In addition to building projects, Davenport Construction also has a property development business that combines client investment capital with our own investment to either sell on or rent out property for a return. In this case, an HMO property close to the city centre on North Road West needed a full renovation before it could be leased to tenants.
Project Brief
The brief for this HMO conversion was to take an under-utilised property, close to the city centre and turn it into a high-spec HMO which maximised returns and delivered a positive living experience for the tenants involved. As an investment property which combined our own funds with investor money, it was important to meet the project’s deadlines and start delivering a return on investment as proposed.
Specifications
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- Extremely high-quality finish, which is rare for an HMO
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- Inclusion of an additional second floor room which maximises rental income
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- High-spec loft conversion in line with planning approval
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- Bright and airy feel throughout with a consistent accent colour scheme
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- Impressive communal areas with quality flooring to match
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- High spec kitchen with appliances and units to match
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- A HMO property with a genuine boutique hotel feel
Results and Delivery
The end result of this HMO conversion is a stunning shared rental property close to the heart of the city centre. However, the project wasn’t without its difficulties, especially on the planning front, as the local authority needed convincing due to it being a tight, compact site.
In addition to Davenport Construction as the Main Contractors, the team also included Pro-Lec as the Electrical Contractors, ASC Plumbing and Heating, Rees Carpets and Flooring and Rob Heard as the Planning Consultant. Together, the team worked well to make sure that the HMO conversion was delivered within a 4-month period so that tenants could move in and revenue could start to be accrued.
Overall, the property had a high-quality feel, and it didn’t take long to attract tenants, one of whom commented: “From my very first viewing, Emily and the Davenport Homes team have been nothing short of incredible. The experience has been amazing. Everyone who comes to the property is blown away by the high-quality finish; they all say that it looks like a boutique hotel. We literally refer to it as ‘The Hotel’. It’s a truly special shared house.”