Type: Residential
Location: Coatbridge
Duration: 12 weeks
Value: £162,000
Flipping a rundown property into a family home sees a fast turnaround and profitable return.
Sweeney Group acquired a rundown two-bedroom property in need of a complete refurbishment. After ripping out all the rooms within the whole property, we renewed the full plumbing to accommodate a family bathroom and an additional bathroom on the ground floor with a shower. We added a third bedroom on the first floor, creating a large enough dwelling for a larger family to live in and providing a total of three large bedrooms on the third floor.
The large living room retained several of its original features, including a cornice, large bay window, wood panelling and skirting. The large sitting room and small kitchen area to the rear was opened up to provide an additional shower, bathroom utility room, larger storage and an open plan modern kitchen dining area. We also treated the rear of the property for dampness.
The front and rear entrance way’s mosaic tiles and storm doors were refurbished and brought up to a high standard, creating a contemporary feel to the property. All of the sandstone and roof tiles were cleaned, as well as clearing the front and rear garden. We also fenced off the garden, creating a nice green space for a family to enjoy.
The property was sold for £162K – almost double the original purchase price. After expenses, the profit generated by the sale was calculated at £21, 918.30. £140K was returned to the project’s investors.
