Latest Project
21 Springfield Road, Wimbledon SW19 7AL
Our latest project is a large semi-detached house in the desirable South-West London suburb of Wimbledon, which was purchased at a heavily discounted price of £1.3 million. The property required a complete refurbishment, and these works were completed in summer 2024 by our construction company at a cost of £600,000. Now completed, the value of the house has increased to £3 million, giving us a gross profit of over £1 million.
The purchase price was significantly below the original asking price of £1.6 million. Still, our negotiating power was strengthened by economic uncertainty in 2023 and the vendor was motivated by our offer of a quick sale. Two weeks after the exchange, a local agent provided us with an offer from one of their clients to purchase the house from us for £1.8 million. However, we chose to proceed with our original development plan for the property to achieve the entire £1m+ profit.
Key Property Details
Attractive 2,655 sq ft six-bedroom period property
Extended with a rear & 2nd-floor extension
Well-located to shops, cafes and bars in Wimbledon
Proximity to the green spaces of Wimbledon Common
Financial Information
Purchase price – £1.3m
Construction Costs – £600,000
Valuation – £3m
