Watergate Street, Chester
A conversion of a beautiful four storey Georgian townhouse, to 8 luxury apartments.
Moments from Chester Racecourse and a short walk into the city centre, with its vast array of businesses and vibrant hospitality sector, this represents a tremendous opportunity for redevelopment.
Our primary strategy is to rent out the finished apartments, or use them as serviced accommodation – something that given the location would be extremely successful.
Although in need of refurbishment, Watergate Street is already laid out in such a way that conversion into these apartments is easy to visualise and bring to fruition, with movement of stud walls and some cosmetic enhancements.
* Warning: Capital at risk. The value of your investments can go down as well as up, so you could get back less than you invested. Suitable for sophisticated investors.
Existing floorplan
Current condition
Target finish
The investment…
Purchase price £450,000
Fees incl. SDLT £34,600
Cost of refurbishment £650,000
incl 10% contingency
Total costs £1,399,378
incl returns
GDV/DUV lower estimate £1,805,000
Income going forward…
Residential income £13,714 PCM ( £164,568 PA incl. 5% void rate )
If you’re interested in becoming involved with this opportunity, with the ability to earn excellent fixed returns, please contact us.