7 Eggerton Road was in very poor condition on acquisition. We fully gutted the building and rebuilt it into beautiful shared living spaces aimed at students. The transformation was significant; so was the construction programme. The numbers worked because the feasibility had been honest about what the property needed.

Properties in poor condition are often mispriced precisely because they’re intimidating. With a thorough feasibility take-off, that intimidation becomes a defined number — and the opportunity becomes a project rather than a punt.

Walk every distressed property carefully before pricing. The signal is in what your eyes tell you, not what the listing claims.