Opportunity:
This property in Mayhill, Swansea presents an excellent opportunity for conversion into two self-contained flats. The existing floor plan is highly suitable for this purpose, requiring only the addition of a simple stud wall to create the separation.

Key Features:

• Two bathrooms (one upstairs, one downstairs), making the layout ideal for two units.

• Ample living space to accommodate two two-bedroom flats comfortably.

• Plenty of on-street parking, which adds convenience for future tenants.

• Located in an area where flats perform very well in the rental market.

Strategy:

1. Offer & Legal Process:

   • Secure the property by getting the offer accepted.

   • Begin the legal process with minimal upfront cost (e.g., paying for searches).

2. Pre-Planning Application:

   • Submit a pre-planning application to Swansea Council immediately after offer acceptance.

   • Expect feedback within 2–3 weeks, confirming whether any restrictions exist on converting to two flats.

3. Full Planning Application:

   • If the pre-planning response is positive, proceed with the full planning application while the legal purchase process continues.

4. Exit Options:

   • If pre-planning feedback is negative, you can either withdraw from the deal or pivot to a flip strategy, selling the property after refurbishment.

Why This Works:

• Minimal structural changes required.

• Strong local demand for flats.

• Flexible exit strategies reduce risk.

Property Type: 3 Bedroom semi-detached house.

Number of Bedrooms (current): 4

Suggested Strategy: Convert into 2x 2-bedroom apartments

Reception Rooms: 2

Bathrooms/shower-rooms: 2

Agreed Sale Price: £120,000

Fair Market Value (DUV) as 2 apartments: £220,000 (£110,000 each)

In order to showcase a fair comparable report, both apartments and 2-bedroom houses within 1 mile of this house are considered, as well as a price per square meter consideration.

Comparable 1: On the market for £160,000: https://www.rightmove.co.uk/properties/166479548#/?channel=RES_BUY

Comparable 2: Sold STC £150,000: https://www.rightmove.co.uk/properties/165739091#/?channel=RES_BUY

Comparable 3: Under offer £145,000: https://www.rightmove.co.uk/properties/165293999#/?channel=RES_BUY

Comparable 4: Sold STC £135,000: https://www.rightmove.co.uk/properties/166085393#/?channel=RES_BUY

Comparable 5: On the market £134,000: https://www.rightmove.co.uk/properties/167669282#/?channel=RES_BUY

Comparable 6: Sold £192,000: https://www.rightmove.co.uk/house-prices/details/cb7a6942-bd0f-4cc5-accd-10419cfd14a5

Comparable 7: Sold £156,000: https://www.rightmove.co.uk/house-prices/details/88becc19-daeb-40ba-a099-613cda45a0d6

Comparable 8: 2 bed house sold £135,000: https://www.rightmove.co.uk/properties/161661689#/?channel=RES_BUY

Comparable 9: Small 2 bed house in need of renovation available for £125,000: https://www.rightmove.co.uk/properties/165831671#/?channel=RES_BUY

• Property 1: £1,901.41 per sqm

• Property 2: £2,500.00 per sqm

• Property 3: £1,802.33 per sqm

• Property 4: £1,890.91 per sqm

• Property 5: £1,342.59 per sqm

• Property 6: £1,542.17 per sqm

• Average price per square meter: £1,829.90

This property will produce 2x 60 square meter apartments. Price per square meter in the area x60 = £109,794.00.

BTL Figures:

Purchase Price: £120,000

Refurb Costs: £75,000

Legal Costs: £1600

Stamp Duty: £5,500

Survey: £450

Tiger Burrows Consultation Fee's: £3497

Estimated Rental Income: £1700 (£850 per flat)

New Mortgage (5%): £687.50

Stress Test Mortgage (6%): £825

Estate Agent Rates: £170

MOE: £170

Cash Flow Most Likely: £672.50

Cash Flow Stress Test: £535

Flip Figures:

Purchase Price: £120,000

Refurb Costs: £35,000

Entry Legal Costs: £1600

Exit Legal Costs: £1000

Stamp Duty: £5,500

Survey Costs: £450

Tiger Burrows Consultation Fee: £3497

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £2640

Total Costs for investor:  £169,437

Re-sale price (DUV): £180,000

Potential Profit: £10,563

Here’s your renovation schedule and costs:

• Rip Out – £1,500

• Waste Removal – £1,500

• Insulation – £2,000

• Sprinkler System – £4,000

• Soundproofing – £1,500

• Stud Work – £1,000

• Boarding – £2,000

• Electrics – £3,500

• Central Heating Systems – £4,000

• New Bathroom – £4,000

• Second Bathroom – £4,000

• New Kitchen – £5,000

• Second Kitchen – £5,000

• Plastering – £4,000

• Woodwork – £4,000

• Painting & Decorating – £3,000

• Carpet & Flooring – £3,000

• External Painting – £2,000

• External Garden Fence Work – £2,000

• Professional Services – £4,000

• New Utility Supplies for water, gas and electric: £6000

• building control fees: £1200

✅ Total Renovation Cost: £68,200 Plus 10% if you want the renovation fully managed = £75,020