Fully Funded

Land at Jubilee Gardens, Westbury, Shropshire, SY5 9EQ

Developer: Richard Cambray

loan amount


interest paid*


funds pledged


number of investors


% of target pledged

Fully Funded

project type

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

loan term

up to 18 months


1st charge

project phasing

1 of 2

floor area

5770 sq.ft.

purchase price/value


cost of work


loan to value


est. sales value (gdv)**


owed at exit to gdv***


strategy & vision

The land at Jubilee Gardens, Westbury, Shropshire SY5 9EQ is situated 8 miles west of Shrewsbury and close to the Welsh border. The village has a population of 1,352 (2011 census). Road connections to Shrewsbury are via B4386. The village provides a number of local amenities including a Primary School, Post Office, Medical Practice, The Lion Public House and St Marys Church. The school has a pupil size of about 40 (50% capacity) and Shropshire are to merge 3 local schools including Westbury into 1. It is not clear if the Westbury school will be retained or not. Residents are in the main commuters into Shrewsbury.

Shrewsbury is the county town of Shropshire and has a largely unspoilt medieval street plan and over 660 listed buildings, including several examples of Tudor properties from the 15th and 16th centuries. The population of Shrewsbury is 71,000 and is connected to the motorway network via the M54 and has direct trains to London via the west coast main line.

The opportunity comprises a development site with outline planning permission (Application no. 14/01469/OUT) with reserved matters for each unit 16/02448, 16/02449, 16/02450 and 16/0245) now confirmed for the construction of four detached bungalows. The site is currently laid to grass and a post and barbed wire fence separates it from the pastureland to the west. There is a brick wall to the south side and shrubs separating the land from the new development on the east side.

The proposed development will provide 4 x three and four bedroom bungalows set in their own individual plots, accessed from a single estate road leading from the adopted lane. Each unit will include a large sitting/dining room, kitchen/living room, utility, bathroom and three/four bedrooms, one of which will have an en suite shower room. The external elevations will be constructed of a mix of brick, render and stonewalling, beneath a pitched and tiled roof. The units will incorporate double glazed UPVC windows and underfloor heating throughout. Plot 3 will incorporate an integral garage.

The bungalows will have the following approximate floor areas:-

Unit 1 – 118m2/1270ft2
Unit 2 – 118m2/1270ft2
Unit 3 – 150m2/1615ft2
Unit 4 – 150m2/1615ft2

Total GIA floor area of 526m2/ 5,770ft2
Total site area: 1 Acre

The borrower has exchanged contracts on the purchase of the site and commenced works on 19th November. He is due to complete the purchase on or before 21st December 2018. The purchase price is £400,000 and this has been verified by RICS valuer. RICS estimate of GDV of completed development is £1,420,000. Build costs are estimated at £850,000 including consultants fees.

CrowdProperty has agreed to lend £750,000 towards this development to be raised over 2 phases. The 1st phase raise will be £350,000 with £280,000 being provided to the borrower day 1 representing 70% loan to value. The 2nd phase raise will take place towards the end of January 2019. All remaining funds will be held by us and drawn on Independent Monitoring Surveyor’s verification.

CrowdProperty will have the first charge as registered at The Land Registry to protect lenders in the event of default. Estimated GDV of £1,420,000 at completion of the works will equate to 60.7% LTV.

Loan term Is a maximum of 18 months; minimum of 6 months. The exit strategy for the developer is to build out and sell on completion of the works. The loan is therefore likely to be returned to the lenders in tranches and as and when sales of the completed bungalows have been completed.

The loan is expected to commence on or before 21st December 2018.

exit strategy

Build out and Sell

the borrower
& project team

Richard Cambray qualified as a Chartered Surveyor in 1992 having graduated from the Royal Agricultural College in 1989. He has 20 years experience in site assembly, planning and project delivery predominantly in the Shrewsbury area.

The Westbury project is to be delivered through Newgate Properties Shropshire Ltd - co. reg. no. 09051611 which is jointly owned between Richard and Malcolm Davies. Malcolm has a background in Procurement and Construction and the two of them have worked together over the last 16 years on a variety of projects in and around Shrewsbury, dovetailing their skill set to deliver good quality homes to the local market.

Projects include:-

The Anchorage, Shrewsbury
Purchase of site with failed public house and grounds, 0.25 miles from Shrewsbury town centre
Interim letting as pay and display car park whilst working up a residential scheme (approximately 17,000 sq feet), across 12 units
Gained planning permission, with no social housing allocation or wider section 106 contribution. Built out and sold.

Plough Meadow, Leintwardine, Herefordshire
Purchase of land in Leintwardine, North Herefordshire. Achieved planning permission for 10 units (6 houses and 4 bungalows), the development was built out and all units sold

Development land at Pontesbury
Purchased in 2016 with an outline planning consent for housing. Reserved matters consent has been secured for the development of 18 houses of between 3-5 beds. Pontesbury is 8 miles south of Shrewsbury. The developer will commence on site Q1 2019 with the view of building out and selling.

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

CrowdProperty Comments

The borrower has a wealth of experience in residential development and with 100 units now under his control in and around Shrewsbury has a very good understanding of the local market. He has been involved in the Shrewsbury residential property market for more than 25 years and is well connected having excellent working relationships with Stakeholders and Consultants.




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 and you may lose all you lend. See our full risk warning for more information

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