Capel St. Mary was out 2nd property that we purchased in 2023.
The property had suffered a large amount of damage from a water leak prior to purchase. The agent had a sale agreed at £380k and over the Christmas period the property suffered a leak from a water main in the loft.
Leaders then relisted the property for £280k and put it up for auction. We managed to agree a purchase price of £270k the day before the auction went live and managed to secure the property and complete on the 2nd May 2023.
So how bad was it?
The video on the right shows the condition of the property on day of key collection. As you can see the majority of the damage per say had already been removed.
Unfortunately we don’t have access to the video of the actual leak itself however it was easily over ankle height!
The Rip out
With collection of the keys we got straight to work ripping out.
Some surprises come up throughout this process. Such as additional walls to remove and additional plastering.
As you can see, we quite quickly made a mess - I believe this video was 2 days after collection of keys!
Progress!
Ceilings and walls boarded and skimmed (more than we anticipated)
Black paving done in a great time, the rear patio was also done at the same time. Some fantastic work from the team!
Prep work for the bathrooms and hallway tiling was underway and in full swing.
Keeping a clean site throughout this job was of extreme importance for both the locals and for the team working on the job.
Finish line!
Just as quick as the project had started it was all over!
We unfortunately lost a lot of footage towards the end of the development. However the speed of works from the previous pictures to the final product was incredible. Even with some unforeseen delays, the project start to finish elapsed a total of 5 months.
We are incredibly happy with the end result of this development, and the investors that we worked with were extremely happy with the equity growth.
Many a lesson learnt from this project that will be applied moving forward!
