Requirement - Development/Refurbishment
Unmodernised 4 Bedroom Apartment
Purchase Price £2.25m
GDV £4.5m
2014

This is an example of a more recent trend in London property. Our client, a developer, had been exhaustively looking through Chelsea and Belgravia for a refurbishment opportunity. He came to us in the hope of finding something which was not on the open market. However, we found him a property which had been on the market for over a year. Whilst it had seemed fully priced at the start of its marketing, a year on it seemed reasonable - especially when you could add 400 sq ft. The developer is on track to exceed his profit on cost expectation.