How would you arrange furniture in this flat and could it be converted to 2 bed?

[Guttted]

It’s 54m2. The main living space is large enough but has 4 doors - so where would you put seating and dining? It’s east facing. Also is there space to strip out the current kitchen to become a bedroom so it’s a 2 bed and arrange a kitchen / lounge / diner? Would this add value? It’s in London zone 2 and share of freehold. Top floor.

I've rented and owned flats in Z2 London of similar size. My view is that only extra space adds value - not squeezing more rooms into the same space. I owned a 2 bed flat with slightly more square footage and I sold it to a single woman who uses it as a one bed.

Have you run the numbers? What is the rental yield for it as a one or two bed? Then subtracted the costs of conversion (substantial) along with the additional wear and tear / risk / admin costs from letting to 2 sharers rather than a single/couple? I doubt there is much in it.

You don’t own the entire freehold.

This means you need to:

1. Get approval for doing any significant renovations - you don’t “own” the structure.

2. If there was an increase in value due to your renovations in most scenarios you would need to pay the freeholders an uplift fee. You would also have to cover their costs - surveyor, solicitor etc.

If it’s a property management company or LA there can also be submission fees before they even consider your proposal.

Also, if it’s only 2 storey and you have a partial freehold it is perhaps resident managed (?) If so other owners may not want additional people stomping round above them, taking the available parking, suffering the noise of your refurbishment. So they may veto your plans for emotional/personal reasons. Which they can do.