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Completed Projects
No. of Units - 81
Uplift - 125%
Contractor - Empire81
Bolton
63 BRADSHAWGATE - FUNDED
Conversion to 81 self-contained apartments with ground floor retained as a commercial unit, under full planning permission.
Purchase price - £850,000
Development costs - £2,592,000 (81 x £32,000)
Total - £3,442,000
Residential income - £589,680 pa (81 x £140 x 52)
Commercial income - £30,000
Valuation (based on 8% yield) - £7,746,000
No. of Units - 16
Uplift - 47%
Contractor - Empire16
Wakefield
Thornhill Street - FUNDED
Conversion to 16 self-contained apartments under full planning permission.
Purchase price - £900,000
Development costs - £480,000 (16 x £30,000)
Total - £1,380,000
Residential income - £112,320 pa (81 x £140 x 52)
Commercial income - £50,000
Valuation (based on 8% yield) - £2,029,000
No. of Units - 29
Uplift - 82%
Contractor - Empire- 29
WAKEFIELD
NEW COMMERCE HOUSE - FUNDED
Conversion to 29 self-contained apartments under full planning permission.
Purchase price - £370,000
Development costs - £928,000 (29 x £32,000)
Total - £1,298,000
Residential income - £188,500 pa (29 x £125 x 52)
Valuation (based on 8% yield) - £2,356,250
No. of Units - 66
Uplift - 54%
Contractor - Empire- 66
BLACKBURN
NEWSPAPER HOUSE - FUNDED
Conversion to 66 self-contained apartments with car parking under full planning permission.
Purchase price - £850,000
Development costs - £2,640,000 (66 x £40,000)
Total - £3,490,000
Residential income - £429,000 pa (66 x £125 x 52)
Valuation (based on 8% yield) - £5,362,500
No. of Units - 124
Uplift - 62%
Contractor - Empire- 124
BOLTON
GLOBE WORKS - FUNDED
A former mill to residential conversion with 24 one-bedroom, 90 two-bedroom & 10 three-bedroom apartments.
Purchase price - £1,700,000
Development costs - £6,200,000 (124 x £50,000)
Total - £7,900,000
Residential income -
£1,024,800 pa (24 x £600 x 12) + (90 x £700 x 12) + (10 x £800 x 12)
Valuation (based on 8% yield) - £12,800,000
No. of Units - 65
Uplift - 61%
Contractor - Empire- 65
HALIFAX
HALIFAX HOUSE - FUNDED
A commercial to residential conversion via full planning permission creating 65 one-bedroom & two-bedroom apartments.
Purchase price - £1,250,000
Development costs - £2,275,000
Total - £3,525,000
Residential income - £456,300 pa (65 x £135 x 52)
Valuation (based on 8% yield) - £5,700,000
No. of Units - 39
Uplift - 96%
Contractor - Empire- 39
DARLINGTON
THE COACHMAN HOTEL - FUNDED
Creation of 39 one-bedroom apartments and studios in the Coachman Hotel building.
Purchase price - £390,000
Development costs - £1,365,000
Total - £1,755,000
Residential income - £273,780 pa (39 x £135 x 52)
Valuation (based on 8% yield) - £3,442,250
No. of Units - 120
Uplift - 56%
Contractor - Empire- 120
WEST BROMWICH
SOCIETY HOUSE - FUNDED
A development that comprises of 120 one and two-bedroom apartments with a total of 111 on-site secure car parking spaces.
Purchase price - £3,000,000
Development costs - £4,000,000
Total - £7,000,000
Residential income - £873,600 pa (120 x £140 x 52)
Valuation (based on 8% yield) - £10,920,000