Fully Funded

122 London Road, Tunbridge Wells, TN4 0PL

Developer: JVIP (Kent) LTD

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 1

floor area

900sf sq.ft.

purchase price/value


cost of work


loan to value


est. sales value (gdv)**


owed at exit to gdv***


strategy & vision

122 London Road, Southborough is situated approximately 1 mile north of Tunbridge Wells town centre and fronts the A26 Tunbridge Wells to Tonbridge road. The property has excellent transport links; access to the motorway network is via the A21 two miles to the north which leads to the M25 J4. There are regular trains to central London via High Broom or Tonbridge stations which take approximately 40 minutes into London Charing Cross and Cannon Street.

The property comprises a 3-storey Victorian end of terrace, mixed commercial and residential building. It is situated on the corner of London Road and Holden Park Road. The proposal is to convert the building into 3 self-contained, one-bedroom flats of 30m2 (approx) each under planning consent reference number 17/02331/PNOCLA.

The borrower for this project is 122LR Ltd, part of the JVIP Group, a family business run by Richard and Peter Dabner. They are highly experienced developers with an excellent knowledge of the local area, having completed numerous projects within the vicinity. 122LR Ltd have already exchanged on the purchase of this property and will complete the purchase on the 13th March.

The Dabners are also well known to CrowdProperty; they have borrowed and returned in full to us on two separate occasions. They are also currently constructing 2 new houses one mile away from this property, with a £460,000 loan from CrowdProperty, which is due to be repaid in January 2019.

The purchase price is £225,000 and having obtained planning the RICS valuation estimates a value £275,000. The conversion works are estimated at £122,000 and the RICS view of the GDV of the completed project is £500,000. CrowdProperty has agreed to lend the developers £250,000: £157,000 towards the purchase of the property and £93,000 towards the conversions costs. This provides a 70% loan to value at purchase reducing to 50% loan to value at exit.

The loan term will be 15 months, with the borrowers intending to sell the flats individually once completed. As always CrowdProperty will have first legal charge over the property.

exit strategy

Sell the flats in the open market.

the borrower
& project team

20 year family business developing in south westKent and in particular Tunbridge Wells, Tonbridge, Sevenoaks and local villages. Strong in house team has enabled them to grow such that in the last 5 years they have completed a number of new build, conversions and commercial to residential projects.

indicated return for your pledge
min. loan (6 months)
15 month loan

CrowdProperty Comments

We are pleased to be supporting The Dabners on their latest project. Of the 4 previous loans they have already paid back 2 in full and on time. The other 2 loans are due back in January 2019 and are on schedule to do so. In total we have lent them £1,130,000 and they have paid back £670,000. The outstanding loans total £460,000. The borrower focuses on their local market and have clear understanding of its dynamics. They have built a strong in-house team of Project Managers, sales and technical staff and the strong track record gives us comfort to support them on this latest project.




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.

Your capital is at risk. No FSCS protection. Past performance is not an indicator of future results. Tax treatment will depend on individual circumstances and may be subject to change. See our full risk warning.

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