HCD20 Bridge View, Rudheath, Cheshire
We commenced repaying capital to investors in phase 1 September 2020 with all phase 1 and phase 2 investors repaid their capital by 29/10/20.
We commenced paying out phase 3 capital to investors on 29/10/20. Investors who will be receiving a capital repayment will be emailed before the payment run.
As of July 2020, the build is complete with snagging ongoing and the first buyers starting to move in.
Drone footage taken October 2020:
New build development of 19 waterside houses on the site of a former farm in Rudheath, Cheshire. Contractors responsibilities involve construction of the houses, forming a new access road, installation of services and external landscaping works. This site is now complete.
Sales Updates: As of 20th November 2020 the situation is unchanged from the previous week. We have now completed on 11 sales (note the sale of one plot has been delayed by the buyer for understandable personal reasons). 7 units are reserved. We anticipate another completion by the end of November 2020 (Help To Buy has slowed this sale down as there are backlogs with the process), new lockdown permitting. There is still 1 unit left to sell. Our agents anticipate having this site fully sold by the end of 2020 but there is a seasonal slowdown at the this time of year.
Please note sale completions continue to be affected by disruptions in the lending, legal and local authorities which is a national issue.
The site is being marketed by Specialist Property Solutions.
As of mid-July 2020 all houses on this site have been signed off by building control and most building control certificates have been received with warranties arriving by the end of July.
We anticipate increased interest after the government’s announcement regarding the stamp duty holiday and our agents have increased staffing levels accordingly.
The view home has been completed to an excellent standard and is generating plenty of interest. Images of the view home are at the bottom of this page.
Investor capital repaid: none repaid to investors to date; we are however aiming to start repaying fundraise 1 investors w/c 7th September 2020 as a number of sales have completed recently. Investors will be emailed when it is their turn to have their capital repaid.
Fundraise 5 was the final fundraise.
Fund Raises/Investor target returns:
Phase/Fund Raise 1- 10% – all phase 1 capital returned by 29/10/20
Phase/Fund Raise 2 – 10% – all phase 2 capital returned by 29/10/20
Phase/Fund Raise 3 – 9% – phase 3 capital repayments commenced 29/10/20 – investors will be emailed when it is their turn to be repaid their capital.
Fundraise 4 – 9%
Fundraise 5 – 9%
Information re interest payments:
We will not be a position to pay any interest until all capital has been repaid, and all units are sold. At the moment we are working hard to progress sales, and do not yet have a timeframe for the payment of interest
Work commenced on site: July 2018. Work is now complete as of July 2020.
Site Schedule Information:
Work onsite is complete as of July 2020 with snagging ongoing as new purchasers move in.
The site re-opened 20/4/2020. As of the end of May 2020, we anticipate work on site being complete by the end of June/start of July 2020. Work onsite is challenging with the new government guidelines, but the contractors are pushing to be completed by that date with the exception of the movement of the Scottish Power pole that is located in the entrance area and the resultant knock on effect to that area of the site.
March 2020 our contractors are still currently on site, but we are closely monitoring government guidelines with regards to the Coronavirus, and this situation could change at any time. The site was closed for a month which has put it further behind schedule by 4 weeks.
Site originally scheduled to be complete by end of October 2019. As of January 2020 the build is behind schedule and is now scheduled to be completed by the end of March/early April 2020. Delays have been caused by inclement weather, especially through July and August 2019 and also the storms in January and February 2020. Further delays have been caused by the complexity of junction details to the terraced units.
There have also been issues with the amount on water on site which has prevented progression of the drainage, external works and installation of services. Additional drainage has been installed which has rectified this issue.
Our contractors will endeavour to claw back as much time as possible throughout the rest of the build as when the site reaches the stage where most of the work is internal the weather has less of an impact on the build. Once the site is at a stage where purchasers can move in we will progress sales.
As this stage we do not have a time frame for when we will be able to start repaying investors their capital as this is dependent on sales progressing.
The latest site updates are below:
Professional images Oct 2020:
Site images Sept 2020:
9 of the houses are now completely decorated and finished.
All of the plastering works with the exception of remedial works and snagging is completed to all dwelling.
The last kitchen will be fitted w/c 1/6/202 once delivered from the supplier.
All of the kitchen floors have been tiled except for plot 17.
Bathroom tiling is complete up to plot 13 leaving only plots 13-17 to complete.
Final sparkle cleans have been carried out to plots 1-5. Cleaning through the decorated dwellings is being progressed with final mastic works to follow.
Gas/water meters are now installed and electric meters are due to be installed commencing 28/5/2020.
External works commencing 28/5/2020:
Tarmac for the main access road and drives is book in to commence 1/6/2020.
Landscaping is scheduled to commence 15/6/2020.
