London Buy To Let: Buy To Let Property In London

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London Buy to Let Property Refurbishment & Development

Before you buy a property for refurbishment or redevelopment, explore different ways of achieving that all-important profit:

Minor improvements. A general decorative overhaul can push up the value of a property, without involving planners, architects and a big investment.

Converting a Property. At its most simple you might take a property and turn it into flats, but this still involves complex budgeting and financing. A professional developer would avoid using their own money to fund a major conversion and this is worth remembering if you're considering investing all your own funds. There's often a large gap between the value of a property and what it might fetch converted to flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the property into a single house. Planning consent will normally be required in both scenarios.

Change of use. The conversion of a building from one of business use into housing is a more complex proposition. For example, when turning a pub into flats, the big, initial risk is trying to buy a pub without first applying for planning consent for 'change of use'. You should never buy a property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local authority planning officers. Many property sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted.

The practicalities. With any prospective property conversion, you'll need to have a good understanding of building regulations and of the architectural possibilities of your property. When converting larger and more substantial properties, you'll probably need a professional team and you'll need to budget for their services.

The property development team should include:

• a quantity surveyor to ascertain costs of the pub conversion
  

• an architect to design the pub conversion scheme, help secure planning consent, and possibly project manage it
  

• an engineer to ensure you have a safe, structural solution
  

• an estate agent to help you sell or rent out the finished product

Buy to Let Property Investments?

Building to meet the demands of tomorrow's buyer is a highly cyclical and risky business. Finding suitable property and expertise in dealing with planning and finance as well as handling acquisitions and resale are part of the service we provide. We believe that market exposure is Paramount in achieving the highest sale figure for your property. The more potential applicants that are attracted to your property, the greater the chance of achieving an acceptable offer as swiftly as possible.

Interior Design and Property Refurbishment

Paramount Properties work closely with several interior design companies to offer clients stylish design to suit every taste. Working with a variety of client budgets our interior designers renovate and decorate houses and flats according to client specifications. Properties to rent and sell are generally decorated in a generic style to appeal to a wide range of tenants or buyers whilst homes reflect individual buyers personal tastes.

The value of a property can be significantly increased by undertaking a programme of refurbishment. If you’re buying to let, redecoration increases rental returns and if you’re buying to sell again a small investment in refurbishment can reap worthwhile returns on the value of the sale.

Expert advice on building construction

We work with experienced building surveyors to provide a project management service that advises and oversees any major construction work undertaken on an investment.