Paid Back in Full

10 & 11 The Crescent, Plymouth, PL1 3AB

Developer: William Turriff

loan amount


interest paid*


funds pledged


number of investors


% of target pledged

Fully Funded

project type

Conversion of existing residential property to multiple units

loan term

up to 15 months


1st charge

project phasing

1 of 1

floor area


purchase price/value


cost of work


loan to value


est. sales value (gdv)**


owed at exit to gdv***


strategy & vision

10 & 11 The Crescent are a pair of Grade II Listed-mid terraced five storey Georgian properties (including lower ground floor and mansard levels) which have previously been used as office accommodation.

Planning consent (16/02046/FUL) has been granted for change of use from office to residential (Class C3) with the creation of 10 x two bedroom apartments. Flat sizes range from between 776 and 1153 sq.ft.

The building is in a central location, with easy access to Plymouth Town Centre and close to Plymouth’s Hoe promenade (0.7 miles from Plymouth rail station).

The borrowers, Your Property Development (Crescent) ltd are purchasing the properties for £750,000 and this has been verified by an independent RICS valuation. RICS view on GDV of completed conversion is £2,165,000.

CrowdProperty will lend £950,000 for up to 15 months - £525,000 towards the purchase price and £425,000 towards the cost of works. the £425,000 will be released in stages and as verified by our Independent Monitoring Surveyor. The loan to value will initially be 70% reducing to 43.8% at the end of the build.

The length of the loan is a minimum of 6 months and a maximum 15 months.

exit strategy

Option 1: Sell on to open market
Option 2: Refinance

the borrower
& project team

Team of 5 individuals operating through an SPV called Your Property Development (Crescent) Ltd

Billy Turriff – Previously a management consultant , working with a number of development and construction companies. Currently a property developer with a 30 unit portfolio, valued at £4.5m. Completed a number of development projects including 4 Grade I listed buildings in the Wirral where he paid CrowdProperty lenders back 2 months early.

Christina Kusytsch – Previous career as PWC accountant, she is now a property investor and developer with 26 years experience. She owns a multi million pound portfolio of 40 properties and has been involved in over 100 property renovations.

Michael Kyte – Set up a company in financial information and later also founded a natural horsemanship business; both were later sold. He is also Co founder of Your Property Network Magazine.

Anthony Lyons – Co-founder of Your Property Network Magazine, he has also owned a property portfolio of single and multi-lets for the past 10 years. Managed the refurbishment of over 20 projects.

Simon Platt – Involved in property since 2005, he has built a £3.5 million portfolio. Refurbished and flipped several properties around Bournemouth, later building a development of 3 houses in the same area.

indicated return for your pledge
min. loan (6 months)
15 month loan

CrowdProperty Comments

This is a great project by experienced developers who have previously borrowed from CrowdProperty and repaid the loan 2 months early.

The developer is adding significant value to the project and using their own funds which mean that the loan to value drops to less than 50% by the end of the development, which means that there is plenty of equity and security for the CrowdProperty lenders.

As the property has been secured by an option there is also a set date from which you can start earning interest.

Altogether a great project that we are delighted to award the CrowdProperty stamp of approval.




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.

Your capital is at risk and you may lose all you lend. See our full risk warning for more information

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UK crowdfunding
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