Fully Funded

Cottage Mews, Wood Green Road, Wednesbury, WS10 9QL - Phase 3

Please note, for this project, pledges will be limited to a maximum of £0 until 10.05am. After 10.05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised.

loan amount


interest paid*


funds pledged


number of investors


% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 8 months


1st charge

project phasing

3 of 3

total loan facility


floor area

14779 sq.ft.

rics valuation


cost of work


est. sales value (gdv)**


initial loan to value


loan to gdv


owed at exit to gdv***


strategy & vision

This is the third phase of a total 3 phase raise for the project located on the corner of Wood Green Road and Hobs Road, Wednesbury, WS10 9QL. CrowdProperty and the borrower entered a 15 month (max) loan commencing 16th November 2018.

The build contract was awarded to Bal Construction and works began week commencing 29th October 2018. Due to delays - including having to make a minor amendment (back to planning) during the early stages of the build- the build is expected to complete in November 2019.

Works completed to date include:

Block A construction to roof level. Roof trusses are installed and the roof is being weathered – the borrowers construction team have since commenced tiling on Block A
Block B construction to roof level the 2nd floor, floor joists have been installed
Block C, 50% of ground floor construction has been completed
Block D, construction to 1st floor level has been completed - 1st floor, floor joists installed
Block E, foundations are 100% completed, the steel frame has been 90% constructed
Drainage to Blocks A, B and C and D are completed

These works have been verified by an Independent Monitoring Surveyor (IMS) acting on CrowdProperty's behalf.

Works planned in the forthcoming period include:

Completion of tiling on Block A and the commencement of tiling on Block B
Block C is expected to reach wall plate level by week commencing 8th July 2019
Block D is expected to reach first lift week commencing 8th July 2019
Complete installation of steel frame for Block E is expected by June 2019 

Cottage Inn is a former public house situated on the corner of Wood Green Road and Hobs Road, Wednesbury, WS10 9QL. The site is located less than 10 miles north west of Birmingham and less than 2 miles south west of Walsall. Prior to its redevelopment, the site comprised a detached two storey building together with car park and beer garden, previously being used as a public house.

Access to the national motorway network is via junction 9 of the M6 motorway approx 1/2 mile to the north east. The site is located within close proximity to the Gallagher Retail Park with stores including IKEA, PC World Currys, Decathlon and B + Q. RAC have a regional HQ near by whilst Amazon and Lidl operate major Distribution Centres in the area. Wednesbury forms one of a number of towns within England's Black Country and has a population of 37,817 (2011 census).

exit strategy

The borrowers are intending to sell the units upon completion of the development. Connells are the appointed marketing agents for this project and they ran a pre launch marketing campaign which attracted around 500 enquiries for the 13 units.

Connells will be hosting and open day on 27th June 2019 and have received over 200 enquiries from when their marketing began. Connells have reserved Block E off plan, Connells are in advanced stages over the reservation of a 4 bedroom terraced property in Block A.

indicated return for your pledge



min. loan (6 months)



8 month loan



CrowdProperty Comments

With works having significantly quickened in the recent months CrowdProperty are confident the contractors will complete the works by November. The borrowers have a clear focus on their exit strategy - holding an open day with Connells in the coming months coupled with a show home in Block A. Once this show home is built CrowdProperty are confident the remaining units required for the borrower to exit the loan will be sold.




Rigorous due diligence
1st Charge Security
Unparalleled expertise
*Please see full risk warning
**Estimated Sales Value is more formally referred to as GDV - Gross Development Value
***Owed at exit to GDV is calculated as the total capital + any planned loan interest against the RICS GDV for the project. These figures do include subsequences on projects funding development costs during the course of the project.

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Your capital is at risk. No FSCS protection. Past performance is not an indicator of future results. Tax treatment depends on individual circumstances and may change. full risk warning.

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