Pheasant Croft Case Study: A Transformative Success in Smith's Wood, North Solihull

After

Before

Set in the serene suburb of Smith's Wood, North Solihull, we embarked on an ambitious transformation journey. The property, a 3-bedroom, 1-bathroom deceased estate, was spread across three floors and included an integral garage. Purchased for £127.5k, this project is a showcase of our ability to turn a challenge into an opportunity.

Project Details:

Location: Smith's Wood, North Solihull, Birmingham
Property Type: 3-bedroom, 1-bathroom with an integral garage
Purchase Price: £127.5k
Refurbishment Cost: £45k
Purchase Date: 27th March 2020
Completion Date: 20th December 2020

Transformation Highlights:

Despite the challenge of the UK going into lockdown a day after the completion, the transformation proceeded with resilience and innovation. The property, initially not within an Article 4 direction, was successfully converted under permitted development rights, including a change in use classification.

The refurbishment included a meticulous redesign of the existing space, turning the garage and living room into five spacious bedrooms, each with its ensuite. Additionally, a modern kitchen was installed, and the once-tired conservatory was reimagined into a cozy living area, complete with a large screen smart TV.

Financial Success and Valuation:

Today, this property stands as a prime example of strategic investment and effective property management. It generates a remarkable rental income of nearly £35k per annum. In August 2023, a hybrid commercial valuation was applied, estimating the property's worth at £310k. This valuation allowed for £121k to be remortgaged out of the property, effectively leaving no money in the deal – a significant achievement for any property investor.

Conclusion:

This Smith's Wood property transformation is not just a case study of financial success; it's a narrative of overcoming challenges, smart planning, and creative property development. It demonstrates our commitment to unlocking the potential in properties and our expertise in navigating the legal and financial aspects of property transformation. It stands as a testament to our vision of turning spaces into valuable assets and our dedication to achieving exceptional results for our investors.