We are currently in the process of converting an existing three-bedroom terraced house into a six-bedroom, all ensuite co-living HMO based in the heart of LU1. Located on Cowper Street, the property is within walking distance of both Luton train stations, Capability Green business park & within a 10 minute drive of both London Luton Airport, Luton & Dunstable NHS Hospital and Junction 10 of the M1 motorway.
 
It is our intention to complete the development, rent out the rooms to local young professionals and then refinance the project extracting equity to use for our next development project within a 12 months period.

The project includes:
- Working with architect & structural engineer to remodel and extend the existing property.
- Submitting planning permission, change of use class application and working alongside local building regulation teams.
- Extending the property by over 38% of the existing footprint (now totalling circa 1353.6sqft).
- Completing the project with Luton Borough Council granting a HMO license for a maximum of six tenants.

The construction works included:
- Demolishing the existing layout of the previous property.
- Extending the property at second floor (by way of L-shaped dormer loft conversion).
- Landscaping to the rear of the property.
- Creation of 6 en-suite bathrooms located in all 6 bedrooms.
- Refurbishing existing 4 bedrooms in the property, and creating 2 brand new rooms in the extension.
- Remodelling the entire house to suit modern day, open plan rental living.
- Full property interior design.

Timescale: Six months (January 2025 - May 2025).
Contract value: £170,000
Gross Development Value: £525,000