PROPERTY DETAILS

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  • HONG KONG BASED
  • PROPERTY DEVELOPMENT

LANCASTER GATE

BAYSWATER

This Bayswater property was acquired for an investment syndicate and developed for sale. It was refurbished to our exacting high standards and then rented out due to severe changes in market conditions. As the market improved, the property was successfully sold.

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PROPERTY DEVELOPMENT

Lancaster Gate, Bayswater

Acquired in late 2006, in what was then nearing the peak of the market, this unusual maisonette in Lancaster Gate , Bayswater, was completely remodelled and designed around the stunning original first floor ballroom. On completion by the Obbard team in the summer of 2007, three potential deals collapsed due to market conditions.

We were able to respond quickly to the market and rent out the property, achieving a Gross Development Value (GDV) yield of 5%. After 18 months the tenant was given notice and the property sold in early 2009, close to the low point of the market, following the sharp correction in 2008. Despite having bought at the top and sold at the bottom, the investors saw a net 12% Internal Rate of Return (IRR).

Entrance hall

LOCATION

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  • CONTACT

  • LONDON HEAD OFFICE
  • The Yacht Club
    Chelsea Harbour
    London SW10 0XA
    United Kingdom
  • tel +44 (0)20 7349 8920
  • info@obbard.co.uk
  • HONG KONG OFFICE
  • 9F Central Building
    1-3 Pedder St
    Central
    Hong Kong
  • tel +852 3975 2702
  • info@obbard.co.uk