Maximising A Landlord’s Return on Refurbishing an Ex-Local Authority Property in SW4
A four-bed apartment in the heart of Clapham modified from a home to a rental in 2021
Rent achieved: £500 pcm above estate agent valuations.
The brief: Elevate the Space, Easy to Maintain Rental, Biggest Yield
To make the property easier and cheaper to maintain even when put to higher usage as it was converted to a rental property. The clients also wanted to achieve the highest possible rent while investing economically and sensibly where repairs and alterations were needed or would add value. Ideally they wanted to attract young professionals who would be house proud.
Clever Use of Space in Kitchen to Create More Storage
A new bespoke kitchen was designed and installed to maximise a small space.
- The oven was stacked on the dishwasher in the L to use a hidden corner without impeding light.
- A floor to ceiling pull-out larder was installed along with pan drawers beneath the hob to maximise storage space.
- A drawer in the kick board with soft push opening was made to house the dog food and water bowls without occupying permanent floor space.
- Wall units were fitted with vertical opening hinges so as not to enfringe on standing space when open.
- The change of a standard door to a pocket fire door meant that again floor space was saved.
- A mini breakfast bar was fitted which was a stroke of genius in such a small place.
Separate Bathroom & Toilet with Easy Access Maintenance Hatches
The toilet was made standalone by installing a side-by-side toilet and basin so that it can be used without needing access to the shower for washing hands – ideal for higher occupancy.
The shower was raised on a platform for easy access in the case of leaks. This is especially useful as the property is located on the third floor so any leaks would cause damage not only to the property itself but also potentially to downstairs apartments.
Stylish and Spacious Communal Living Room
Brick wall was exposed for a high end feel.
A slim table and chairs were added to give a dining space and to optimise use of the space.
Multifunctional Space in Bedrooms
All bedrooms were fitted with bespoke cupboards and shoe storage. Murphy beds (aka drop down beds or wall beds) provide a multi-use space perfect during the end of lockdown with the majority working from home – without being on each other’s feet or fighting over the living space.
Other updates
Original parquet floor was sanded down, restored, and re-varnished with heavy duty yacht varnish for long lasting protection.
All gas pipes were removed and electrical heaters were installed to lower energy consumption.
Exceeding Landlord and Agent Expectations
Various estate agents were invited to estimate the rental value of the property. Due to the high finish and excellent location, the clients negotiated with the Estate Agents to advertise at £400 a month over the average estimation for the size of property and area. It received such interest overnight at soft launch that it was raised a further £100 a month, which it achieved with ease.
Successful offer at soft-launch, before officially on the market.