Paid Back in Full

London Road, Tunbridge Wells, TN4 0PN

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

£360,000

interest paid*

10%

funds pledged

£360,000

number of investors

38

% of target pledged

Fully Funded

project type

Commercial to Residential Conversion

loan term

up to 6 months

security

1st charge

project phasing

1 of 1

total loan facility

-

floor area

2500 sq.ft.

rics valuation

£480,000

cost of work

£125,000

est. sales value (gdv)**

£774,000

initial loan to value

75%

loan to gdv

46.50%

owed at exit to gdv***

49.30%

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

indicated return for your pledge
interest
total
min. loan (6 months)
£200
£5,200
6 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

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Rigorous due diligence
1st Charge Security
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*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.

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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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