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Office-to-residential Conversion into 12 Flats and 6 Studios

Northgate Court, 21-23 London Road, Gloucester, Gloucestershire, GL1 3HB

The Location

Northgate Court is located just a short walk from Gloucester’s historic city centre, providing residents with easy access to retail, transport, and cultural amenities. London Road is a key arterial route, making this development particularly attractive to young professionals and renters seeking convenience and accessibility in a compact urban setting. 

The Strategy

Joint Venture with Sale of own units

Units Delivered

18 (12 flats, 6 studios) 

Financials

  • Purchase Cost: £500,000

  • Conversion & Professional Fees: £680,000

  • Finance Costs: £28,000

  • Total Costs: £1,208,000

  • GDV: £1,710,000

  • Profit: £502,000

  • Profit on GDV: 29.36%

Current Status

Completed

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