Treyford Close, Crawley

Convert 3 bedroom house into a high specification 6 bedroom, 6 ensuite shared property, aimed at the higher end of the professional tenant market, delivering profitability of 14% Net Yield.

Create 6 En-suite Bathrooms
Create a large open plan kitchen diner by knocking 2 walls and repurpose hallway
Repurpose kitchen to create a new bedroom
Knock through the bathroom and repurpose landing to create a bigger bedroom
Create underground drainage to facilitate 3 downstairs bedrooms
New Water Services installed to facilitate the creation of the 6 En-suites

The HMO market in Crawley is thriving given that there are 203 rooms/properties available on a very broad search in the area with Sparerooms. The fact that Article 4 has not been implemented yet also shows that supply is still not fully meeting demand

Filtering further on double rooms shows 171 rooms/properties available and then 19 rooms/properties when ensuite is selected too and focusing in Central Crawley.

It is clear from general research in the HMO market that the ensuite room is becoming the preferred option for tenants and so we are ahead of the curve with our development.

When applying a filter of at least £625 a room then 10 still remain within this same area, showing a healthy demand of properties of this nature. Given my objective to create a high quality specification property with an ensuite in every bedroom, this analysis shows we are very competitive.

We have then analysed what we believe would be the normal market rent achievable based on the above data and what we have already let the rooms out to date for.

Our Analysis Shows: Normal Market rent to be averaging £706 x 6 rooms x 12 months – £50,800 per annum with the current Market rent to be averaging £655 x 6 rooms x 12 months – £47,160 per annum

Creating the open plan kitchen/diner

Creating the ensuite

Converting the Kitchen into a Bedroom

Treyford Close, Crawley