Young city professionals who wanted to renovate their existing rental property to rent it to high-end tenants. The client inspired to have a modern, open plan kitchen seen commonly in magazines. However, as the property was primarily for rental, the client wanted to focus on upgrades which would increase the monthly rental and ultimately create the highest rental income with minimal cost.
The client required a single storey side extension with a steel integration into the floor. Inside, the client required a complete refurbishment including under-floor heating, a new kitchen and kitchen island. Front landscaping with Victorian tiles was also required to match the old existing décor.
The client stipulated that all upgrades had to be focused on increasing the monthly rental income they could charge, with better upgrades resulting in more rental income. Plus, the cost of such renovations had to result in a higher valuation of the property. However, whilst the client was focused on rental income in the short-term, they did want to eventually live in the property at a later stage. This created a delicate balance between personal tastes and maximisation of the rental yield.
We recommended and enacted a series of improvements to areas of the property which not only allowed for more rental income, but also improved the living quality of the home and were suitable for a varying range of tastes.
Firstly, a premium open plan kitchen was installed with an open plan “three point” layout and kitchen island. This not only created efficient kitchen space, but also resulted in an aesthetically beautiful focal point of the home. A careful balance in cost was sought to make sure that the kitchen lived up to the expectations of high-end tenants whilst resulting in a positive return on investment.
Alongside this, we also advised the clients to enlarge and upgrade their bathrooms whilst introducing other features known to increase property value and desirability. We also produced loft designs which are intended to dramatically increase the house value above all other changes. The client intends to implement these designs at a later date when finances allow.
Near the start of the project, Bischell engineers noted that none of the walls or ceilings were level, which is common of old Victorian properties. In order to fit the new modern kitchen with a high quality finish, the walls and ceiling had to be made level whilst the suspended floor was screeded. This averted any potential problems of installing an expensive kitchen in this state, as it could result in large gaps throughout the kitchen. By identifying and remedying this problem early, costs could be factored in to avoid disruption further into the build project.
Another large challenge was the insertion of steel beams into the existing first floor structure to create a seamless finish for the extension. The most cost effective solution was found by pinning the house with needles and props.