Rental Renovation Success: Over 100% Increase in Rental Income
| Property Type: | 3-Bedroom Apartment |
| Location: | Cleveland Gardens, Westminster |
| Client: | Portfolio Landlord |
| Postcode: | W2 |
| City: | London |
| Services: | Refurbishment, Interior Design |
| Result Achieved: | Increased monthly rent from £4,100 to £8,500; property leased by first viewer |
The Challenge
Cleveland Gardens, situated in the sought-after W2 area of Westminster, was not garnering the market attention anticipated despite its prime location. The existing 4-bedroom lateral apartment was outdated and failed to meet the evolving needs of the target market, resulting in stagnant rental income and prolonged vacancy periods. The portfolio landlord sought a strategic refurbishment to enhance the property’s appeal and significantly boost its rental yield.The Approach
InStyle Direct undertook a comprehensive refurbishment project aimed at transforming the dated apartment into a modern, highly desirable living space. Our team focused on optimising the layout and enhancing key features to attract discerning tenants. Key steps included:
- Reconfiguring Layout: Converted the original 4-bedroom apartment into a more spacious and functional 3-bedroom unit, prioritising a larger master bedroom with a walk-in wardrobe and en-suite bathroom.
- Contemporary Staircase: Replaced the outdated block staircase with a sleek, contemporary spiral staircase, adding a modern touch and improving space utilisation.
- Ironmongery Upgrades: Updated the ironmongery on windows and doors to enhance durability and aesthetic appeal.
- Modern Kitchen: Installed a fitted kitchen with spray-painted cupboards, blending functionality with modern design.
- Bespoke Bathroom: Crafted bespoke furniture for a fully fitted bathroom featuring large marble Corian wall tiles for a luxurious feel.
- Walkway Redesign: Redesigned the walkway cupboard and replaced fussy, dated wall panelling with upgraded contemporary versions.
- Painting and Wallpapering: Applied new paint and wallpaper throughout to create a fresh and cohesive look, restoring the Art Deco apartment to its former stucco Bayswater glory while incorporating modern property benefits.
The Outcome
The refurbishment project at Cleveland Gardens was a resounding success. The strategic updates and modern design elements significantly increased the property’s rental appeal. The transformation resulted in the monthly rent soaring from £4,100 to £8,500, and the apartment was leased to the first interested viewer. The sleek spiral staircase, contemporary kitchen, and bespoke bathroom fixtures created a luxurious yet functional living space that perfectly catered to the needs of today’s tenants.
Key Results:
- Increased Rental Income: Monthly rent doubled from £4,100 to £8,500.
- Quick Lease-Up: The property was snapped up by the first viewer, demonstrating high market demand for the newly renovated property
- Client Satisfaction: The landlord is highly satisfied with the results, leading to further refurbishment projects in the pipeline.
- Enhanced Property Appeal: Modern design enhancements made the property stand out in a competitive market.
- Return on Investment: Significant rental increases and reduced vacancy rates highlight the financial benefits of the refurbishment.
Partner with InStyle Direct for Stunning Results
At InStyle Direct, we specialise in transforming properties to meet the unique goals of developers, landlords, and homeowners. Whether it’s enhancing stock units for sale or furnishing rental properties, our tailored services deliver exceptional results. By centralising all refurbishment and interior design needs under one roof, we ensure a streamlined and cohesive approach that maximises your investment and enhances the overall appeal of your property. Contact us today to see how we can help elevate your property.
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