In September last year, our recurring client David* approached us for funding on a two-bedroom ground floor flat in Brent, London.
The property, part of a 1920s Mock Tudor-style mid-terrace house, was a long leasehold with strong resale potential. The plan was clear: purchase, renovate, and exit via resale after strategic upgrades.
Initial Funding
Purchase Price: £710,000
First Tranche Released: £525,000 (purchase)
Second Tranche Released: £292,000 (renovations)
Market Rent Estimate (if held for BTL): £2,400 pcm
Renovation Plan
David planned a single-storey side-to-rear extension to increase living space. There would also be alterations to the rear detached garage to enhance usability.
Project Outcome
By the end of January, the project was moving at pace, with significant milestones achieved:
Scaffolding erected
New floor joists throughout
New rear extension built
Partition walls in place
Steel reinforcements installed
Rear garage/outbuilding partially built
Rear garden levelled
Exterior front repainted
Chimney stacks removed
First fix electrics completed
With progress on track and within budget, David requested a third tranche of £150,000 to push towards completion. Given the well-managed execution, we approved the funding.
This project is a strong example of efficient planning, timely funding, and successful execution. With key structural work completed, the property is well-positioned for a profitable flip, maximising David’s return.
*client name changed for privacy purposes