Paid Back in Full

51 Hallewell Road, Birmingham, B16 0LP

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

£215,000

interest paid*

10%

funds pledged

£215,000

number of investors

55

% of target pledged

Fully Funded

project type

Residential (Standard Construction)

loan term

up to 8 months

security

1st charge

project phasing

1 of 1

total loan facility

-

floor area

1062 sq.ft.

rics valuation

£322,000

cost of work

£40,000

est. sales value (gdv)**

£322,000

initial loan to value

66.77%

loan to gdv

67%

owed at exit to gdv***

72.11%

strategy & vision

The Developer, Tushar Shah, has exchanged contracts on this property and is currently carrying out conversion works to convert it into a 7 Bedroom HMO (House of Multiple Occupancy) prior to completing the purchase at the end of June 2015. The property will then be operated as an HMO by the Developer, and this will be an extension to his current portfolio of rental and HMO properties. The property has been valued at £322,000 by a RICS valuer as a finished 7 bed HMO. The rental income of £39,600 per annum is also based upon the RICS rental valuation figures. The Developer has a successful track record of delivering above market rents for his HMOs and Single Lets. The Developer will refinance the HMO once operational to exit the CrowdProperty loan and return funds to the Lenders at the end of the loan term and will retain the property and operate it as an ongoing HMO business.

exit strategy

indicated return for your pledge
interest
total
min. loan (6 months)
£200
£5,200
8 month loan
£600
£5,600

CrowdProperty Comments


This is exactly the type of project we like to back on CrowdProperty.
A profitable HMO business and being run by highly experienced property investors that specialise in high quality profitable HMOs. 



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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.

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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Peer2Peer Financing Association
UK crowdfunding
UK Proptech Association
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