A four-bed Victorian terrace in Rugby town centre once rented for £900pcm as a family home. Today, as a seven-bed co-living HMO, it brings in £5,600pcm. Here's how we converted it, what it took to get building control and planning on side, and how a BRRR strategy let us pull most of our capital back out — recognised with a finalist spot at the 2025 HMO Awards and a regional win at LABC 2025.

How a tired Victorian house in Rugby became our biggest HMO conversion yet — and the most design-led. Inside Project Saint: the numbers behind a 9-bed co-living build, the budget that doubled along the way, and the design-first standard that's shaped every bigger HMO project we've built since.