Property Details
A rare opportunity to acquire one of two barns to convert into a lovely three bedroom family home or even as a Holiday Let, located in the quaint village not far from one of the lovely Blue Flag beaches in Porthcawl.
Porthcawl is an attractive seaside holiday resort that has a number of beaches and is very popular with surfers. It has one of the largest caravan sites (Trecco Bay) in the country and has a popular world-renowned golfing resort.
The town hosts a number of events including the worlds largest ‘Elvis’ weekend event, as well as many others. It also has the famous Coney Beach Fairground.
Porthcawl is currently undergoing a huge regeneration program that is attracting more tourism and investment all of which is pushing up demand for housing and holiday lets.
We have secured a deal to purchase the largest of two barns within a parcel of land that is situated in a prime location. The land will benefit from having a gated private shared drive.
The barn already has planning permission to convert into a lovely three bedroom property and or a holiday let. Demand for property in the area is huge and dramatically increasing year on year not only for new housing but also for rental and holiday letting with an average 70% letting occupancy year on year.
The area has a huge variety of properties ranging in price from £100k to over £2 million.
Investment Proposals
- Purchase Price: £198,000.00
- Legal Fees: £1800.00
- Stamp Duty: £6,550.00
- Sourcing Fee: £
- Estimated Refurbishment Cost: £180,000.00
- Architect and Engineers Fees £6,000.00
- Infrastructure costs £5,000.00
- Project Management Fee: £
- Total Acquisition cost: £415,950.00
As a flip the potential Profit is £145k to £195k
Estimated Residential Rental Income PCM would be:
£11,400.00 per annum
Holiday Letting Income based on 70% occupancy would be:
£39,000.00 per annum
Future Market Value of the Barn would be
£549,000.00 – £599,000.00
Proposed Refurbishment Works
Complete conversion of the barn into a modern three bedroom property with landscaped garden and driveway
