The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

A Mixed Bag

Tim Hodges, Acquisitions Director of the Vincit Group, comments

We recently acquired a house in Earlsfield, SW18 which we had intended to develop into a 2,000 sq ft four-bed house with a £1.2m GDV. It had multiple leaks, a forest as a garden with each room piled high with everything from unopened Amazon parcels to sealed bags of chilies.

It took eight skips to clear it, leaving us with one hell of a blank canvas to paint.  Part of the loft had been developed though sadly it would need to be redone in-order to extend fully but structurally the whole house is sound. I say we had intended to develop this but we decided to flip it as it’s the worse house on the best street where we can make just a tad lower profit but in a shorter space of time.

We have it on the market for £1m for homeowner buyers for the two-week period before Christmas but intend to sell it at Savills February auction if no buyers are found. It’s one I would have loved to develop especially as it’s very close to me but our strategy for now is to trade on new stock until we know more about market trends in the New Year.

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