RECENT PROJECTS
Many of our past and present projects are commercially sensitive and for GDPR compliance full details cannot be disclosed.
But here’s a little flavour of the types of buildings we have recently developed.Â
Retail to Residential (Ealing, 2015)
Background: A retail unit on a busy secondary parade with high footfall. the owner wound-down the business due to retirement but after 7 months on the market, was still unable to sell the shop for the asking price.
Solution: City Home Developments acquired the site within 9 days of initial viewing. We paid an initial goodwill consideration of 2% to the seller, followed by the full asking price upon completion of development work to create a 2 new studio flats in the premises.
Project highlights
• The retiring shop owner was free to retire with the capital needed from the sale;
• Our investors received all of their capital back plus a 10% return in less than 10 months;
• The area benefited from the addition of two very smart studios, to help ease the housing shortage in the area.
Shop to Residential (Harefield, 2017)
Background
A once popular local take-away was forced to close due to unfortunate personal circumstances with tenant, and the landlord with stuck with an empty unit that was costing him money every month.
Solution
City Home Developments obtained planning permission to repurpose the unit into two retail units and convert the upper floor into a self-contained flat.
Project highlights
• The landlord was freed from an expensive-to-run, difficult to let commercial unit, and handed back two smart, tidy and modern retail units which he let out in just 12 weeks.
• Rental yield jumped from 4% to 9%;
• New upstairs flat was sold in 3 weeks generating a cash-on-cash return of 20%
Land Development (Wimbledon, 2020)
Background
A residential plot of land on 0.3 acre, on a private road in Wimbledon. A stone’s throw from the iconic Centre Court. Due to a litany of botched planning applications, the plot lay empty for 12 years and suffered the stigma of being a lame duck site.
Solution
Our in-house architecture team scrapped the plans and started afresh with a new development angle and used our expertise of the planning system to get plans approved for a 9000sqft detached house. And then our in-house build team constructed it.
Project highlights
• From bare land to a grand house, asset equity increased by 205%
• Further uplift built-into the land with outline planning approved for a further detached coach house within the curtilage.
Residential HMO (Acton, 2018)​
Background
This oddly sized apartment was on the market for over 1 year and failed to sell. It was too big for the flat/apartment market and less desirable than a house. But it enjoyed an enviable position on the footstep of a major Crossrail hub station, just a 23 minute journey to Canary Wharf.
Solution
City Home Developments acquired the property directly from the vendor (no agent). After adding a second floor, we repurposed the property in a luxury 5-double ensuite room house in multiple occupancy; a Monday-Friday home away from home for City workers.
Project highlights
• Planning consent obtained and all works completed in less than 26 weeks;
• Creation of a valuable asset, generating 15% rental yield;
• Property value uplifted by 21%;
• Sold in 3 days of coming to market.
