Fully Funded

31-33 St John Street, Bridgwater, TA6 5HR

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

£475,000

interest paid*

8%

funds pledged

£475,000

number of investors

117

% of target pledged

Fully Funded

project type

Residential (Modular Construction)

loan term

up to 15 months

security

1st charge

project phasing

1 of 1

total loan facility

-

floor area

-

rics valuation

£400,000

cost of work

£300,000

est. sales value (gdv)**

£1,000,000

initial loan to value

43.75%

loan to gdv

48%

owed at exit to gdv***

53.38%

strategy & vision

To see CGI interior view, please visit: https://roundme.com/tour/256058/view/760783

31-33, St Johns Street, Bridgwater forms part of a mid terraced 2 and 3 storey building within a mixed parade of shops/commercial and residential upper areas.

A William Hill Betting shop sits on the ground floor and does not form part of the opportunity. Planning has been granted ref: 08/17/00250 by Sedgemoor BC to convert the vacant areas to 16 bed HMO together with on site car parking.

St Johns Street is situated to the east of the town centre and connects with the ring road and junctions J23 and J24 M5 a further 1 mile to the north and south. Trains to London are 2.5 hours via Taunton, or Bristol 1.10 hours via Weston Super Mare.

Bridgwater has a population of 41,000 with largest employers including Argos, Bowerings Animal Feeds, Gerber drinks and Toolstation. Hinkley Point Power station is approx. 5 miles to the north west being constructed by EDF Energy. This is the first new nuclear power station in the UK for a generation and throughout its 10 year construction, the development is likely to create over 25,000 new employment opportunities.

The borrower will be Luke Abbott who has exchanged on the purchase of the property and will complete on May 1st 2018. He has purchased the property in an SPV - LWA Investments Ltd (Company Registration Number - 10814656).

CrowdProperty has agreed to lend £475,000 for a period of 15 months

RICS view of expected value at out turn of project £1,000,000

Purchase price £230,000 with RICS view of current value having achieved planning - £400,000.

Estimated build cost - £300,000

The loan will be released in phases. Phase 1 - £175,000 – towards the purchase price and phase 2 - £300,000 released in tranches on IMS verification. Loan term 15 months max.

LTV is 43.75% < 53% (including rolled up interest).

Borrowers exit strategy is to refinance and hold as long term investment.

1st charge security on the property will be offered in favour of CrowdProperty.

exit strategy

Re finance and hold long term as an investment

indicated return for your pledge
interest
total
min. loan (6 months)
£200
£5,200
15 month loan
£600
£5,600

CrowdProperty Comments


The development of Hinkley Point nuclear power station a few miles to the north west will provide a welcome economic boost. The town will require additional accommodation to house the Contractors and Suppliers linked to this project and CrowdProperty believe this project will go some way to fulfilling this demand.

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.

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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