The existing house in Chistchurch, Dorset is currently a 5 bedroom detached property, also comprising an integrated retail shop. I am thinking of converting it into two 3 bedroom semi-detached houses using the existing wall through the middle of the house. Semi 1 would be approx 100 sqm internal and semi 2 approx 110 sqm. Resales at about £225k and £275k so low to mid finish spec. I would aim to use existing walls where possible within the property. Assume both would need rewrite and reception, new heating, reline and re-plaster existing internal walls, new kitchens and bathrooms, new sockets and switches, new windows and doors, new carpets and tiling, complete redecoration. Structurally ok, brick built, some existing retail shop windows would need to be bricked up to match exterior. Need additional supply of electricity, water, and gas.
Grateful for any advice. I had guessed at £35,000 for semi 1 as this needs some internal walls moving and new stud walls, and windows bricked up, and £30,000 for semi 2 as existing internal walls can be retained. However, a more scientific breakdown would be really helpful. Plus contingency so overall budget say at £75,000 ?
Is any VAT reclaimable ?