Fully Funded

South Lawn Terrace, Exeter, EX1 2SW

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

£145,000

interest paid*

8%

funds pledged

£144,985

number of investors

348

% of target pledged

Fully Funded

project type

Other

loan term

up to 12 months

security

1st charge

project phasing

1 of 1

total loan facility

£145,000

floor area

1380.7 sq.ft.

rics valuation

£235,000

cost of work

£0

est. sales value (gdv)**

£0

initial loan to value

61.7%

loan to gdv

62%

owed at exit to gdv***

67.8%

strategy & vision

Due to unprecedented product demand and as a result of user feedback, we have introduced a pledge limit for this project on a trial basis. This is to give those that take valuable time to perform necessary due diligence the greatest opportunity to successfully pledge at 10 a.m. Pledges will be limited to £5000 for the first 5 minutes that the project is live. Post 10.05 a.m pledges greater than £5000 can be created, or an existing pledge for this project can be increased (subject to availability).

The project is a bridge (bullet) for the purchase of: 18 South Lawn Terrace, Exeter, EX1 2SW. Exeter is a city with a population of approximately 130,000 and is part of the county of Devon. The city is located on the River Exe and is situated approximately 35 miles from Taunton via the M5 and 45 miles from Plymouth via the A38.

Exeter provides a range of services and attractions including Exeter Cathedral, the Royal Albert Memorial Museum and Devon Wildlife Trust. It also offers a range of restaurants, bars and hotels and as well as several primary schools, secondary schools and the renowned University of Exeter.

The city also boasts Exeter airport which provides flights to various European locations including Amsterdam, Rhodes, Zante and Malaga. The city also has three train stations; Exeter St Davids, Exeter Central and Exeter St Thomas which provide trains to locations including London, the South West and Plymouth as well as services to the north including Aberdeen and Manchester Piccadilly.

The property is located in Heavitree, Exeter which is just 1.5 miles east from the Exeter city centre and therefore benefits from the services mentioned above. Heavitree also has it's own amenities including several supermarkets, a pharmacy, a petrol station and several local shops. The property itself is directly opposite a doctor's surgery and a primary school, and benefits from being 0.5 miles away from the Royal Devon & Exeter Hospital.

The borrower has exchanged contracts for the purchase of the property and is set to complete on the 29th May 2019.

The property is a late Victorian terraced house built in the late 1800's. The property is located within a conservation area and thus permitted development rights are extinguished. The property formerly had a business on the ground floor and therefore the descriptions below are based on the former room types. The property is currently comprised of 1380 sq. ft spanning across three floors:

Ground Floor:- Entrance hall, sitting room, dining room and a bathroom with a sink
First Floor:- Two bedrooms
Second Floor - Two Bedrooms

The property also has a garden to the rear but has no garage. There is however, parking immediately outside which requires residential permits.

CrowdProperty has agreed to lend the borrower £145,000 in one raise to purchase the property.

exit strategy

The borrower intends to purchase the property, gain planning permission and sell the property with planning gain.

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

CrowdProperty Comments


CrowdProperty seeks to assist the borrowers with the purchase of a property in Exeter. The borrowers are experienced property professionals and are planning to sell the property after gaining planning permission.

The

CrowdProperty

Shield

Rigorous due diligence
1st Charge Security
Unparalleled expertise
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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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