PROJECT – 57 RICHMOND ROAD, NEWPORT

LOCATION

57 Richmond Road, Newport
4 Bedroom Terraced
Standard Construction

Acquisition Figures

Purchase Price: £130,000
Refurbishment: £25,000
Buying/Selling Costs: £7,000

Exit Figures

Resale Price: £220,000
Profit: £50,000

This property is situated in Newport, South Wales. The owner wanted to maximise their resale but was not in a position to fund the refurbishment. We joint ventured with the vendor, funded and undertook the refurbishment and split the profits 50/50.
This property was previously used as residential, then doctors offices and required modernisation throughout. The works included electrical wiring, demolition of walls to re arrange door space, re-designing the internal walls to seperate the bathroom from the rear exit,plastering throughout, carpentry works, new kitchen, new bathroom, tiling, decoration and flooring throughout. The modernisation brought this property back to life and sold within the first few viewings of going to market.