Cost of converting pub to flats

supa34

Hi.

I have seen a pub for sale and about to agree the price with the the agent for it. It has planning permission for 5 two bedroomed flats of around 70m2 each.

Before I accept his offer, I thought I would ask on here if anyone knew the rough cost from experience or family friends etc to convert a pub to flat.

A quick Google said 25k per flat but that seemed an awful lot of money per flat.

I know there is issues of partitions, sound insulation, has and electric meter, heating, kitchen etc but I was thinking around 10k per flat max.

I am gonna get in touch with the architect who did the drawings to see if they can give me a quote for doing all the work.

davidmcn

No idea how you're going to cost it based on "a quick Google" or even "a quick Google and then asking a forum of people who haven't seen the pub or the plans". I doubt there's any typical way of converting a pub to five flats, so it depends on what work is actually needed.

BlackBird75

supa34 wrote: »

Hi.

I am gonna get in touch with the architect who did the drawings to see if they can give me a quote for doing all the work.

What do you mean?
If the architect has already done the drawings, surely it is now a builder you need to get a quote from, as it is the builder who will be doing the work.

How much experience in property development do you have?

I would say that someone asking this question on here, should be cautious about taking on such a large project.

I would be getting a few quotes from builders, before even considering making an offer on a building like this.

POPPYOSCAR

You are buying a pub to convert into flats but you have no real idea how much it is going to cost?

Seriously?

LABMAN

POPPYOSCAR wrote: »

You are buying a pub to convert into flats but you have no real idea how much it is going to cost?

Seriously?

Is the 100% correct reply!

Nobody on here knows anything about the property so how can you expect anyone to give you even a ballpark figure!

Back out rapidly!

Doozergirl

Break down that £10k for me, per flat.

What are you going to do, what do you think it costs?

I've done a little bit more since then, but we turned a house into four flats just over 15 years ago. I know what it cost back
then.

Spidernick

What about the 'cost' to the community of yet another pub being lost?

POPPYOSCAR

Spidernick wrote: »

What about the 'cost' to the community of yet another pub being lost?

Sadly not much can be done about that.

We had a very old pub on the corner of our high street which was lovely.

It has been converted into several flats, they are about the only property that is not selling around here because they are so expensive.

I must admit I am quite pleased about the fact they cannot sell them
as I am fed up with seeing such landmarks lost in this way.

Brummie85

10k per flat is being very optimistic, judging on costs for our own revamp of a normal 3 bed semi.

Rewire - £2k +. You can expect a similar cost per flat. Of this, maybe £1200 would be materials and parts. It adds up quiet quickly.

Boiler and plumbing - £3500k is realistic. Gets more expensive with some systems and fancy radiators.

Bathroom - Another £2-3k. Our tiles alone have cost £1,000 and as nice as they are, they clearly aren't the top end stuff. An okay suite will be £700. The rest will be swallowed by labour

Kitchen - We've just ordered our new kitchen from Howdens. With a 50% discount (hmm, I know..but anyway) its costing us £3,300. This doesn't include appliances and we will need to purchase an extractor as well. Put some nice appliances in and you can easily double the cost of the kitchen to around £7k.

Windows & doors - Probably another £4k or more. It could be less if the layout only gives a couple of rooms with windows.

Carpets,laminates etc - Will probably hit you for another £1,000 per flat. I think our house will probably be closer to £1500.

We're not even talking about the structural work required, insulation, alterations to utilities, planning fees, decorative items etc and even on conservative values - it's well above the £10k you set for developing each flat without the items listed above mentioned.

You need to work out who you are aiming to sell to and if the local market will be able to supply you with those buyers. There is no point doing a luxury development in an area that people cannot afford it, but likewise if you are looking to make the most money from each flat going for a basic finish when the market would give you buyers that can afford and want a better standard will also lose you money.

Before you spend any money, make sure it's the right thing to do. I'd hate you to buy a lemon and get stuck with something you either can't sell at the end or can't afford to get it where it needs to be.

AdrianC

Spidernick wrote: »

What about the 'cost' to the community of yet another pub being lost?

I think we can work from the starting point that the pub has already closed...

AnotherJoe

Spidernick wrote: »

What about the 'cost' to the community of yet another pub being lost?

You're welcome to buy it and run the pub. Oh, not interested ? No, neither was anyone else.