Fully Funded

Land at 298 Soundwell Road, Kingswood, Bristol, BS15 1PE

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

£591,000

interest paid*

8%

funds pledged

£591,000

number of investors

339

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 12 months

security

1st charge

project phasing

1 of 1

total loan facility

£591,000

floor area

17981 sq ft sq.ft.

rics valuation

£1,050,000

cost of work

£2,400,000

est. sales value (gdv)**

£1,050,000

initial loan to value

69.94%

loan to gdv

63.97%

owed at exit to gdv***

69.94%

strategy & vision

This project is a retained interest loan to provide secured debt funding on the purchase of a former car sales site with planning permission to construct 20 residential units. Lenders will receive 8% per annum interest equivalent and this will be paid monthly. The loan is for a max term of 12 months, minimum term 6 months.
The site is situated in Bristol the capital of the South West and one of the UK’s key commercial and financial centres. The city benefits from excellent road communications being strategically located at the intersection of the M4 / M5 motorways, providing good road access to London, South Wales and the Midlands. Bristol is served by two railway stations, Temple Meads (City Centre) and Bristol Parkway (North Bristol). Bristol has an international airport which offers flights to major cities in UK. the population of Bristol is approx 459,300.

The site is located on Soundwell Road in the Kingswood area of Bristol and approximately 4.5 miles to the east of Bristol city centre. The property is located in a residential area with associated community and commercial uses such as the Kingswood leisure center.

The site which measures approx .41 acres comprises a former car repair/MOT depot, an area of hard-standing and two dilapidated buildings which provided an administrative sales office and workshop.
Planning consent PK17/0704/F has been granted by the South Gloucestershire Council for the demolition of the car sales buildings and erection of 20 no. dwellings and associated works. The site falls partly within Bristol Council's jurisdiction and the 2 planning authorities have collaborated to bring this site forward. The S106 Agreement has been signed and this has triggered the necessity for the borrower to now complete the purchase of the site.

The new 20 dwellings will comprise:

6 semi-detached 4 bedroom house
4 semi-detached 3 bedroom houses
1 semi-detached 2 bedroom house
6 x 2 bed apartments
3 x 1 bed apartments
Total size of the new development is 17,981 sq ft

exit strategy

Once the borrower has a clearer position on the negotiations with the Housing Association he will either sale the site or build out the units for this Company. He will then either redeem the loan or refinance onto a development loan.

indicated return for your pledge

interest

total

min. loan (6 months)

£200

£5,200

12 month loan

£600

£5,600

CrowdProperty Comments


This is a well-planned development by an experienced developer who is an existing borrower with CrowdProperty and has engaged full set of Consultants to deliver the project. The site is well located in a residential part of Bristol with close proximity to local amenities and the City Centre. The negotiations with the Housing Association are progressing and could provide an early sale or refinance onto a Development loan.

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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