Room to build?Make Text Bigger
As a BTL investor I have turned recent attention to refurbishment and development. The aim has been to generate more cash to buy more BTL. I have just finished a 2 storey extension to my main residence and reaped the financial benefits of this.
During my search, I have recently viewed a Victorian semi detached property with land to the side accommodating a gateway to the rear garden and a double garage – approximately 6.5m wide in total. This got me thinking – would there be enough room to build a new property? Would I be allowed to turn the purchased Victorian semi (and the neighbours existing) into a row of terraces or would this not be required with 6.5m anyway?
There is no other immediate planning restrictions that spring to mind as the side elevation is next to a car park and there is ample rear garden space. There would be enough room for one car on each driveway.
Any advice would be greatly appreciated before I submit my offer.
Also current situation is thus:
full time employed with 5 BTL properties in sole name and 1 home residence.
1 x btl property in ltd company
What would be the best strategy for the semi?
Buy semi in sole name and move in whilst build new in sole name/LTD?
Then move into new build and sell semi?
There would be potential to stay living where I am although I may struggle with finance to fund the build.
I’m single and flexible in terms of where I live. The houses in question are on my road anyway so happy to move!
Any advice would be greatly appreciated!
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