Lechmere Road, North West London provided us with the opportunity to take over a distressed property from another developer. The current owner had already created the benefit of having acquired planning permission, began developing the site and had completed the structure of the loft. However, it was clear that the development had been mismanaged judging not only by the terrible state of the property, but also that no work had been carried out on the property for several months as unveiled by our stringent due diligence process. Our research had also highlighted that the owner had expensive lending on the property and therefore could be looking for a distressed sale. With this information at hand, we managed to negotiate a favourable purchase price that reflected the benefit of the planning gain and the completed loft structure.
With the planning already in place, our goal here was to continue where the developer had left off and create two separate modernised flats, a 2-bedroom garden flat and a three-bedroom duplex on the first and second floor. Flats of this size are incredibly desirable and we further benefitted from the location of the property being within a few minutes walking distance from the tube station and the local high street.
With the planning already in place, our goal here would be to continue where the developer has left off and create two separate modernised flats, a 2 bedroom garden flat and a three bedroom duplex on the first and second floor. Flats of this size are incredible desirable and we benefit further from the location of the property being within a few minutes walking distance from the tube station and the local high street.
