The Westgate Project
A seafront block of six flats with additional land to the rear, offering both immediate income and future development upside. The project focused on light refurbishment and refinancing to recycle capital efficiently.
Investment Thesis
Strong coastal rental demand with lifestyle and commuter appeal
Low refurbishment requirements relative to uplift achieved
Additional land providing future planning optionality
Key Facts
Units: 6 flats
Purchase Price: £975,000
Bridging Loan: £750,000
Refurbishment Cost: £30,000
Total Project Cost: £780,000
GDV: £1.35m
Value-Add Strategy
Light refurbishment to enhance presentation and rental demand
Professional management to stabilise income
Retention of rear land for future development potential
Risk Management
Minimal refurbishment reduced cost and timeline risk
Conservative refinance valuation assumptions
Multiple exits: hold, partial disposal, or future development
Following refurbishment, the property was refinanced, releasing capital in excess of total project costs and enabling reinvestment into further blocks.
Ongoing Performance
Net Rental Income: £1,800 per month (£22,000 p.a.)
Long-Term Upside: Rear land development potential
Acquisitions
