Conversion of Police Station into 3 dwellings and an office – Reading, RG4
This project will be starting Q1 2020 on-site.
Planning permission to extend and convert the existing footprint.
Existing is currently 40m2 Office space, A very tired 3 bedroom house and two garages.
We plan to convert and extend to end up with 2 new dwellings, one refurbished existing dwelling and a new desirable office.
Purchase Cost (inc. legals and SDLT) = £461,000
Development Costs = £450,000
Gross Development Value = £1,250,000
Profit = £250,000
Profit on GDV = 20%
Duration of Planning 6 months
Duration of Build 6 months