Morgan Grove Case Study: A Profitable Transformation in Birmingham

After

Before

Creating Value in the Heart of Birmingham: Morgan Grove, set in the bustling city of Birmingham, stands as a testament to our commitment to maximizing property potential. This 3-bedroom terraced house, acquired in 2020, was creatively transformed into a 5-room all-ensuite residence for working professionals. Nestled within 10 minutes of Birmingham Business Park and Airport, and exempt from Solihull Council's Article 4 Direction for HMOs, Morgan Grove exemplifies our strategic approach to property development.

Project Details:

Location: Birmingham, close to Business Park and Airport
Property Type: 3-bedroom terraced house, converted into 5 ensuite rooms
Purchase Price: £140,000
Refurbishment Cost: £40,000
Purchase Date : 27th March 2020
Completion Date : 10th August 2020

Transformation Highlights:

The transformation of Morgan Grove was a journey of meticulous planning and execution. The property's strategic location and exemption from certain planning permissions provided an ideal canvas for this project. We converted the existing structure into five high-quality ensuite rooms catered to working professionals. The addition of a fully equipped kitchen and an open-plan co-living space enhanced the property’s appeal. The focus was not only on functionality but also on creating a modern, comfortable living environment.

Financial Success and Valuation:

When launched Morgan Grove generated a substantial rental income of £2,475 per month, translating to an annual income of £29,700. The monthly expenses, including mortgage, utilities, and furniture lease, total £1,165, resulting in a net profit of £1,310 per month. The property’s impressive ROI stands at 18.85%, with a net yield of 11.22%. In 2023, a hybrid valuation placed Morgan Grove’s worth at £300,000, allowing us to remortgage and extract £111,000 from the deal, achieving an infinite ROI.

Conclusion:

The transformation of Morgan Grove is more than just a financial triumph; it’s a showcase of overcoming obstacles, strategic foresight, and innovative property development. This project highlights our expertise in enhancing property value and our dedication to delivering outstanding results for our investors. Morgan Grove is a shining example of our vision to transform spaces into highly valuable assets and create thriving communities for residents.