Our case studies demonstrate our experience efficiency and attention to detail

Bridge House, Chertsey

  • Build: (Contractor Negotiations Underway)
  • Size: 21,000sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Completion anticipated Q2/Q3 2017

Bridge House development, Chertsey is a 21,000 sqft residential development supplying 42 one and two bedroom units. The development lies in the heart of Surrey with easy access to central London, M25, M3 and Heathrow airport. The scheme has currently got plans to build 42 units under Permitted Development Rights suitable for First Time Buyers.  

Bridge House will come complete with the Inspired high spec, high tech fixtures and fittings. 

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 20%.

The Broadway, Crawley

  • Build: (Contractor Negotiations Underway)
  • Size: 60,000sqft
  • Use Type: New Build 
  • Timescale: Construction underway, completion anticipated Q2/Q3 2017

The Broadway development, Crawley is a 60,000 sqft residential development with commercial space on the ground floor. This development will consist of 78 apartments, spread over 7 floors, with high specifications throughout. The development was acquired for £2.8 million in September 2015 where Inspired have acted as a catalyst for future regeneration in the local area. 

This development is the first entirely new build scheme done by Inspired. 

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 20%.

Coombe Cross, CR0

  • Build: (Construction Underway)
  • Size: 31,870sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Construction underway, completion anticipated Q1 2017

The Coombe Cross development, 31,870 sqft, consists of 82 apartments, spread over 4 floors, with high specifications throughout. We have secured Permitted Development consent to convert this property into 82 residential units and intend to sell these on long lease. 

The margin on cost is projected to be in excess of 20%, on a conservative basis, and will be significantly higher once our expected upside, driven by our compact-luxury specification, is factored in.

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 20%.

Impact House, CR9

  • Build: (Contractor Negotiations Underway)
  • Size: 123,265sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Flexible - anticipated completion Q4 2017

The existing property is situated on one block, totalling 123,265 sq. ft. Net Internal Area on Edridge Road. The building has 16 floors, with 3 lifts servicing the entirety, with an extra two for the lower floors, and 19 parking spaces. We have secured Permitted Development consent to convert into 197 residential units, and intend to sell these on a long lease.

The margin on cost is projected to be in excess of 20%, on a conservative basis, and will be significantly higher once our expected upside, driven by our compact-luxury specification, is factored in.

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 20% within the 12 month project timescale.

Canius House, CR0

  • Build: CKC
  • Size: c20,000sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Practical Completion served
  • Partnership: In partnership with NIHL Ltd.

The existing Property is situated on one block, totalling c20,000 sq.ft Gross Internal Area on Scarbrook Road. The building has 6 floors with one 5-person lift and 9 parking spaces. We have secured Permitted Development consent to convert into 39 residential units, and intend to sell these on a long lease.

The margin on cost is projected to be at least 22% on a conservative basis, and will be significantly higher once our expected upside, driven by our compact-luxury specification, is factored in.

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 22% within the 6-month project timescale.

Rutland House, KT18

  • Build: (Contractor Negotiations Underway)
  • Size: c12,500sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Construction underway, anticipated completion Q2 2016

The existing Property is comprised of one block, totalling c12,500 sq.ft. Gross Internal Area on South Street. The building has four floors with one 5 person lifts and 25 parking spaces. We have secured Permitted Development consent to convert into 32 residential units, and intend to sell these on a long lease.

The margin on cost is projected to be at least 21% on a conservative basis, and will be significantly higher once our expected upside, driven by our compact-luxury specification, is factored in.

Results: Having presold a proportion of units already, we anticipate a net (before tax) margin on cost to be greater than 21% within the 11 month project timescale.
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Sutton Court, SM4

  • Build: (Contractor Negotiations Underway)
  • Size: 31,797sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Construction underway, completion anticipated Q2 2017

The existing Property is comprised of one block, totalling 31,797 sqft Gross Internal Area on Sutton Court Road. The building has 9 floors with two 8 person lifts and 14 car parking spaces. We have secured Permitted Development consent to convert into 73 residential units, and intend to sell these on a long lease.

