Fully Funded

Field Green Barn, Sponden Lane, Sandhurst, TN18 5NR

Developer: JVIP (Kent) LTD

loan amount

£595,000

interest paid*

8%

funds pledged

£595,000

number of investors

113

% of target pledged

Fully Funded

project type

New development (eg new build, self-build, air rights etc)

loan term

up to 18 months

security

1st charge

project phasing

1 of 2

floor area

-

purchase price/value

£850,000

cost of work

£1,200,000

loan to value

70%

est. sales value (gdv)**

£2,400,000

owed at exit to gdv***

70%

strategy & vision

Field Green Barn, Sponden Lane, Sandhurst, TN18 5NR provides a former agricultural building within a 4.6 acre site on the edge of The High Weald Area of Outstanding Natural Beauty. Local villages of Sandhurst and Hawkhurst are a short distance drive whilst the District centres of Tunbridge Wells and Ashford are approximately 10 miles to the north and east.

Already owned by the borrower Launch Pad Strategies Ltd. planning has been secured to convert the building into a pair of semi detached houses through Tunbridge Wells BC ref. 17/03348. The proposal will provide 3 storey accommodation of 4607sf each including open plan living accommodation, 4 bedrooms, integrated garaging and roof top terracing offering outstanding views across the Kent and Sussex countryside.

CrowdProperty have agreed to lend the borrowers £595,000 as part of a phase 1 raise for a term of 18 months. RICS valuation estimates current value of £850,000 so the initial loan represents a 70% LTV.

The borrower will return later to raise further monies to pay towards the conversion works. Estimated build cost is £1.2m with RICS view on sale prices at £1.1m each giving a GDV of £2.2m.

exit strategy

The borrowers will sell the development on completion of the works

the borrower
& project team

15 years experience in the South West Kent property market. The company specialises in the residential, conversion, commercial to residential and new build market, generally concentrating on the £200,000 - £2m lot sizes.

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

CrowdProperty Comments


The borrowers 1st spoke to us about this in early 2017. At the time they did not have planning and with our policy of only lending where there is a planning consent we were not able to assist them. Now with a planning consent to convert the barn into 2 houses this opportunity fits our lending criteria and we are happy to be able to support such a scheme.

The

CrowdProperty

Shield

Rigorous due diligence
1st Charge Security
Unparalleled expertise
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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 and you may lose all you lend. See our full risk warning for more information

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