Hillcrest, Colchester Road, Thorpe Le Soken, Essex, CO16 0AD

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 18 months


1st charge

project phasing

1 of 1

total loan facility


floor area

2873 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


The site is located on the Colchester Road midway between the villages of Thorpe Green and Weeley and approx. 1.3 miles from the village of Thorpe Le Soken. The plot is approx. 0.52 acres surrounded by fields with planning permission for a 6 bedroom detached house with four reception rooms. The site is situated within the Tendring District Council and benefits from planning consent ref: (15/00976).

The construction works have commenced with ground works, foundations and ground floor slab constructed. The Borrower Coleman and Clarke (Co. Reg. No. 05485008) purchased the site in 2016 and intends to sell the completed development.

RICS valuation of the property in its existing condition is £250,000

RICS estimate of completed development (GDV) is £720,000

CrowdProperty has agreed to lend the borrower £265,000 in a single raise

18 months (max) loan term


Thorpe Le Soken is a village situated in the Tendring district approx 12 miles east of Colchester. The B1033 links the village with Frinton-on-Sea and Colchester, whilst the B1414 provides good connection to Clacton-on-Sea and Harwich. Both roads provide good access to the A120 and A133. The village benefits from the Thorpe Le Soken railway station with hourly trains into Colchester and London Liverpool Street approx. 1 hr 40 mins away. The village also benefits from other amenities nearby including:

- Rolph Church of England (C of E) primary school 1.3 miles
- Thorpe Campus of Tendring Technology College (Years 7,8 and 9) 1.5 miles
- Thorpe Le Soken sports and social club 1.5 miles
- Homestead Lake Country Park 1.2 miles
- Weeley bridge holiday Park 1.7 miles

The site, irregular in shape and totalling 0.52 acres has direct access from Colchester Road. The borrower has commenced works with ground works, foundations, floor slab and drainage complete. The development when completed will provide a 6 bedroom, 4 reception room house with total GIA floor area of 2,873 sq ft (267 sq m)

Ground floor 1506 sq ft (140 sq m)
First floor 1367 sq ft

There is currently no debt on the site which the borrowers purchased in 2016.
CrowdProperty has agreed to lend the borrower £265,000 in a single raise which the borrower requires to complete the project. £70,000 will be drawn day 1 based on a RICS valuation of £250,000 representing 28% LTV. The estimated total cost of works is £320,000 and the remaining loan will be drawn in stages based on Independent Monitoring Surveyors verification. The amount owed at exit to GDV and once works have been completed will represent a LTV of 42.3% including rolled up interest.

1st charge security will be provided as registered in the normal way with the Land Registry.

The loan term will be a max 18 months and we are targeting a start date of 11th January 2019. Once the works have completed the borrower intends to sell the completed development.

exit strategy

The borrower will complete the development and sell.

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

CrowdProperty Comments

The Directors are experienced in every aspect of the development process including electricals, engineering, construction management and project management. Steve has a vast wealth of experience in residential/commercial developments having been project manager on several projects for 25+ years and David has been involved in multiple electrical fittings for residential properties. The project is well located with easy access to public transport. The low LTV reduces the risk.




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. 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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