79 Eglinton Road · Woolwich, London
One Victorian house.
Three new homes.
How Surveying Corp helped transform a single-let terrace into three self-contained flats, with a reported combined value of £890,000 and rental income of £4,400 per month.
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The brief
Finding the potential in a Victorian terrace
Our client wanted to acquire and develop a London property with a minimum rental yield target of 5%, working towards an initial total budget of £500,000 for acquisition, transformation and launch.
We identified 79 Eglinton Road, a probate-sale Victorian house in Woolwich, and secured the property for £415,000. The source case study records a lender valuation supporting that purchase price.
Our role
From initial measurement to handover
Property measurement
We surveyed the building to establish its original floor areas and provide a factual basis for the planning strategy.
Planning strategy
We developed the approach to extensions and conversion, navigating the local planning requirements for three self-contained flats.
Tendering and contracts
We managed a two-stage tender process and administered the construction contract, supporting delivery through to handover.
The development strategy
More space. A considered mix of homes.
The strategy involved securing extensions, including a loft conversion and a ground-floor extension, before pursuing the full flat conversion. The completed scheme increased the recorded floor area from 135 m² to 171.65 m² — an increase of approximately 27%.
Flat 1
Two-bedroom garden flatLower ground floor
Flat 2
One-bedroom flatGround floor
Flat 3
Three-bedroom duplexFirst and second floors
Planning considerations
The detail behind the development
Original floor area
The project strategy considered the building's original floor area and a 130 m² threshold identified in the case study. Establishing the relevant planning history and measurement basis was an early priority.
Extension sequencing
The team considered permitted development as part of the extension strategy before the flat-conversion application. The availability of those rights depends on the property and the proposed works.
Residential standards
The conversion strategy addressed the requirements for new homes, including internal space, sound insulation and amenity provision.
This describes the approach to this project. Planning policy and permitted development rights must be assessed for each property at the time of a new proposal.
Investment results
A three-home portfolio with £4,400 monthly rent
The reported rental figures total £52,800 per annum across the three flats. Detailed lease plans were prepared for the individual units to support the planning and mortgage requirements.
*Understanding the 114% uplift
The increase from the £415,000 purchase price to the reported £890,000 combined value is approximately 114%. This comparison excludes construction, professional, finance, tax and other costs; it is not a net profit or return-on-investment calculation.
| Purchase price | £415,000 |
|---|---|
| Floor area achieved | 171.65 m² |
| Flat 1 · two-bedroom garden flat | £1,600 / month |
| Flat 2 · one-bedroom flat | £1,200 / month |
| Flat 3 · three-bedroom duplex | £1,600 / month |
| Total rental income | £4,400 / month |
| Reported combined value | £890,000 |
Figures are taken from the project case study and are not presented as a current valuation. The initial £500,000 budget is a target; the final total development cost was not provided.
Visual record
Before & after
Exterior transformation
Internal refurbishment
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