Located in the centre of town, within easy walking distance of shops and other amenities, this property was already an HMO but very tired. We refurbished it to a high spec and let it as an HMO with five en-suite bedrooms. The loft space had some structural issues so we brought in a structural engineer to help resolve those and he submitted his drawings to us.
However, when it became apparent that we needed the engineer’s calculations in order to secure Building Regulations approval, not simply the drawings, we hit a problem because he had left the company we had engaged him through. In the end, another engineer carried out the work again, but it was around 12 months before we had Building Regulations sign-off, which delayed the project’s completion. That was a big learning point, not to be repeated!
This project should receive a big capital growth boost with the arrival of Crossrail, as the market has been predicted to grow by 40% from 2015 to 2019.