 

The margin on cost is projected to be at least 35% on a conservative basis, and will be significantly higher once our expected upside, driven by our compact-luxury specification, is factored in.

 

Results: Having presold a proportion of units already, we anticipate achieving a net (before tax) margin on cost well in excess of 40% within the 17 month project timescale.
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Green Dragon House, CR9

  • Build: RGB Group
  • Size: 64,620sqft
  • Use Type: Office to Residential Conversion
  • Timescale: Construction well underway, completion anticipated Q2 2016

The existing Property is comprised of two blocks, totalling 64,620 sqft Gross Internal Area on Croydon High Street, the front block had 4 retail units paying a combined total of £188,450 pa. We quickly sold these units on a virtual freehold, secured Permitted Development Consent for 111 units on the four upper floors and the entire 9 storey block behind it plus an extra 8 new build penthouses on top of the front block and are preparing an application for a new third block behind the two existing blocks.

 

Current projections on margin have nearly doubled our original forecasts as a direct result of our high quality finish, smaller unit model and the additional consents we have achieved.

 

Results: We expect to achieve a net (before tax) margin on cost in excess of 42% within two years, this is expected to rise to 52% following subsequent STP phases.
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Surrey House, CR0

  • Build: Kaymac Construction
  • Size: 24,640sqft
  • Use Type: Pub & Office to Residential Conversion
  • Timescale: Build complete. All units ready for occupation as of end of Q3 2015.

The existing six storey building has a strong covenant pub with 12 years remaining paying £118kpa occupying the ground and first floors along with four floors of partially occupied offices. We have secured our Permitted Development Consent for 30 flats within the existing office space and hope to add a further 4 flats on two new storeys on top.

 

The margin on cost is expected to comfortably exceed 25%.

Results: We expect to achieve a margin on cost well in excess of 25%.
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Commercial Road, E14

  • Build: Inspired Construction
  • Size: 2,336sqft
  • Use Type: Retail & Residential
  • Timescale: 36 months

A four storey mixed use property in close proximity to Limehouse station, purchased for £420,000.

 

With two flats already completed and occupied by tenants and another to follow soon, the project is already generating revenue.

 

If the development of a further four storey property to the rear of the building is approved, the project will deliver a margin on cost in excess of 60% within just three years.

Results: We achieved a valuation between £886psf (bank) & £1,000psf (agent) in an area that typically achieves <£500psf and should achieve more than 60% margin on cost.
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Crichton Street, SW8

  • Build: Inspired Construction
  • Size: 900sqft
  • Use Type: C3 Residential
  • Timescale: 10 months

Purchased for £250,000, these two flats required extensive work after a gas explosion and subsequent fire had decimated the upper floor and caused serious damage to the rest of the structure.

 

The development now consists of two 2-bed fully let flats, both completely modernised to incorporate under-floor heating and the latest specification appliances.

 

With Inspired Construction turning the initial flats around in just 6 months to an incredibly high standard, we have achieved a 67% margin on cost - much higher than our initial estimate of 32%.

Results: We achieved a 67% margin on cost within 6 months against a forecast of 32%.
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Carmine Wharf, E14

  • Size: 7,090sqft
  • Use Type: Office to Residential Conversion
  • Timescale: 36 months

We acquired this property, which is just 15 mins walk from Canary Wharf, in a modern gated development for just £60psf.

 

Despite considerable challenges posed by the local planning authority we will ultimate convert this property from B1(a) office use to up to 10 residential flats.

 

The investment will be further enhanced by our tried and tested method of maximising revenue through a carefully planned balance of renting and selling, for an overall margin on cost forecast at over 80%.

