Located in the trendy and central district of St. Werburgh's, this two-bedroom Serviced Accommodation unit has maintained a consistently high yield. Designed for four to six guests, its top-notch decor, spacious layout, and three bathrooms ensures that guests leave satisfied and eager to return.
This is a two bed end of terrace house located in the increasingly sought after district of St Werburgh’s. Having asked a local agent for a ‘seriously honking property in need of extensive work and with good margin,’ they offered this. It needed a full rewire, new central heating, new windows and doors and extensive damp treatment including the replacement of the main bedroom and bathroom joists.
The Plan
The plan was to keep it as a two bed house, but to open the downstairs into a kitchen-diner layout and install an en-suite bathroom in the front bedroom. It was James’s first Bristol project and so to learn, he decided to manage the work himself instead of through a single contractor. He would do ‘everything destructive and hire trades to do everything constructive.’ He learnt a lot. The work included:
Remove two structural walls and two chimney breasts to create a kitchen diner
Damp proof all downstairs walls
New windows and doors throughout
New kitchen and bathroom
Install an en-suite bathroom
Replace bedroom and bathroom floor joists
New brick wall and garden
The Exit
Serviced Accommodation
St Werburgh’s is a popular area with a number of breweries and local restaurants. Being easily accessible to the M32 and yet only a 15 minute walk from the town centre, it was in a good position to provide short stay accommodation for both business and leisure guests.
Sell
The original plan was to sell the property on for a profit following refurbishment. The area enjoys high buyer demand which made the ‘buy-to-sell’ (BTS) option a viable one.
Buy-to-Let
The last option was to let the house out to a long term tenant. For the same reasons as above, there would have been plenty of demand. This would have been a hassle free but lower yield option.
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