Short Lease & Reconfiguration Project - North London

Description of the Deal:

-Direct to Vendor Opportunity - Secured Of Market through our internal marketing campaign.

-Short Lease 1 bedroom flat in North London with the potential to reconfigure into a 2 bedroom flat.

-Lease length: 54 years (Section 42 notice to be served by the vendor on completion)

Joint Venture Opportunity Available:

This is an amazing opportunity to invest with AP Property Portfolios for a 50/50 share in the profits. We have already done a development in the area and have established a strong power team of professionals who we have an ongoing relationship with.

What are we working on? 

You already know! We have secured a short lease, 2x bedroom flat in Kent, well below market value. This is our goldmine area & AP Property will be utilising our existing power team to get this project completed.

What is the plan?

1. Due diligence - Survey to be completed and comparables to be provided.

2. Establish an SPV company between Joint Venture Partners and write up legal agreements.

3. Obtain freeholder consent for alternations, ensure Section 42 Notice has been served by the vendors & begin finalising the quotes for work.

4. Purchase the property - Aiming for exchange with a delayed completion.

5. Commence on site and begin the full back to brick refurbishment.

6. Begin lease extension negotiations - going down the s42 route.

7. Sell the property using our in house team.

8. Capital loans paid back to Investors as a priority.

9. Profits split 50/50 between both Joint Venture Partners.

This is an opportunity to Invest in a project, sourced and managed by AP Property for a share of the profits.

The Numbers Breakdown

End Value - £330,000

Refurb - £50,000

Lease Extension - £50,000

Stamp Duty - £5,500

Legal Fees - £5,000

Purchase Price £155,000 - 160,000

Profit - £60,000+ (Split between partners)

Exit Options:

Exit Option A: Sell the property

Exit Option B: Refinance the property & run this as an Airbnb or Buy-to-Let with the idea of selling at a later date.

Holding costs and finance is not included within the breakdown as this will depend on the structure of the deal and individual circumstances.

Reach out today to register your interest.

If you would like to register interest in this property, please send your proof of funds to alex@approperty.uk and we will be in touch. There will be a buyers fee to secure the property and take it off market.