Case Study
Vestry Offices, Rotherham
Commercial Conversion
Details
Conversion of municipal building into 9 apartments
Project Info
Vestry Offices was built in 1894. It was formerly a municipal building which had been vacant for many years.
The property was later purchased with full planning permission for 7 one-bedroom apartments.
After inspecting the loft and basement, we realised that another two flats could be added, bringing the total to 9 apartments.
Full planning permission was granted for the new design. This brings some much needed affordable housing to the town of Rotherham.
The building has large windows and some of the apartments will have high vaulted ceilings, bringing in lots of natural light.
One peculiar aspect was the two-room cellar in the basement. It didn’t have windows, so it couldn’t be used as a bedroom. The solution was to have a large studio apartment on the ground floor, with stairs down to a kitchen and bathroom in the basement.
Project Type: Commercial to Residential Conversion
Dimensions:
3,600 sq ft.
FINANCIALS:
Purchase: £135,000
Development: £229,830
Other costs: £56,255
TOTAL COSTS: £421,085
Anticipated GDV: £575,000
Anticipated Profit: £153,915
TIMINGS
Start date: Aug 2019
Est. Completion: April 2020
Est. Build Time: 8 months
-> Scroll Down to watch videos of the development as it progressed.
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.