Fully Funded

Albion Works, Bridgeman Street, Bolton, BL2 6BS - 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


interest paid*


funds pledged


number of investors


% of target pledged

Fully Funded

project type

Commercial to Residential Conversion

loan term

up to 15 months


1st charge

project phasing

1 of 3

total loan facility


floor area

9116 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 project is a commercial to residential conversion of a former engineering works to 14 apartments, with Interest to the lenders being rolled up and paid alongside the capital at the end of the loan period.

The property is based in Bolton located in the Greater Manchester area with a population of 194,189 (2011 census). The property is located 13.4 miles from Manchester City Centre and 12.3 miles from Wigan City Centre, Access to
two centres take less than 45 minutes by car and 20 minutes by train. Key employers in the region include, Amazon, Axa, Network Rail and Betfred Group.

Planning permission has been granted by Bolton Metropolitan Borough Council for the change of use from a former engineering works to 14 number apartments - planning reference: 04853/18.
The borrowers plan is to convert the property as per the planning consent and on completion of the works let the units separately and then re finance onto a long term commercial BTL mortgage.

The development will comprise the following flats and estimated RICS values:
Flat 1 – 3 bedrooms – 767 sq ft £116,000
Flat 2 – 2 bedrooms – 471 sq ft £80,000
Flat 3 – 2 bedrooms – 665 sq ft £115,000
Flat 4 – 4 bedrooms – 960 sq ft £145,000
Flat 5 – 2 bedrooms – 678 sq ft £120,000
Flat 6 – 2 bedrooms – 632 sq ft £110,000
Flat 7 – 2 bedrooms – 600 sq ft £105,000
Flat 8 – 3 bedrooms – 615 sq ft £107,000
Flat 9 – 3 bedrooms – 600 sq ft £105,000
Flat 10 – 2 bedrooms – 678 sq ft £120,000
Flat 11 – 2 bedrooms – 633 sq ft £110,000
Flat 12 - 2 bedrooms – 600 sq ft £105,000
Flat 13 – 3 bedrooms – 618 sq ft £107,000
Flat 14 – 3 bedrooms – 599 sq ft £105,000

Total GIA of 14 no. flats – 9,116 sq ft.

exit strategy

In keeping with their business plan, upon the successful conversion of the property the borrowers will re-finance onto a long term commercial mortgage.

indicated return for your pledge



min. loan (6 months)



15 month loan



CrowdProperty Comments

CrowdPoperty are pleased to present another funding opportunity by Fabio and Piotr. The two are well known to CrowdProperty and have demonstrated their ability to address and understand every aspect of the development process. The two of them are approaching the final stages of one of their CrowdProperty projects in Bury where the conversion works having been completed. They have an indicative offer from a commercial lender and are underway with the refinance.




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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