The cost of a London flat refurbishment will depend upon several factors including the size and condition of the flat, if the refurbishment requires any structural work, if safety or sound features need to be added to comply with building regs, if kitchens and bathrooms need to be replaced and finally any other large miscellaneous elements that need to be considered.
A basic flat refurbishment cost
A basic refurbishment, which can change a run down and tired looking flat into a bright, clean and comfortable space can cost from around £25k-£45k and take from 4-8 weeks. This is likely to include some, but not all, of the following elements; fitting a new kitchen, painting the flat, installing some new lighting, installing new flooring, joinery work (such as shelving, replacing skirtings or architraves or installing new bespoke cupboards) and modifying an existing bathroom.
We generally find that the first things people will consider updating are the kitchen and bathroom(s), followed by painting and replacing flooring.
A full flat refurbishment cost
A full flat refurbishment for a smaller flat, which allows some modification of the flat layout into a more comfortable and modern living space, can cost from around £50k-£100k+, depending on the extent of work and the size of the flat and can take from 8 to 16 weeks. It could include elements such as fitting a new kitchen and/or bathroom, replacing flooring, installing a new boiler and radiators, re-plastering walls where required, some basic structural work (such as removing a non-supporting wall between a kitchen and living area or changing the size of a bedroom or bathroom), replacing a ceiling and installing some new electrics.
A larger flat that requires most of the above elements or items such as moving a kitchen or creating a new bathroom is likely to cost more and is likely to fall into a higher price bracket of around £70k-£120k.
A full flat refurbishment with some additional elements
Additional items might include work such as major structural internal alterations with steelwork, the addition of sound proofing, fireproof internal walls, mist fire prevention systems or glass-walled entrance areas. The cost of these elements varies to a great degree, but they may add considerably to the overall cost of the refurbishment, depending on exactly what they are. This type of refurbishment is likely to cost in excess of £80k. Internal structural alterations are also likely to require an engineer with an additional associated cost of around £700 (and more if drawings are needed), the work may also need building control to be involved for around £1,200.
A case study
One of the flats shown on our London flat refurbishment page had a full refurbishment with additional work and was converted from a 1 bedroom, 1 bathroom flat with a separate kitchen to a 2 bedroom, 2 ensuite bathroom flat with an open plan living area. The flat sold shortly after the work with an uplift in value of £200k with the work costing around £120k. Additional work on the flat was required as structural repair work was needed to remodel the rooms and to repair damage to the existing structure, along with the addition of a new bathroom, a full height fire glass entrance lobby area, installation of railings to an external balcony and moving the kitchen from the new 2nd bedroom to the open plan living space.
Does refurbishing a flat increase the value of the flat?
Yes, in our experience the uplift in the value of a flat after it has been professionally refurbished is several times the cost of the refurbishment work, particularly in the case of higher value properties.
Does refurbishing a flat increase the rental value of a flat?
Yes, particularly if the flat is in a good location, rental value increases considerably as does the ease and speed with which the flat can be rented. Local managing agents can give you a good idea of the likely increase in rent after a refurbishment.
Is it cheaper to buy a flat already refurbished or to do it myself?
In almost all cases it is cheaper to do the work yourself, you will also be able to choose how you finish the project and what you want to install, rather than inheriting someone else’s choices. The downside is the time, effort and the possibility of having to find alternative accommodation during the works.
What to do next
If you have refurbishment plans that you are considering we specialise in London flat refurbishments so look at our London flat refurbishment page for some pictures of our past project, have a look at the services we offer or for a few tips and tricks read our blog post 10 ideas for a London flat refurbishment or give us a call to discuss you plans.
While we have endeavoured to do our best to give accurate figures all flats vary and the figures above give a general idea of cost based upon our experience, give us a call if you would like a good idea of cost for the refurbishment of your flat.
