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Laburnum Grove

Results and Investment Returns

 

3-bedroom buy-to-let, this semi-detached property in Portsmouth transformed into a 7-bedroom co-living space.

Original Purchase Price: £240,000

Monthly Rental Income: £4,725

Expected Final Valuation: £550,000

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Project Overview

Originally a 3-bedroom buy-to-let, this semi-detached property in Portsmouth was transformed into a 7-bedroom co-living space. Purchased in 2019, the property required extensive renovations to bring it up to modern standards, with a focus on maximising its co-living potential without compromising room sizes or shared spaces.

Development Journey

The redevelopment involved significant structural work, including:

  • Loft Conversion: Using permitted development, we converted the loft into two double en-suite bedrooms.

  • Structural Renovation: Given the building’s neglected state, major elements—including the roof, rear walls, and internal walls—were rebuilt to modern standards, while the front and side walls were preserved and reinforced. 

  • Ground Floor Extension: We added an extension to accommodate an open-plan kitchen, dining, and living area, meeting HMO requirements.

The project also received planning approval to increase occupancy under sui generis usage, allowing for 7+ tenants in the property.

Conversion Highlights

The extensive interior work included:

  • Full DPC installation on the ground floor.

  • Installation of new internal walls throughout.

  • Creation of en-suites across all seven bedrooms.

  • A new ground-floor extension providing a spacious, licensed co-living area.

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