Case study | Princes Court, Rickmansworth Road, Harrow
ElliotLee are retained by some very active clients, and through one of our local connections a 2 bed bungalow was offered to us under exclusive terms. After completing a fully feasibility study our valuations team were astonished that no one had spotted the scope of this development opportunity. The property itself was in distress, and in need of modernisation. However after careful evaluation (i.e identifying the building lines, the plot size, and parking available); it was clear that the true value was in the land. A real opportunity could be created for a developer to demolish and build a collection of apartments, quadrupling the revenue potential for a developer.
In consultation with our trusted town planner and architect, ElliotLee were
able to demonstrate the development potential through a detailed feasibility study. Contracts were then agreed for us to present the opportunity to a small selection of our retained land buyers – of whom one acquired within two weeks of seeing our proposals. That client then went on to work alongside our planning team, successfully obtaining permission for four 2-bed-2-bath apartments with communal gardens, which all sold for handsome gains through the ElliotLee estate agency – a typical example of ElliotLee not just identifying opportunities, but creating opportunities for our developers.