Fully Funded

Land at Knoll Road, (Formerly Hedges), Godalming, GU7 2ER - Phase 2

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

£350,000

interest paid*

7.25%

funds pledged

£350,000

number of investors

303

% of target pledged

Fully Funded

project type

Residential (Modular Construction)

loan term

up to 9 months

security

1st charge

project phasing

2 of 2

total loan facility

£650,000

floor area

3310 sq.ft.

rics valuation

£650,000

cost of work

£650,000

est. sales value (gdv)**

£1,700,000

initial loan to value

38.5%

loan to gdv

38.20%

owed at exit to gdv***

40.20%

strategy & vision

This is the 2nd phase of a 2 phase raise of a loan CrowdProperty entered into with the borrower in April 2019. The project comprises a new-build development of 2 detached modular dwellings at a rolled up interest rate of 7.25%.

The proposed site is Land at Knoll Road (Formerley Hedges), Godalming, GU7 2ER. Godalming has a population of approximately 21,800 and is located in Surrey. Godalming sits in the Borough of Waverley which has won many accolades over the years including having the highest quality of life in the UK in 2013, as rated by the Telegraph (https://www.telegraph.co.uk/finance/property/news/9960500/Waverley-tops-list-of-best-places-to-live.html).

The larger town of Guildford is located 5.2 miles north of the site and can be accessed via the A3100, whilst Farnham is 10.4 miles west of the site and can be accessed via the A31/A3. The site also benefits from being less than 30 miles from London Heathrow International Airport.

The town of Godalming provides a local primary school, a museum, a public library and various restaurants and cafes. Godalming train station also provides half hourly trains to London Waterloo but the site also benefits from being equidistant from Farncombe train station also which runs on the same line.

The site comprised a detached bungalow and double garage. Planning has been granted to demolish the existing buildings to create two new builds with associated car parking and gardens. The total site area is 0.207 acres.

Planning permission was granted by Waverley Borough Council. Planning permission was granted on appeal (APP/R3650/W/18/3200840) following refusal of the original application (WA/2018/0389).

The Gross Internal Area (GIA) for both properties will be 3,310 sq.ft.

The GIA for Plot A will be 1,860 sq. ft
Plot A will be a four bedroom property with two en-suites and a bathroom. The property will also have a cloakroom, kitchen/dining room, utility room, living room and a study/playroom.

The GIA for Plot B will be 1,450 sq.ft
Plot B will be a three bedroom property with one en-suite and a bathroom. The property will also have a cloakroom, living room, kitchen/dining room, utility room and study.

exit strategy

Upon completion of the development the borrower intends to sell the units.

indicated return for your pledge

interest

total

min. loan (6 months)

£200

£5,200

9 month loan

£600

£5,600

CrowdProperty Comments


CrowdProperty is seeking funding for the second raise of this modular build project in Godalming, Surrey. Both Will and William are experienced property investors/developers.

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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