📝 Planning Risk: The Extension Factor - Case Study 6

Monday 8th July 2024

Whetstone, N20 5

Permission to Flip: The Risk on Oakleigh Road North True profitability in Barnet flipping now relies on value-add planning gains, such as securing permission for a rear extension or loft conversion. This adds huge risk to the Timeline.

Case Study 6: The Planning Delay

Loss Property: Semi-detached, needs extension and full refurbishment, Oakleigh Road North (N20 5).

Bought: October 2023: £750,000.

Action: Immediately submitted planning for a large single-storey rear extension and loft conversion.

Result: Planning permission was delayed by four months due to local objections (a common issue in N20). The delay extended the bridging finance period, adding approx. £30,000 in interest and costs. While the final sale price (£1,150,000) was good, the extended hold time turned a potentially excellent profit into a modest one. Time is money, and planning risk is a flipper's biggest enemy.