Fully Funded

Land at Hag Lane, Raskelf, North Yorks, YO61 3LQ - Phase 1

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

£220,000

interest paid*

7.25%

funds pledged

£220,000

number of investors

310

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 15 months

security

1st charge

project phasing

1 of 2

total loan facility

£534,000

floor area

5546 sq.ft.

rics valuation

£365,000

cost of work

£557,000

est. sales value (gdv)**

£1,235,000

initial loan to value

60.3%

loan to gdv

43.20%

owed at exit to gdv***

47.70%

strategy & vision

The project comprises a new-build development of 3 residential units at an annual interest rate of 7.25%. Interest on the phase 1 raise will serviced so that lenders will receive a monthly payment.

The site is situated at the edge of Raskelf village in North Yorkshire and located about 1 mile west of the A19 which runs from Doncaster to Newcastle. The village has a population of 519 (2011). The village benefits from a village shop, pub, cafe and village hall. There is also a short mat bowls club together with a cricket and tennis club.

The project has full planning consent under planning references 18/01939/OUT and 19/00687/REM from Hambleton District Council for the development of 3 new detached dwellings (2 x 3 bed dwellings and 1 x 4 bed dwellings). The site totals 0.42 acres and currently has some former agricultural buildings that will be demolished.

The proposed units will comprise the following:

Plot 1:

Ground Floor: Entrance hall, bedroom one with en-suite, bathroom, bedroom two, open plan living/kitchen/dining room and integrated garage
First Floor: Bedroom suite with dressing area and en-suite

Estimated GIA of plot 1: 135 m2 (1,453 sf)

Plot 2:

Ground Floor: Entrance hall, w/c, study/bedroom, integrated garage, boot room and open plan kitchen/dining/living room
First Floor: Landing, bathroom, bedroom one with en-suite and dressing room, bedroom two and bedroom three

Estimated GIA of plot 2: 184 m2 (1,980 sf)

Plot 3:

Ground Floor: Entrance hall, living/bedroom, study, family kitchen/dining/living area with orangery, boot room, cloakroom and integrated garage
First Floor: Bedroom one with en-suite and dressing room, office, bedroom two, bedroom three and bathroom

Estimated GIA of plot 3: 187.5 m2 (2,109 sf)

exit strategy

Upon completion of the development the borrower will sell the houses in the open market.

indicated return for your pledge

interest

total

min. loan (6 months)

£200

£5,200

15 month loan

£600

£5,600

CrowdProperty Comments


The director of Galtres Developments Limited has a wealth of construction experience through his 40 years working in the property industry therefore CrowdProperty are confident he can successfully manage and deliver the development of 3 detached units.

The

CrowdProperty

Shield

Rigorous due diligence
1st Charge Security
Unparalleled expertise
more
*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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