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Your capital is at risk and investments are not covered by the Financial Services Compensation Scheme (FSCS).

OVERVIEW - CASE STUDY - Serviced Accommodation

Please note that all the information provided below and in the following tabs has been supplied by Prime City Developments and that this has not been verified by LEOpropcrowd.

Pamela and Sean Lindsay are experienced property developers and residential landlords, with a portfolio of properties worth over £8m in Central London. They specialise in identifying and maximising opportunities to add value to their investments and have gained a wealth of construction, financing and deal-hunting knowledge in their 20+ years in property.   

Blackstock Road was Pamela and Sean’s first major renovation project, involving the conversion of a Victorian terraced house into 3 self-contained flats.



The property at 93 Blackstock Road was a single dwelling when Pamela and Sean first purchased it in 2004. They recognised the growing demand for smaller, cheaper accommodation particularly in London, so they decided to convert it into 3 separate, self-contained flats. The overall layout comprises a 4-bedroom flat on the ground and lower ground floors, a 2-bedroom flat on the first floor, and a 2-bedroom maisonette on the top floor. The project involved close liaison with Hackney Council’s Planning and Building Control departments to complete the project and they also had to satisfy a number of Health & Safety requirements.




FINANCIALS

Acquisition Date:                          August 2004
Initial Purchase:                           £420,000 
Development Cost:                      £160,000
Total Costs:                                £580,000
  
Estimated Current Value:         £1,850,000 

Breakdown: 
4-bedroom Flat:                         £800,000 
2-bedroom Flat:                         £500,000 
2-bedroom Maisonette:             £550,000 

Project Duration:                       9 months 
Annual Rental Income:             £62,400



Pam Lindsay

Director
    Pamela Lindsay  

●     Natural leader with excellent communication and interpersonal skills 
●     Master negotiator 
●     Excellent business instincts
●     Experienced at achieving difficult planning approvals, e.g. A1 to C3 use class. 
●     Graduate in Business Studies
●     Passionate about property education and has attended numerous relevant property courses (both commercial and residential).

Sean Lindsay

Director

  Sean Lindsay   

●     Hands-on Master of All Trades 
●     Vast first-hand experience in engineering of new builds, conversions and quantity surveying
●     Excellent eye for details
●     Experience with dealing with Building Regulations and Listed Building Consent 
●     Excellent management and leadership skills 
●     CDM and Health & Safety Experience

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