Purchase Price: £625,000
Fees: £15,000
Stamp Duty: £21,000
Cost of Refurb: £190,304
Expected Sale Price: £1,341,000
Profit: £450,000
This has been our largest completed project to date. We applied for planning permission to change the use from residential to an 8-bed commercial care home. The double garage was converted to 2 further bedrooms, a first floor extension created another bedroom and an office and a ground floor reception room became another bedroom, all of which are en-suite. We have a care provider who will rent the house off us and have a lease for 25 years. We are currently in the process of obtaining the required Registration and the care home should be up and running in January 2018.
