We acquired a 900 sq. ft. 2-bedroom, 2-bathroom flat in a prime post code in the heart of St John’s Wood for £850k. The original plan was to undertake a high-spec refurbishment with a £200k budget, targeting a resale at c.£1.4m (£1,500/sq. ft.). After securing a license to alter and investing a further £75k in associated costs and fees, our total equity commitment stood at £925k. Rather than proceeding with the works, we capitalised on market interest and sold the unit as is for £1.1m. The result was a profitable exit with minimal development risk.
