Revenue increased to £53,560 per year. An average saving on costs over the 3 years of 9% per year bring the total increase in performance of the asset to an average of 24.53% per year.
Family Office Client
Owning apartment building
Property: Commercial with 3 x 1-bedroom flats above:- off St Johns Wood High Street
Property Wealth Management instructed 10/3/2017
Flat 1 - not let
Flat 2 - not let
Flat 3 - let at £290 per week
Total revenue at time of Property Wealth Management instruction £15,080
The properties had been empty for 3 months being managed by a well known international estate agency.
A Win for the Client
Property Wealth Management turned around the investment.
After minor works the properties were soon let:
Flat 1 - £350 per week
Flat 2 - £340 per week
Flat 3 - £340 per week
Minor works and re-letting took 21 days with overall rent increased by 15.53%
Revenue increased to £53,560 per year.
An average saving on costs over the 3 years of 9% per year bring the total increase in performance of the asset to an average of 24.53% per year.