Transforming a dated property into a modern, high-performing investment
When Sam, the owner of a property in Barnsley, sought to increase the value of her long-term investment, they engaged Leah Jay’s Investment Services team for expert advice and management. Having owned the property since 1991, this was their first major renovation since purchase, and they wanted to ensure the upgrades delivered strong returns.
The Challenge
Having not had any improvements made since it was purchased, the property was showing significant wear and required extensive updates to meet modern tenant expectations. The owner needed support to scope, coordinate, and oversee the project from start to finish, ensuring quality workmanship and minimal vacancy time once complete.
The Solution
Matthew Snedden from our Investment Services team developed a comprehensive renovation plan to revitalise the home inside and out. Works included a new kitchen, bathroom, and laundry, as well as new flooring, painting, and doors. Externally, the property was repainted, the roof was repointed and repainted, damaged window glass panels were replaced, and a new side fence was installed. During the renovation, additional damages such as cladding and floor issues were uncovered and repaired, ensuring the property was structurally sound as well as visually refreshed.
The project took just over two months to complete. Thanks to the enhanced quality of the property and coordinated project management, the property was re-let to tenants within just eight days of completion.
The Results & Client Testimonial
The renovation delivered impressive results for the owner. The total spend was approximately $140,000 and the property’s weekly rent increased from $460 to $690, seeing an ROI of 8.5%. The estimated market value rose from roughly $500,000–$550,000 to $800,000–$850,000, representing a gain of around $300,000.
Both the owner and their accountant were extremely pleased with the outcome, noting not only the increased property value but also the potential tax benefits from the renovation. With the owner sharing that “the house looks fantastic now, definitely a major improvement over how it looked before the renovations!”.
The project demonstrates how strategic renovations, guided by expert management, can deliver substantial growth in both rental income and capital value.
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Key Takeaways
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- Engaging experts in project management helps owners navigate challenges and achieve confident, high-performing results.
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- With clear project planning and oversight, extensive renovations can be completed within tight timeframes while minimising vacancy periods.
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- Investing in quality upgrades ensures stronger returns and positions properties competitively in the market, ensuring long-term value.
Need property advice?
If you’re interested in exploring your property’s potential or would like to learn more about a Property Health Check, contact our Investment Services team today.
