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New Build – Completed 2017

    Home Case Studies New Build – Completed 2017

    Irene Road, Orpington was a 4 bedroom detached bungalow. Our goal with this project was to demolish the existing property and build two new large executive homes. The property was purchased in 2014 and we applied for planning permission soon after buying the bungalow. This was initially rejected, but we appealed and obtained the necessary planning permission in 2015.

    Soon after planning permission was granted we got to work on the demolition. At the end of 2016 we had demolished the existing property and built two new executive homes. You can see from the before and after photographs that this was a mammoth project. This was yet another triumph for us and our expert team of contractors.

    Both of these new properties sold pretty quickly after building. They were extremely well built and no expense was spared to make these very attractive executive homes. The build costs were significant but it was worth it to realise the profit that we did.

    Irene Road 008
    Irene Road 008
    IMG_1697
    IMG_1697
    irene-road
    irene-road

    Here are the project financials

    Costs Summary
    Purchase Price: £600,000
    Build Costs: £851,000
    Professional Fees and Financing: £276,750

    Total Costs: £1,727,750

    Gross Development Value
    Sold Price: £2,100,000

    Investment Returns
    Project Profit: £372,250
    Profit on Cost: 21.5%

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    Creative Property Group
    Letraset Building, Wotton Road, Ashford, Kent, TN23 6LN

    Phone Number
    0800 488 0027

    Email Address
    [email protected]

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    Land Acquisition and Property Development Company | Creative Property

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