Fully Funded

Liberal House, Bell Lane, Studley, B80 7LR

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

£297,000

interest paid*

8%

funds pledged

£297,000

number of investors

73

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 15 months

security

1st charge

project phasing

1 of 1

total loan facility

-

floor area

2787 sq.ft.

rics valuation

£175,000

cost of work

£190,000

est. sales value (gdv)**

£500,000

initial loan to value

70%

loan to gdv

59%

owed at exit to gdv***

67.85%

strategy & vision

Liberal House, Bell Lane, Studley, Nr. Redditch B80 7LR comprises a traditionally built 2 storey detached commercial office property. Studley is a satellite village of Redditch comprising local shops, pubs, schools and a hospital. This bustling village is located 5 miles south of the M42. Redditch town centre is approximately 4 miles. Main employers of Redditch include AT+T, The Law Society and GKN. The population of Redditch is 65,000.

Studley has a population of just 6,000 people and provides excellent links and local amenities.

Planning has been granted to convert Liberal House into 2 X 3 bed apartments from Stratford BC planning ref. 16/01042.

The RICS valuation of existing property is £175,000, the price which the borrower is purchasing the property for.

RICS estimate of converted property with works completed (GDV) is £500,000.

CrowdProperty has agreed to lend the borrower £297,000 towards the purchase and conversion. Initially £122,500 will be lent towards the purchase with the remainder being drawn down in tranches on verification of our IMS reports. LTV 70% > 65.34% at completion of works and including rolled up interest.

The borrower has exchanged contracts. The loan term is a max of 15 months and will commence on 20th August 2018.

1st charge security will be offered.

exit strategy

On completion of the works the borrower will refinance and hold

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

CrowdProperty Comments


This is an excellent opportunity to convert a disused commercial property in a sustainable manner to meet the current housing needs.

The conversion of the property into 2 self contained flats will be completed within a 9-12 month period allowing time for Paul to refinance and redeem his loan to The Crowd.

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. 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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