Montague House

The Opportunity

The aim was to promote the site for residential development and secure planning permission in a way that would maximise land value while remaining deliverable.

Although the building was relatively modern, it had suffered from prolonged under-management. Communal areas had deteriorated, key plant and machinery had not been properly maintained, and several parts of the building were no longer 
being used.

The lower ground and ground floors included a former spa, gym, salon and ancillary amenity space, creating a clear opportunity to repurpose underutilised areas into additional residential accommodation.

The building had strong fundamentals, including location, structure and existing residential use, but required significant operational, compliance, infrastructure and refurbishment work before it could be brought back to market successfully.

Our Approach

The aim was to reposition Montague House from an under-managed retirement scheme into a modern residential development with stronger owner-occupier appeal and better long-term value.

This meant upgrading the existing apartments, converting underused areas into additional accommodation, improving the shared parts of the building, and relaunching the development with stronger appeal to owner-occupiers.

Works included:

• 4x new apartments: commercial conversion of former spa, gym, salon and amenity areas into 4 new residential apartments
• 14x apartment refurbishments: full refurbishment of the existing apartments throughout the block to the specification of each buyer
• Utility restructuring: separation and independent metering of utilities across the building, together with the setup with a management company to handle re-billing and ongoing service administration.
• Heating upgrades: improvements to the communal heating and underfloor heating systems supplying the whole building
• Infrastructure improvements: lift refurbishment and wider building M&E upgrades
• Compliance works: fire safety and regulatory remediation
• Communal upgrades: refurbishment of shared areas throughout the development
• External improvements: landscaping, parking reconfiguration and upgraded external areas
• Security improvements: restoration of electric gated access and external security features

To support the sales strategy, a fully designed show apartment was created within one of the newly developed units, giving prospective purchasers a clear view of the finished specification before completion

Buyers were also given a limited range of specification options, allowing them to personalise certain finishes while keeping delivery controlled. This helped increase buyer appeal and differentiate the scheme within the local market.

The Outcome

Montague House was relaunched as a modern residential development with stronger owner-occupier appeal and a materially improved sales proposition.

Sales demand was strong, with the majority of apartments reserved within the first six weeks of launch. Transactions then progressed from reservation through to completion over the following months.

Key outcomes included:

• Approx. 89% GDV uplift: achieved across the lifecycle of the project
• £3.4m end value: achieved following redevelopment and repositioning
• 14 apartment block: comprehensively refurbished
• 4 new units: created through conversion of former commercial and amenity areas
• Infrastructure overhaul: utilities separated and independently metered throughout the building
• Communal improvements: landscaping, parking, lift systems and shared areas upgraded
• Strong sales demand: majority of units reserved within six weeks of launch

Summary

Montague House shows how value can be unlocked in existing residential buildings when the real issues are dealt with properly.

The building already had a good location and a solid structure, but it was being held back by underused space, tired communal areas, unresolved compliance matters and poor utility arrangements. Simply refurbishing the apartments would not have been enough.

The value came from taking control of the whole building: dealing with tenant issues, upgrading key systems, separating utilities, improving shared areas, converting unused space into additional homes, and launching the scheme in a way that appealed to owner-occupiers.

By dealing with the right issues in the right order, Montague House was turned from an underperforming retirement block into a stronger residential development with better functionality, stronger buyer demand and a significantly higher end value.