: