BEVERLEY GARDENS

Beverly Gardens was a detached 1950's house of under 2000 square ft requiring modernisation. Waterford Partners bought the property in December 2005 at a cost of £1.1m. Planning consent was subsequently obtained to demolish the house and construct two semi detached luxury family properties of some 4500 square ft each. The gross development value (GDV) of the end product was

A sale was negotiated in May 2007 to a private end user at £3m, representing a return equivalent to our finished houses projection, but a year earlier and without market exposure risks.