Should I convert lounge and add 3rd bedroom?

Should I convert lounge and add 3rd bedroom?

11:21 AM, 20th May 2021, About 8 months ago 21

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Hello, I wanted to get some advice on a flat I have in Central London near Canary Wharf. The property is a 2 bedroom new build property (constructed in 2017). It has been occupied by the same tenants since it was built.

In addition to the 2 bedrooms, there is 1 bathroom, and a large combined kitchen and living area with a balcony. The kitchen area is 3.72m x 2.77m and the living area is 4.08m x 3.72m which has a large balcony attached to it. I cannot seem to attach a floor plan.

I want to add a 3rd bedroom to the property by building a wall and door dividing the kitchen and living area. This would leave a reasonable size of kitchen/living space with space for a dining table and sofas/tv. The 3rd bedroom would have exclusive access to the balcony.

If I build this wall, it will create a much reduced living area for the existing tenants.

I want to get your views on this as I am unsure if I should go ahead with it and risk losing the tenants but have an increased rental income.

Thank you
Dec



Comments

by Barbara Gwyer

11:51 AM, 24th May 2021, About 8 months ago

Personally I would think very long and hard. Canary Wharf and the City are like ghost towns at the moment with so many people working from home. This is making 3-bed flats on an AST very difficult to rent - tenants might not mind being on top of each other in cramped accommodation when they're going out to work but not when they're there 24/7. Plus you say only one tenant will have ready access to the balcony making the property even less appealing to sharers. On the other hand, if you go the room by room route, again you're going to face the limited outside space issue and by the time you've paid for the utilities bills will you really be making that much more money?


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