37 Yeoman Street
37 Yeoman Street
Location: Surrey Quays
The 3 bedroom, 2 bathroom top floor flat had been a rental property not quite achieving the rental returns the owner was looking for. The aim was to attract young professionals working in Canary Wharf, hence it was important to make the property appealing to this demographic. The property lacked light, and felt small, even though it benefited from very large windows and internal space. A separate windowless kitchen which had not been renovated since built with low ceilings made it feel very cramped and undesirable. The sunken ceiling in the kitchen and partition between the kitchen and living room were removed to create double height ceilings and an open plan kitchen / living room. Light colours were used throughout to ensure the property would feel airy and attractive. The pre works valuation was £480,000, following a 4 week refurbishment and furnishings the valuation reached £700,000. The pre works rental achieved was £28,000pa post works £37,200pa, giving the landlord a rental increase of 29.17% and an asset value increase of 48.83%. The property was let within 3 weeks of the works completing and could now be called a penthouse!
