Fully Funded

Barnbrook Building, Barnbrook Street, Bury, BL9 7DT

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

New development

loan term

up to 15 months


1st charge

project phasing

1 of 1

total loan facility


floor area


rics valuation


cost of work


est. sales value (gdv)**


initial loan to value


loan to gdv


owed at exit to gdv***


strategy & vision

Barnbrook Buildings, Barnbrook Street, Bury BL9 7DT comprises a detached former 2 storey Victorian Mill situated on the edge of Bury town centre. Bury is a satellite town approximately 5 miles north of Manchester and has a population of about 78000. It formed part of the centre of the textile revolution during the 19th Century. Major employers today include the NHS, Education and Local Authority with a further 8,000 employed in the retail sector.
The building has a floor area of 498m2 and planning permission has been granted to convert the property into 5 x 3 bed flats. planning ref. no. 62336. From this the developers intend to create 5 separate HMOs with a total of 24 bedrooms to include ensuites via Permitted Development Rights.

The RICS valuer has valued the existing property at £230,000 and the out turn value at £800,000. The cost of the works is expected to be £395,000.
CrowdProperty have agreed to lend a total of £500,000; £169,000 towards the purchase and £331,000 towards the conversion costs. The £331,000 will be released in phases subject to the IMS verification.

The borrower will be Barnbrook Bury Ltd - company reg. no. 11321513 - a SPV set up to own this property. The directors and owners are Fabio Frisenda, Piotr Szydlik and Mark Knight.
Barnbrook Bury Ltd will either sell the converted property or refinance and hold.

exit strategy

Sell or Refinance

indicated return for your pledge



min. loan (6 months)



15 month loan



CrowdProperty Comments

The borrowers are well experienced in the Manchester HMO market having completed a number of similar projects. They tend to sell their projects on at completion but are keeping an open mind on this one as they believe its close proximity to Bury town centre makes this an ideal HMO for the professional market




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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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