Paid Back in Full

High Brooms Road - Phase 2, Southborough, Tunbridge Wells, TN4 9DP - 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

£250,000

interest paid*

8%

funds pledged

£250,000

number of investors

25

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 18 months

security

1st charge

project phasing

2 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 an SPV Company called St Ledger Ltd.

Planning permission was granted under planning application reference number 16/00586 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)

CrowdProperty has already lent £210,000 against the land with planning (RICS estimate of land: £300,000).
Phase 2 lend will be £250,000 which will be used for the development of the houses.

The anticipated Gross Development Value of the completed development is £850,000 (RICS estimate) based on current planning permission. Total loan (Phase 1 + Phase 2) = £460,000 resulting in a loan to value reducing to 54% by the end of 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


The borrowers are very experienced and are well known to CrowdProperty, having borrowed on three occasions (two of which paid back early and the third is for Phase 1 of this loan). We are very happy to give the CrowdProperty stamp of approval to this project and expect it to fill very fast.

The

CrowdProperty

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Rigorous due diligence
1st Charge Security
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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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