TGPC Deal 167
Deal 167 Cowper Street
This deal was a sourced deal for TGPC – meaning it was when we worked to source properties for investors. (We always had a plan to only do that for 5 years, and we sourced some 2017 deals during that time, before moving our sourcing to being only for TGPC). This meant that as we built TGPC, we were able to both help investors by buying discounted deals for them and also help TGPC as the additional sourcing fee helped fund more properties.
This deal was a good ‘un.
We sourced it at a purchase price 0f £170,000. Our deal report (we used to do about 10 pages of research for each property sourced) stated we (conservatively) estimated the value at £230k, once done up.
In fact our investor did a great job, and was able to sell the property as a Buy to Sell project for £250,500.
As it was a sourced deal, TGPC did not do the refurb. Our investor let us know he spent £24k doing the property up.
A real win win for both parties. We were delighted he did so well out of the deal.
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