Laburnum Grove
Results and Investment Returns
Originally a 3-bedroom buy-to-let, we transformed this semi-detached property in Portsmouth into a 7-bedroom co-living space.
Original Purchase Price: £240,000
Development Costs: £220,000
Monthly Rental Turnover: £4,750
Sale Price: £630,000
Project Overview
Originally a 3-bedroom buy-to-let, this semi-detached property in Portsmouth was transformed into a high quality 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:
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Loft Conversion: Using permitted development, we converted the loft into two double en-suite bedrooms.
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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.
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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:
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Full DPC installation on the ground floor.
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Installation of new internal walls throughout.
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Creation of en-suites across all seven bedrooms.
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A new ground-floor extension providing a spacious, licensed co-living area.
