Purchased January 2020

641 Duke Street,
Glasgow, UK

Initial Purchase

Initial Purchase

£ 70k

Done up Value

Done up Value

£ 130k

Annual gross rent

Annual gross rent

£ 14,220




About this opportunity

We purchased this one bed flat, and added a second bedroom, to purpose build this for a serviced accommodation.

Our agent had contracts with local businesses and they accommodated their travelling workers to this unit.

We initially had difficulties getting this project off the ground, due to the Covid-19 breakout, however once the restrictions were eased, the market had a positive change.

We decided to off load this unit from our portfolio in early 2023. This was due to the management involement required in this type of strategy, and we decided this was not conducive to our time.

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Purchase Price £70,000
Build / Renovation £23,000
All other costs £7,140
Total Initial Costs: £100,140
Market Value £130,000

Monthly Income

Rent £2,448.54
Operational Expense (@15%) £1367.28
Management Fee (@20%) £489.71
Mortage (@5%) £406.25
Cash Flow £1,185.30