Commerical Conversion to Residential Project Worsely 50,000 Profits
We did this conversion to residential as a JV in Worsley in several short months. This property was a store that had a fire. We purchased this property extremely BMV. Fire properties can be profitable but also fraught with danger due to the damage they produce. We had a structural engineer as well as our architect check everything.We had to put in joists and supports.
In this conversion we made 3 flats. They were immediately rented back to Salford council on a guaranteed rent scheme with their social housing partner Salix Homes.
We started this project in Feb last year. We were out by the end of March and was immediately rented. These are the type of conversion to residential deals we do. We have several tentative projects and looking for a strong JV partner.
For example…..Currently we just conveyed on a warehouse in which we are creating 6 flats. If you are in the Greater Manchester area you are more than welcome to come and we can show you around. We are looking for experienced JV partners with deep pockets. You can put the property in your name or your company’s name and we can split 50/50.