Land for Sale in London W11, London

Summary: Off Market Residential Development and Refurbishment Opportunity – London W11 Summary • Situated in London W11 the current square footage is 800 sqft. • It has planning permission for a sub basement which will add another 800 sqft, and an extension of approx another 200 sqft. Therefore a total of 1,800 sqft. • Presently a 2 bed, 2 bath but with the additional space could be a 3/4 bed with 2/3 bathrooms. The cost for the basement and extension is budgeted at £300k and £100k refurbishment of the existing lower ground floor. • Properties can go for anything between £1,700 - £2,000 a sqft in this area. We have done our usual due diligence as well as speaking to 4 agents. Taking into account that it is a lower ground floor the range we got was £1,400 sqft - £1,800. We have actually based a £2.43m resale price on achieving £1,350 a sqft, so more than realistic and all this is based on the market as it is post Brexit. • If bridging it for 9 months it returns £626k on cash invested, therefore pretty much 100% return on cash. • The vendor wants £1.13m to clear off the finance.

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