North East

Axxco sourced and supported an investor to secure a property in the North East of England for £80,000 from the open market, with the purchase price and rental terms pre-negotiated with a housing association. Our in-house specialist build team completed a £36,000 renovation over 4-6 weeks, converting the property into a four-bedroom home with a total investment of £116,000. Now generating £13,520 in annual rent, it achieves an 11.6% net yield. Leased to an FTSE 250 housing provider for 7 years with renewal options, the property provides essential housing for vulnerable tenants, including those with accessibility needs.

Renovation Details

Our in-house specialist build team transformed the property into a four-bedroom home, surpassing housing association and HMO standards with a focus on safety, comfort, and inclusivity.

Key upgrades included:  

• ‍Safety Improvements: A new consumer unit with interlinked smoke and CO2 detectors was installed, alongside fire safety signage and fireboards in key areas like the boiler cupboard and loft hatch. A new gas boiler, radiators, and certified pipework ensured compliance. Fire doors with frames, smoke seals, auto-closers, and thumb-turn locks were fitted throughout, paired with emergency lighting and window restrictors for enhanced safety.  ‍
• Structural Modifications: Internal walls were reconfigured to create four bedrooms, with a minimum size of 6.52m² per room. Walls were stripped, insulated, boarded, and skimmed, and ceilings were overboarded and skimmed. A former bathroom was repurposed into a bedroom, and a new toilet room was added with plumbing and a wash basin.  ‍
• Comfort Enhancements: A new kitchen was installed with modern cabinets, worktops, tiled splashbacks, and energy-efficient appliances (cooker, washing machine, fridge-freezer, microwave). The bathroom received a modern suite with a mixer shower and extractor fan. Bedrooms and living areas were fitted with new carpets, lino in wet areas, and furnishings, including four wardrobes, chests, beds with PVC mattresses, a dining table with chairs, and a sofa.  ‍
• Accessibility Features: Modifications like raised handrails (900mm), elevated banisters (1100mm), and privacy film on glass ensured the property meets diverse resident needs.  ‍
• External Works: The roof and gutters were secured, with broken sections replaced. The rear yard was landscaped, with paving repaired, a new gate fitted, and external walls repainted. Boundary fences were reinforced for security.  ‍
• HMO Compliance: The property meets full HMO licensing standards with UPVC double-glazed windows, fire doors, and a doorbell with dual sounders, offering flexibility for future repurposing.  

Finishing Details: Vertical blinds, architraves, skirting, and a fire blanket were added. Damp proofing, new loft insulation, a secure loft hatch, and a final professional clean ensured a high-quality handover.

Overview

The property is supported by a 7-year lease with an FTSE 250 housing provider, guaranteeing monthly rent via BACS, no void periods, and zero management fees. Maintenance, inspections, council tax, and utilities are fully covered, with a novation clause protecting the investor from provider insolvency. All work is guaranteed for 2 years and complies with UK Building Regulations, with certificates provided for electrical, gas, fire alarm, emergency lighting, and building standards.