Purchase and renovation of a five bed HMO in Porthcawl, Wales
Purchase and renovation of an old HMO building in the coastal town of Porthcawl
Z2 Partners was approached in the summer of 2018 to provide funding for the purchase and renovation of a tired HMO building in the coastal town of Porthcawl, with a view to stripping back the interior, reconfiguring it, and renovating the flats. The loan exit was to be via the sale of each of the flats. The project took approximately a year to complete, followed by a few months to sell the individual units. This is the third project we have done with this group of developers and, as always, they did an excellent job of creating a great project, within budget.