Ridgeway, Gateshead
A buy to let residential property refurbishment undertaken by Clarice Carr & Company.
Ridgeway, Gateshead
This property, in a popular area of Gateshead close to the Metro and road links, had been empty for 2 years and required a total refurbishment. We also decided to knock through the kitchen to create an open-plan living space. The property was rented within 5 days of going on the market.
Improvement Works
New open plan layout
New kitchen
Replacement bathroom
Decorated throughout
New carpets and flooring
New boiler and central heating
New back door and windows
Front and rear gardens landscaped
Partial rewire
Investment Analysis
Purchase Price: £68,000
Costs (inc Stamp Duty): £2,480
Refurb costs: £15,700
Our fees: £1,884
Total Spend: £88,064
Current Valuation: £105,000
Equity Created: £16,936
Monthly Rental: £600
Annual Return: 8.17%
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