Unlocking the True Potential of Your Property – Redevelopment with Finders Keepers Bricks & Mortar
A large family home located in Bladon near Woodstock was not reaching its full rental potential. With 4 bedrooms, a large secluded garden and a prime location adjacent to Blenheim Palace this property should have been an all-star in the local letting market. However, over time the house had become dated and was in need of some care and attention.
The landlord had been a long standing client with Finders Keepers, since 1999. Towards the end of 2014 the tenancy was coming to an end and at that point we suggested some upgrades which could improve the ‘let-ability’ to new tenants; properties in the best condition tend to let at the highest rent to the best tenants.
Bricks & Mortar, the property development and maintenance division of Finders Keepers, worked closely with the landlord to produce cost estimates and timescales for the suggested works. After a number of in-depth discussions the following changes were given the go ahead;
• Removal of two internal walls to create a large kitchen / family room and the removal of a chimney stack. The fireplace had been made redundant long ago and to open up the space on the ground floor the decision was made to remove the entire internal wall including the chimney.
• Upgrading the kitchen with new appliances and granite worktops.
• Installing a brand new, modern central heating system, including a new energy efficient boiler, pipe work and radiators.
• Fitting new aluminium French doors to a new doorway to the garden and large replacement sliding folding aluminium doors to match the existing window frames.
• Laying a new engineered wooden floor in the family room.
• Dividing an existing oversized downstairs cloakroom into a new utility room and smaller W.C with a new suite.
• Landscaping the garden, giving a more tidy appearance that is easier to maintain.
• Full internal redecoration of the property, from top to bottom, including new curtains, carpets and lighting by Decorum Interiors.
Even with the project involving extensive changes including the generation of a new modern kitchen space, it was completed in the timescale of 3.5 months – a quick turn-around considering the scale of the work. The property was re-listed at £2,750 pcm – a 62% increase in monthly rental income – and was quickly let to good quality tenants who moved in a month after the work was completed.
About Finders Keepers
Finders Keepers is an award winning letting and property management agency based in Oxfordshire. With extensive local property knowledge and in-house teams dedicated to building work and interior design we can cover every aspect of rental property projects. If you would like to discuss improvements to your rental property please contact Mark Nightingale on 01865 302350 to get started.