With stamp duty and tax increases set to arrive on the 1st April 2016, there is a flurry of buyers looking for property development opportunities and source the best deals. Those with the time and effort available will be looking for properties they can add value too, either by modernising the interiors, adding square feet or extending leases. Whether you are looking to flip a property, rent it out for years to come, or transform it into your next dream home, the hard part is finding the right property, for the right price. We have put together five of the best unmodernised properties ready for you to add value to them, the pricing down to you!
Property Development Opportunities;
Stokenchurch Street, Fulham, SW6 – £2,375,000
Currently a complete shell, but one that has got a huge amount of potential to extend and create a family home. On a quiet residential street close to Parsons green. The property would cover over 3000 soft following proposed works;
• Construction of a dormer window in the rear roof extension to replace existing;
• Construction of a rear extension at second floor level over part of the existing back addition;
• Construction of a single storey rear extension to the side and rear of the existing back addition; and
• Excavation of the front garden and part of the rear garden to form light-wells, in connection with the enlargement of the existing basement.
Available through Unmodlondon.com
Lancaster Road, Notting Hill, W11 – £800,000
This lower ground floor flat in Notting Hill needs a complete renovation and has the potential to extend into the garden and add a side return. Beyond just modernising the interiors and going into the garden, the area to the front is also demised and could be used for storage and an entrance hall. Following works, this could be worth closer to £1400/sqft + with a good finish. We would look at turning this into a two bed either to maximise rent or sell on immediately given camparable sold prices on that road
Available through Winkworth
Mackay Road, Clapham, SW4 – £1,250,000
We still like Clapham as a capital growth area and this property has the potential for a major redevelopment to replicate the residential street. Currently spread over 1932 soft, although it would benefit most from bulldozing before starting from the ground up. Anyone looking for a house in this area would do well to join up with like minded house hunters and develop the space into 3 or 4 homes, with a good building team you would turn a decent profit should you decide to sell rather than move in.
Floor plans and map:
Available here; Hamptons.com
Burnsall Street, Chelsea, SW3 – £2,250,000
Most of us would baulk at paying £2770/sqft for an unmodernised house, but if your heart is set on Chelsea and having your own house, due to its size, this is one of the more accessible. There is some potential to extend into the garden, although this does not add a lot of space. It may be possible to put in another floor given that other houses on this street have done so, although these houses are notoriously her to get permission. Otherwise we would look a this as a blank canvas to create your dream home and perhaps consider a basement!
Available through John D Wood
Prince of Wales Terrace, Kensington, W8 – £8,750,000
At the top end of our selection but a beautiful property in an area that will always remain highly desirable, a long term investment and if you were to split this house into flats, something to last through the generations…
Floor Plans and Mop
Available with Foxtons
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