Paid Back in Full

London Road, Tunbridge Wells, TN4 0PN

Developer: JVIP (Kent) LTD

loan amount

£360,000

interest paid*

10%

funds pledged

£360,000

number of investors

38

% of target pledged

Fully Funded

project type

Conversion of existing residential property to multiple units

loan term

up to 6 months

security

1st charge

project phasing

1 of 1

floor area

2500 sq.ft.

purchase price/value

£480,000

cost of work

£125,000

loan to value

75%

est. sales value (gdv)**

£774,000

owed at exit to gdv***

49%

strategy & vision

A pub conversion to form 4 flats and 2 shops which already has planning permission. Retail units on the ground floor, 2 one bed and 1 2 bed flats on the first floor and 1 two bed penthouse on the 2nd floor. The refurbishment has commenced and will be completed in November 2014. It is anticipated that the sales phase will be completed by end of Q1 2015.

exit strategy

the borrower
& project team

JVIP (Kent) Ltd is a family owned and run company that adds value to property and creates inspirational homes. Now in their 8th year as JVIP (Kent) Ltd and actually 14 years as a family operation, they have completed over 150 successful refurbishments, conversions and new builds.

This particular opportunity is held in a different company namely Launch Pad Developments LLP set up by the directors of JVIP (Kent) Ltd specifically to undertake this development.

indicated return for your pledge
interest
total
6 month loan
£200
£5,200
18 month loan
£600
£5,600

CrowdProperty Comments


The borrowers are very successful property developers, who have completed over 150 property development projects. They are well known to the CrowdProperty team and we believe they are very capable of delivering this development on time and in budget. This particular development is already well underway and extra time has been built into the time required in order to sell the completed units. We anticipate this will be the first of many developments which CrowdProperty will help these particular developers raise funds for. We hope you decide to be part of the first development funded through CrowdProperty.

The

CrowdProperty

Shield

Rigorous due diligence
1st Charge Security
Unparalleled expertise
more
*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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