Commercial to Residential Conversion - Grade II Listed Building - 14 Apartments - Propertunities

Miles Bulloch at Propertunities takes you on a tour around the latest acquisition. A beautiful Grade II listed building with planning for 14x one and two bed luxury apartments.
For more information on our deals, or to chat with one of the team, visit www.propertunities.co
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[@benchai3394]

WoW - looks amazing. Thank you for giving us a virtual view and talk.

[@dannymurphy1779]

This is in Doncaster right??? Good luck with it!

[@Propertunities]

Hey Danny, It's in Wakefield - we've just launched our sales websites www.LangtonLodgeWakefield.co.uk if you want to follow updates :)

[@Emma.larchfieldproperty]

Did you stay within the estimated build costs? I've looked at the finished apartments, and you've done a fantastic job. Was the experience worth it and do you have any advice for someone taking on a similar project?

[@milesbulloch2277]

Hey Emma, thanks for your kind words! We came in a bit over the expected budget, but we had chunky contingencies and bought at a good price too. It's been an amazing project to work on - 5⭐ - Would build again! In terms of advice, if someone is taking on a similar project having not done something like this before, I'd always recommend getting ongoing support from someone with the experience as there are so many things that could trip you up e.g. VAT, S106, CIL, Capital Allowances, English Heritage & its requirements, general tax / business structure and the list goes on! We're part of the Prosperity Network if that helps - we coach for them and there's also so much valuable content there to support property investors 🙂

[@Emma.larchfieldproperty]

Thank you Miles that's very helpful. I will research very carefully!

[@ashleyspencer3664]

Amazing looking project. Did you get a capital allowance survey - must be worth a lot. Out of interest how will you hit epc and noise regulations with the single pane windows. Looking as something similar but on a far smaller scale

[@milesbulloch]

Hey Ashley, thanks for watching! Unfortunately we couldn’t make a capital allowances claim on purchase as the vendor had already claimed it all - we were limited to £1! The second opportunity to claim is once the work has been completed. As this will be residential, we can only claim on the areas that aren’t apartments - so communal, plant rooms, basement etc. We’re also unfortunately quite restricted on what we can do to improve the thermal capacity of the building as the conservation officer has the final say. The rear building overlooking the road is newer and so has double glazing fortunately, but the rest is single glazed. We’ll be applying for an exemption just in case we don’t meet the minimum EPC requirements which is pretty common practice for listed buildings. For another listed building we recently converted, we were able to put timber framed double glazing in (which was more expensive than the standard uPVC) but made a positive difference. Hope that helps!

[@ashleyspencer3664]

@@milesbulloch thanks for the info. Hope it works alright. At least your vat for the conversion isn’t as high. Still contemplating my own conversion - extra planning costs and a hmo bedroom still needs to be feasible if next to a road.