1 Stithians Row
Auction BRR delivering £1,500 pcm rental income and full capital recycled on refinance.
Property Details
- Type
- Detached House
- Bedrooms
- 3
- Bathrooms
- 2
- Strategy
- BRR
- Timeline
- BRR — refinanced and let, 2024
Why This Deal
An auction purchase through Pattison at £122,000 with a clear BRR thesis. The property needed a full renovation but the area supported strong rental demand and valuations well above the total investment. The plan was straightforward — renovate to a high specification, refinance onto a buy-to-let mortgage at 75% LTV against the end valuation, and recycle the investor's capital back out of the deal.
Financials
Investment breakdown
Scope
What we did
Full renovation to a high rental specification — new kitchen, bathrooms, flooring, decoration, and external works including landscaping.
- Full internal renovation
- New kitchen with shaker units and wooden worktops
- Two new bathrooms with marble-effect tiling and walk-in showers
- Exposed stone fireplace feature in living room
- New flooring — LVT downstairs, carpet upstairs
- Full redecoration throughout
- New staircase with oak and white spindle balustrade
- External landscaping with gravel driveway and garden
The Deal
1 Stithians Row was an auction purchase through Pattison, acquired for £122,000. The property needed a comprehensive renovation but the fundamentals were strong — a detached house in an area with solid rental demand and valuations that supported a full BRR cycle. The strategy was to renovate to a high specification, refinance against the uplifted value, and return the investor’s capital while retaining a cash-flowing rental asset.
Funding was structured through bridging finance — a £69,122 loan advance with the balance covered by investor capital.
The Numbers
Full transparency on every cost. These are the actual figures from the deal.
Acquisition costs:
| Item | Amount |
|---|---|
| Purchase price | £122,000.00 |
| Pattison auction fee | £7,320.00 |
| Deposit (5%) | £6,100.00 |
| Purchasing solicitors | £6,658.43 |
| Stamp duty (SDLT) | £6,100.00 |
| Valuation fee | £1,221.00 |
| Bridging loan lender solicitors | £827.00 |
| Bridging loan — own solicitors | £2,080.60 |
| Bridging loan fees (upfront) | £2,240.00 |
| Bridging loan advance | £69,121.92 |
Renovation:
| Item | Amount |
|---|---|
| Renovation costs | £59,610.12 |
Refinance & outcome:
| Item | Amount |
|---|---|
| End valuation | £320,000.00 |
| Buy-to-let mortgage (75% LTV) | £240,000.00 |
| Dual rep solicitors (refinance) | £1,707.00 |
| Bridging loan repayment (inc. interest) | £66,588.64 |
| Refinance advance back to investor | £171,655.36 |
Ongoing:
| Item | Amount |
|---|---|
| Rental income | £1,500 pcm |
| Mortgage repayments (interest only) | £1,166.64 pcm |
The Outcome
The property was renovated to a high specification — exposed stone fireplace in the living room, new kitchen with shaker-style units, two modern bathrooms with marble-effect tiling and walk-in showers, and a fully landscaped exterior. The end valuation came in at £320,000, allowing a refinance onto a buy-to-let mortgage at 75% LTV that returned £171,655 to the investor.
The property now generates £1,500 pcm in rental income against interest-only mortgage repayments of £1,167 pcm — a strong cash-flowing asset with the investor’s capital almost entirely recycled and available for the next deal.
Outcome
The results
Renovated to a high specification and refinanced at £320,000 — returning £171,655 to the investor and generating £1,500 pcm rental income.
- End valuation of £320,000 (£198k uplift on purchase)
- Buy-to-let mortgage at 75% LTV — £240,000
- £171,655 returned to investor on refinance
- Rental income of £1,500 pcm
- Interest-only mortgage repayments of £1,167 pcm
Interested in projects like this?
We're always sourcing the next deal. Book a call to discuss current opportunities and find out how your capital could be put to work.
Free 30-minute call · No obligation · Speak to the founder directly