Results: We expect to achieve a margin on cost in excess of 80%.
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Deptford Broadway, SE8

  • Build: Inspired Construction
  • Size: 7,594sqft
  • Use Type: Mixture of Retail, Office & Residential
  • Timescale: 24 months

We bought two adjoining freeholds with 6 existing studios, 2 shops and uppers and rear buildings with planning consent for 9 further 1-bed flats in Deptford for just £800,000. We subsequently improved the planning consent through modifications to the staircases and incorporating the basements to two of the flats. 

 

Further enhancements are planned and we could ultimately deliver as many as 19 high quality flats including 2 x 3-bed duplexes and a very impressive margin on cost.

 
Results: We expect to achieve a margin on cost in excess of 75% within three years, having originally forecast just over 40%.
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Lewisham High Street, SE13

  • Build: Inspired Construction
  • Size: 2,550sqft
  • Use Type: A2 and C3
  • Timescale: 8 months

Through a targeted investment of just £20k to upgrade the studio flat and issue separate leases for the three existing flats, we boosted the value by 67% to £585k in just three months.

 

And with a subsequent investment of £113k, we upgraded the two remaining flats and more than tripled their rents - even allowing for discounting rents for pre-lets and advanced payments. In the process we increased the value to £800k. We will seek consent to build an additional flat on the rear of the site in due course.

 

Through efficient staged refinancing with bridging and commercial lenders we minimised the equity required throughout.

 

We achieved a gross yield of 13.6%pa and are on track to achieve a margin on cost in excess of 40% against our original forecast of 25%.

Results: Having invested just 10% plus costs to complete the purchase, we will achieve in excess of 40% margin on cost and a gross yield of 13.6%.
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Omega Works, E3

  • Build: Inspired Construction
  • Size: 5,646sqft
  • Use Type: Office & Live/Work to Residential Conversion
  • Timescale: 26 months

We initially bought the first 3,000sqft floor at auction for £345k.  Once we discovered a neighbouring application had been submitted for conversion to residential that would set a precedent, we bought the second floor for £400k.

 

Precedent has since been set and we have now received planning consent for eight flats across the two floors.

 

We expect the margin on cost to be around 100% and the ROCE to be extraordinarily high.

Results: We expect to achieve a margin on cost of around 100% within 2 years, against an original forecast of just under 40%.
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Homerton, E9

  • Build: Kaymac Construction
  • Size: 5,260sqft
  • Use Type: A4 & C3 Residential
  • Timescale: 12 months

This site in Homerton has great transport links providing easy access to both the city and the ever-growing Creative and Tech hubs of East London.

 

Purchased for £630,000 and with full consent for demolition and the construction of a 5-storey building by our partner construction company, Kaymac, this property is certain to provide a healthy return. We will alter the consented ground floor use from A4 (drinking establishment) to A1 (retail), which is allowable under planning regulations, thereby enhancing the value of the existing planning consent. The layout of the flats above will be enhanced from the existing consented scheme of 4 x 1-bed and 2 x 2-bed flats to 4 x 2-bed and 2 x 3-bed flats.

 

We expect to significantly outperform our original forecast of 37% margin on cost.

Results: We expect to achieve a 37% margin on cost.
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Garratt Lane, SW17

  • Build: Inspired Construction
  • Size: 600sqft
  • Use Type: C3
  • Timescale: 12 months

We had fully let the flat within a week of completing the works, which took 12 weeks and cost £45k.

 

The works consisted of a comprehensive refurbishment including replacing the roof, drainage system, internals, kitchen and bathroom as well as decorating the common parts and furnishing throughout.

 

We achieved a yield in excess of 13%pa; returned the investors’ equity through a refinance after just 7 months at a valuation of £280k; and are on course to achieve a 58% margin on cost against our original forecast of 27%.

 

Agents have guided £335-350k and we intend to sell it after two years.

Results: 58% margin on cost (against our forecast of 27%) within 6 months and achieved a gross rental yield in excess of 13% pa.
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