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.
|Minimum 6 month Loan||Full 6 month loan period|
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.
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.
* Please see full risk statement here.
† Estimated Sales Value is more formally referred to as GDV - Gross Developed Value
‡ Interest Cover is a measure of the project's ability to cover the interest payments from profits and is calculated by dividing the Projected Return on Costs by the Total Interest incurred throughout the loan period