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Ipswich Development

Project Details

Investment Opportunity: Purchase of land and construction of flats

Location: Upper Orwell Street, Ipswich, Suffolk

Bedrooms: 9

Background

This development is situated between Upper Orwell Street and Bond St in Ipswich town centre, in the county of Suffolk and is currently used as a small city centre car park. The site has access from two sides, from both Upper Orwell Street and Bond Street and is currently separated by a fence, giving great scope for redevelopment by considerably enhancing an existing area in great need of reviving.

 

Find out more

Our strategy was to purchase the land through a combination of private investment and a capital bridging loan, build the flats and then sell them off plan or immediately upon construction for a profit.

This small bespoke development scheme had full planning permission granted for 9 flats, made up of three, three storey buildings each consisting of 3 units. Each block comprises of 2 x 1 bedroom flats and 1 x 2 bedroom flats.

The development was completed to a high specification and the flats were valued and marketed for sale at £1.2m in total. Once sold the whole development project will yield a total net profit of £211,206.  

Financial Overview

Purchase Price

£170,000

Purchase Costs & Fees

£144,294

Cost of Development

£674,500

Total capital outlay

£988,794

 

 

Development Value

£1,200,000

Total Costs

£988,794

Total net profit

£211,206

 

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Team MODUS

Get in touch

Modus Property Limited

Modus House, 100a Wakefield Road, Lepton, Huddersfield, West Yorkshire, United Kingdom, HD8 0DL

Phone: +44 (0)1484 971065

Email: hello@modus-property.com

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