We believe in 100% transparency with our clients and our investors, and we love to share what we do and how our current projects are progressing, as well as outline the details of some of our favourite projects. Simply click on any of the projects below to find out more about each project, the breakdown of the deal, the project details and the returns on investment that have been created.
Burnsyde Beach House has been one of our favourite projects to date. Not only because of the incredible return it is now generating, but because of it's location, it's impact on the local area and the learning curve it has provided for us as a team.
The property has undergone a full refurbishment, with every wall in the property being stripped back to the brick, re-insulation throughout, complete re-wire, re-positioning of the internal staircase to form an en-suite loft bedroom, and complete landscaping.
The property is available for short-term lets, and is consistently producing over £60,000 per annum in revenue at 90%+ occupancy rates. The project has left only c.£7,500 in the property, with all of our private investors receiving their capital plus interest (10% pa) returned to them, and we are left with an income producing asset with a fantastic return on capital.
WINDSOR COTTAGE - HOLIDAY LET - 20.11% ANNUAL ROI
Windsor Cottage is a victorian sem-detached cottage located in Saltburn by-the-sea on the North Yorkshire coast. The property was purchased for £136,500 and has now been fully refurbished and furnished to a high standard.
The property is forecast to generate over £30,000 in accommodation fare revenue in it’s first year if operation, and estimated to be revlaued at c.£165,000 when refinanced later this year.
The property was furnished for a budget of £7,500 and you can explore the finished product here on our Stay North Yorkshire website.
PARK VIEW APARTMENT - HOLIDAY LET - 20%+ ANNUAL ROI
This purchase was made on behalf of an overseas investor looking to grow their portfolio in the UK on hand free basis.
The property was purchased after having being part of the restoration of a Victorian Mansion on the North Yorkshire Coast, and is now operating as a Serviced Apartment/Holiday Let.
With over £12,500 of booking revenue secured within the first four weeks of launching, the net annual return on capital is forecast to be in excess of 24% and we are now actively sourcing the investors next project.
You can find out more this particular property on Stay North Yorkshire.
ESPLANADE APARTMENT - SA - 10.92% ANNUAL ROI
Esplanade Apartment located in Redcar on the North Yorkshire coast is the first of a series of Serviced Accommodation Apartments being added to our Manhatten Property management portfolio on behalf of our INVESTicity clients.
This two bedroom apartment was purchased cash for £85,000 with a further £7,000 spent on furnishings to deliver a high quality product for our guests. The forecast for the first 12-18 months of operation is a net operating profit of £10,911 which represents a 10.92% annual net return on capital for our client.
HARBOUR COTTAGE - HOLIDAY LET - 17.31% ANNUAL ROI
Harbour Cottage is located in the small seaside town of Staithes on the North Yorkshire coast. The property had undergone a significant refurbishment prior to purchase, and so we were quickly able to turn around the furnishing of the property and begin creating cash flow within a matter of days.
This two bedroom property will attract an average nightly rate of around £130 and is expected to exceed 70% occupancy in its first 12 months of operation, with steady increases in the years after.
You can explore further information and more images of this property over on our Stay North Yorkshire website.
This project is currently in progress and is our second large freehold building with multiple units, and our second title split. The property originally consisted of three residential units and one commercial unit on a single freehold title, and we have now converted the commercial unit into two separate units.
This deal was agreed on a delayed completion with the vendor, and works were started within this six month completion period. We were also able to take control of the building at this time. Upon completion, five individual leases were created (creating five leasehold properties) which will be retained, and the freehold entity will be sold to a freehold investor at circa fifteen times the annual ground rent.
This project has zero capital left in, with our private investor having their capital returned in addition to the interest of 9% pa. It will leave us with a building producing a net return of over £20,000 per annum. An infinite return on capital as no funds remain in the deal.
BANK BUILDING - CONVERSION - 46% ROI
The Old Bank has been an iconic building in this small market town for hundreds of years, and the conversion into three large two bedroom flats plus a quaint one bedroom cottage at the rear has maintained that status.
The project had been started by the vendor between 2008 and 2010, but had then been left unfinished. We picked up the building in 2015 and continued the conversion of the flats and the refurbishment of the cottage.
Throughout the conversion, four individual 999 year leases were created so that each unit could either be sold or re-financed individually, with each unit attracting annual rental income of between £4,800 and £6,000. Each unit that is now let produces an annual yield of just over 8% and the units that have been sold have produced cash returns of 46% for our investors.
This was a fairly straight forward purchase to sell project whereby we purchased a vacant possession property on a JV basis at the value of £120,000. It was a three bedroom mid-terrace property in an affluent area where a lot of young professional families are looking to get onto the property ladder. The purchase was also negotiated with an exchange and delayed completion for up to three months which allowed our project team access to the property to carry out the works before completion.
The property was completely refurbished, consisting of a full re-wire, new boiler and heating system, re-boarded and re-plastered throughout, new kitchen and bathroom and new flooring and carpets. The refurbishment was to a relatively high specification in order to attract a selling price at the top end of the three bedroom market.
The work was completed within four months, and the property was sold and concluded after seven months. Our investor achieved a net return of just over £11,000 on their initial £50,000 investment, resulting in annualised ROI of over 22%.
A personal investment project, this leasehold commercial property was purchased as a vacant possession and had served as a solicitors office for the last two decades. It comprised of ground floor reception and office space, with a kitchen and toilets to the rear. Upstairs there are a further two offices with an initial use-able space totalling 1,107sqft.
This space has now been turned into two self-contained units, with retail space of 813sqft, and office space of 294sqft. The basement space has also been cleared to provide an opportunity for further occupation, with basement space totalling 616sqft. The property is currently occupied by two long term tenants on FRI leases and an annual income of £16,740. After being purchased for £125,000 the property has recently been revalued on an investment basis at £160,000.
DUNDAS STREET - COMMERCIAL UNIT - 57% ANNUAL ROI
The fourth commercial unit that was added to our personal portfolio in 2017 as rental demand for commercial space increases within our investment area.
Occupying two floors, the premises has undergone significant refurbishment and conversion work and now operates as a Tea and Coffee House, providing Saltburn with yet another successful local, independent business.
The purchase price of this property was £62,000, and with annual rental income of £10,000, now values at around £100,000 on an investment basis.
INVEST IN A PROJECT
If you're a private investor looking for a return on your capital, or you're a property investor looking to add properties like this to your own portfolio or even looking for a way to get started, then get in touch with us today and we can help you reach your individual goals.