Latest Property Development

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https://www.youtube.com/watch?v=CDiuYd32J0Q

This is the latest properties that we are involved in. It is an old mill in Derby city centrre. This another joint venture with the property developer (Clifton Park Restorations) and a syndicate of other invedtors.
Purchase, Build, Finance and Fees £1,809,830.62
Sales
15 No. 1 Bed Apartments @ £90K £1,350,000.00
7 No. 2 Bed Apartments @ £110K £770,000.00
5 No. Workshops @ £30K £150,000.00
1 No. Ground Rent £50,000.00
Total GDV £2,320,000.00
Profit £510,169.38

Cash flow if retained:
15 x 1 bed @ £450 PCM = £6750
+ 7 x 2 beds @ £475 PCM = £3325
Total = £120,900 rent roll annually
- Mortgage @ 5% on £1.3m for finance = £65k
- 15% voids = £18k
- 6% management = £7k
- maintenance and insurance = £9k
=99k total
= 21k Net
= 5.5% gross yield
Second model
Include 8 Serviced apartments on Booking.com and Airbnb
4 x 1 bed @ £60 per night @ 50% occupancy = £900 x 4 = £3600 PCM
4 x 2 bed @ £75 per night @ 50% occupancy = £1125 x 4 = £4500 PCM
11 x 1 beds remaining = £450 x 11 = £4950 PCM
3 x 2 beds remaining = £475 x 3 = £1425 PCM
Total = £173,700 PA
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