Mood shots - "before"

Could call it the "calm before the storm"

Can't help but feel a little "romantic"  and philosophical about time. Life gone by, etc. 

Semiotic layers fading. 

Call taken. (For the better or the worst)

It has been a very difficult decision.

But finally, after a couple of offers and counter offers, we decided against walking away with a six figures clean profit.

Without going into detailed maths on the project, in terms of returns this would have been a 15% return on investment over a 6 months period. (So 30% annualised)

And admittedly, the future may prove us to have been foolish not to accept and walk away! (Hopefully not of course)

But we do believe there is more mileage in the property: Although we are looking at another year (and a lot of work to be done) before putting the final product on the market, we hope to double the return on investment again by the time we exit. 

The big "IF" is the result of the elections, and the threat of the "mansion tax" that could serve a serious blow to the resale of any property over the 2m mark.

But this is not not for us to decide.... The call has  been taken and focus is now single mindedly on the long hard slog ahead!

The ups and the downs of the actual build!!

The digging is to start in the next week and we are just getting mentally ready!

Soon more to follow..… oh by the way... The picture is our front door!

It all depends on the price...

Question is.... If keeping on the analogy of gambling I had used in my previous post;

Should we keep the chips in or cash in and go. Hunting again!?

The architect in me is of course screaming to detail, flesh out, and  implement  the scheme on the ground to enjoy the satisfaction of a job well done.
Walk through the spaces that have been envisioned in my mind, before finally putting a finished product on the market. (While hopefully making a further profit)

But purely looking at it from the perspective of a cold blooded developer the call is less clear cut.

Nobody knows too much what direction the market will take over the next year, and there is a lot of work to do!

Thankfully the Labour opposition party has clarified a couple of days ago their view on their so called "mansion tax"... Which for properties valued between 2m and 3m would only be 250gbp a month.... A lot less then originally anticipated ...  the rumours that were creating  uncertainty... And of course the market hates uncertainty of policy.

So good news there!

In the mean time, no harm testing the market and see what happens.

So therefore, it is now discretely on the market with specialist development agents.... Since yesterday.

And today we have the first viewing.

It all depends on the price! 

More visual

Having received the first feedback.
"Keep it more visual"
I thought I should oblige and add a few pictures!

In the next few posts I will elaborate on the actions so far. 

- the auction purchase, the filming from "homes under the hammer", the ongoing saga of the planning permission.... The encounters with the neighbours...  

In fact thinking about it I should go one step back and mention what all research and other properties that had been earmarked, prospective areas.... Etc... Plenty of material to write about.... Wondering if I will have the time to do the actual project itself at this rate! 

Side view giving a sense of size

This one showing "the trees" growing on! 

The huge overgrown garden

And here the side return - view from the garden.