Paid Back in Full

High Brooms Road, Southborough, Royal Tunbridge Wells, TN4 9DP - 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

£210,000

interest paid*

8%

funds pledged

£209,500

number of investors

39

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 18 months

security

1st charge

project phasing

1 of 2

total loan facility

-

floor area

-

rics valuation

£300,000

cost of work

£436,875

est. sales value (gdv)**

£850,000

initial loan to value

70%

loan to gdv

54.12%

owed at exit to gdv***

62.27%

strategy & vision

The site is an open parking area and vacant terrace of five garages along with a detached garage storage building which will be demolished.

Land is held by a JVIP Company (St Johns TW Ltd) and will be transferred to an SPV Company called St Ledger Ltd.

Planning permission was granted under planning application reference number 16/07444/FULL for the demolition of existing lock up storage garages and the erection of two semi-detached three storey three bedroom houses and creation of widened access point.
- House 1: 1,054 sq ft (98 sq m)
- House 2: 1,054 sq ft (98 sq m)

Value of the land with planning is £300,000 (RICS view). CrowdProperty have agreed to lend £210,000 against the land with planning resulting in an LTV of 70%. The loan period will be a minimum of 6 months and a maximum of 18 months.

The anticipated Gross Development Value of the completed development is £850,000 (RICS estimate) based on current planning permission. The borrowers are looking to improve the current planning permission, and once obtained will return to discuss a phase 2 raise for the construction and delivery of the project.

exit strategy

Sale of houses

indicated return for your pledge

interest

total

min. loan (6 months)

£200

£5,200

18 month loan

£600

£5,600

CrowdProperty Comments


This is a very straightforward loan on land with full planning permission for a profitable project. The borrowers will come back for the Phase two loan in approximately 3 months’ time for the build costs. The borrowers are very experienced and are well known to CrowdProperty having borrowed twice from CrowdProperty and paid back early on both occasions. We are very happy to give the CrowdProperty stamp of approval to this project and expect it to fill very fast.

The

CrowdProperty

Shield

Rigorous due diligence
1st Charge Security
Unparalleled expertise
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*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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