Paid Back in Full

Kingsleigh House, Culver Road, Saltash, PL12 4DP - Phase 2

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

HMO (House in Multiple Occupation)

loan term

up to 7 months


1st charge

project phasing

2 of 2

total loan facility


floor area

6794 sq.ft.

rics valuation


cost of work


est. sales value (gdv)**


initial loan to value


loan to gdv


owed at exit to gdv***


strategy & vision

Kingsleigh House, Culver Road, Saltash PL12 4DP comprises an extended grade 2 listed detached 2 storey building formerly occupied as a nursing home which ceased trading in 2014. Construction is of solid granite stone under a parapet pitched slate roof together with mansard extensions. The original building is believed to date back to early 18th Century.

The property has undergone significant alteration over its life including 20th century 2 storey flat roof extensions. With much of its original character lost, it is only really the front elevation and street scene that is considered to be the most significant elements in terms of heritage.

The property is located in Saltash town centre, falling just outside the Lower Fore Street conservation area and situated on the west side of the River Tamar in East Cornwall. Plymouth is 6 miles to the west, via the Tamar Bridge. Brunel's Royal Albert Bridge sits alongside taking the main railway line from London to Cornwall. Saltash has a population of circa 16,000.

Internally the property is arranged into 16 ensuite bedrooms, staff offices, a passenger lift, residents lounges, kitchens and dining room. The total size is around 6,794 sq.ft.

A listed planning consent has now been granted (PA16/03637) to provide luxury apartments as follows:

7 x 1 bed apartments
2 x 2 bed apartments
1 x 3 bed apartment

The property was purchased for £320,000 by KHP Developments Ltd. a JV set up between Philip Bailey, Kiel Bailey, James Yorke and Murat Haykir. The partners are all involved in property; Philip is an architect, Kiel a Building Surveyor, James and Murat are construction project managers.

CrowdProperty have already lent £227,000 as a phase 1 lend towards the purchase of the property. This Phase 2 loan will be for £387k and will be released in stages subject to monitoring surveyor reports. The loan will be for a minimum term of 6 months and a maximum term of 16 months.

Anticipated GDV of the project is £1.25 million and with total costs of £985,280 (including purchase price, build costs, sales costs, interest and fees), the developers will have a profit of £264,720 resulting in a profit on cost of 26.8%. Total borrowing from the crowd of £614,000 gives the project a loan to end value of 49%.

exit strategy

Capital and interest will be repaid from the sales proceeds.

indicated return for your pledge



min. loan (6 months)



7 month loan



CrowdProperty Comments

Phase 1 of this project, to purchase the building before planning permission was granted, proved to be very popular with the Crowd.

Now that listed planning permission has been granted, we are delighted to bring Phase 2 of this interesting project to the platform.

With a highly experienced team and a Loan to Value of just 49% of the end value, we believe this is a very safe project for our lenders and expect it to be as popular as Phase 1.




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.

share this 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.

ask a question
Property Awards
Property Awards
Growth Finance
Birmingham Post
Money Net Awards
P2P Finance News
Bridging and Commercial
Money Age
Money Age
peer2peer Finance Association
Brismo Verified
ECN Gold Member
UK CrowdFunding
UKPropTech Association
Trusted Land
As featured in...
financial times
the times
City AM
Daily Mail
FT Weekend
The Sunday Times
Investors Cronicle
The is money
Business Life
Die welt
Property Week
Development Finane Today
Property Investors News
Property TV
Peer2Peer Finance News
Angel News
University of Cambridge - Judge Business School