Commercial to Residential Conversion — Croydon
Property Investing #50
George Choy & Sarah Choy | 31 January 2020
ur of a commercial to residential conversion in Croydon – in progress.
What exit do you think Tony should take? What would you do if it was your development?
- Sell the whole development of 6 finished flats
- Sell the apartments individually to private buyers
- Keep the development and rent out as Buy-to-Let
Let me know in the comments at the bottom of this page.
| Costs £ | |||
| Plot | 450k | ||
| Development cost | 550k | ||
| Total costs | 1 million | ||
| Sale prices | Apartments | Value | GDV £ |
| Studio | 2 | 220k | 440k |
| 1-bed | 2 | 250k | 500k |
| 2-bed | 2 | 340k | 680k |
| Total | 6 | 1.620 million | |
| Rental Income per month | Apartments | Rent pm | Total |
| Studio | 2 | 650 | 1,300 |
| 1-bed | 2 | 1,200 | 2,400 |
| 2-bed | 2 | 1,500 | 3,000 |
| Total | 6 | 6,700 | |
| Rent Per Annum | 80,400 | ||
This week we update on one of the pensions we are transferring into our SSAS.
Sarah talks about what you need to consider when remortgaging a BTL.
It is also our 1 year anniversary of starting this vlog – Yay!
Stay safe, George & Sarah Choy
Property Investors and Authors of RETIRE NOW! Your Blueprint to Financial Freedom Through Property
Commercial Property Training
Commercial property can provide a HUGE return on your investment, with passive income and long tenancies of up to 15 years. Just buy and forget.
The Commercial Portfolio Building course will enable you pick up distressed commercial assets at 10 – 20% of build cost. We then teach you to line up a future profitable exit, by providing homes for high street brands.
