This large, Victorian property with a coach house was run down and in need of refurbishment when we bought it in 2014, but already had planning permission for two flats and five bedsits. Although it also had an HMO licence, we had to gain planning for a large Sui Generis HMO because we wanted to create 12 en-suite bedrooms.

In order to give the end buyer as much flexibility as possible, we wired every room back to the main fuse board, meaning they could easily be put on individual meters. We installed three kitchens, so that the property could be zoned if required, and created a cinema and a laundry room. The HMO officer at Reading council said it was the best HMO he had ever seen – it really was more like a small luxury hotel. We held the property for two years, before deciding to take advantage of growing interest in Reading from investors, selling with a total gross return of nearly half a million pounds.