Turfing and hedges is being left as late as possible as due to the current warm weather stock will be the best. We have allowed 2 weeks for this planting.
Once the stoning of the access road is completed contractors will be moving onto the block paved turning area adjacents to plots 17 and 18 so the block paving can be installed. The block pavers are already on site ready to start.
As mentioned above there is an issue with the Scottish Power pole and its move. SP are stating this this is not essential work and are not giving a date that this can be carried out. We are escalating this and trying to ensure that this issue does not impact on site completion.
Latest site images as of end of May 2020:
Update 7/5/2020: work on site is continuing with suppliers starting to re-open. The latest site images are further down the page.
28/4/2020 update: work on site is progressing but there are some difficulties sourcing materials and some trades, in particular plumbing, are not yet fully back on site.
Work is carrying on in the last 2 plots in terms of plaster board and skimming. This work should be complete by mid-May 2020.
The kitchens are installed up to plot 11 with further kitchen deliveries anticipated by the start of May as the kitchen suppliers are now back at work.
2nd fix electrical works are up to plot 13 so they are working just behind the plasterer.
Tiling is currently ongoing plots 12-15 with the kitchen floor tiles. Bathroom tiles are anticipated to be delivered by the start of May 2020. There has been a delay with these tiles arriving.
Painting work will recommence 4th May with 2 painters at work initially and more coming on site as required.
The site was re-opened for 2 days earlier this month in order to allow National Energy Direct to complete the services installation to all properties with the exception of plot 3 as they ran out of time. This is being re-booked for as soon as possible.
Site images 19/5/2020:
Site images 5/5/2020:
The site is making good progress assisted by the weather. The images below were taken 1.5.2020.
April 2020 site images:
Work on site 23/4/2020 commenced with BT ducting around plots 1-3 and 4-7. Next stage is to top up the stone areas for the additional paving variation and commence the paving works. We are also trying to get the fencer back on site 30/4/2020 to commence the canal side boundary fencing.
16/4/2o20 our QS has advised that Pioneer are still aiming to re-open the site w/c 20/4/2020.
8/4/2020 our QS has advised that Pioneer are in the process of re-writing site regulations to ensure that all government guidelines during the Coronavirus Pandemic are followed. They are aiming to be back on site 20/4/2020 and all site contractors will be re-inducted. This date is partly down to when they anticipate suppliers re-opening for business.
1/4/2020 our QS has advised that as per the government guidelines that have been issued to developers, our contractors, Pioneer are looking to get a reduced team back on site 14/4/2020 after the appropriate procedures have been put in place for social distancing. There may still be issues with obtaining materials due to a number of businesses being closed for the duration.
25/3/2020 our QS has reported that a reduced team is working externally with minimal internal works being carried out. The decision was made to close the site on 26/3/2020.
Other February updates:
As of late February 2020, the fourth block is nearing completion with the 2nd fix M&E works and decorations left to complete. PLots 1-2 are complete, as is plot 3 with the exception of 2nd fix joiner and decoration. Decorations are on hold so the paintwork is fresh closer towards handover to final purchaser. Plots 4-7 and 18-19 are complete except decorations (on hold as above).
External drainage nearing completion with the sewer connection elements left to install. The new pumping stations was delivered 21/2/2020 and will be installed along with the new drainage runs w/c 24/2/2020.
The installation of services will commenced 24th February 2020 and after this is completed the contractors will be in a position to manage a specific plot handover sequence.
External kerb/edging works commenced w/c 24/2/2020 along with the external metal railings.
February Build Updates:
The blocks were progressing well with a view to plot handovers at the end of April 2020. Due to the Coronavirus, the handover will now be delayed.
Road works had commenced, kerbs and services were going in.
Rear gardens were cleared and ready to progress.
February 2020 Site Images:
Click here to view more site images.
January 2020 Updates:
4 Block: plastering complete, doors being installed to plots 4,5 and 7. All 4 plots – decoration left to complete, tiling and kitchens to install. Terrace paving slabs to install.
Plots 18/19: only work left to complete is internal decorating.
10 Block: Plot 8 – plastering complete. Plot 9 – plaster boarding ongoing. Plot 10 – walls currently being skimmed. Plots 11 and 12 – currently plaster boarding is underway. Plots 13-17 – metal stud installed. All plots – 1st fix mechanical and electrical complete.
December 2019 Update:
4 Block: stairs complete to all 4 hours, 1st fix MEP work complete, dormer windows installed, other external windows being installed, plastering in progress.
10 Block: Roof feling to plots 9 and 16 ongoing, Plots 8, 10, 15 and 17 roof tiling complete, screed to most plots complete, 1st fix partitions commenced, 1st fix MEP works commenced, stair installation to all plots nearing completion.
Plots 18/19: platering complete, tiling in progress, 2nd fix MEP commenced, entrance doors complete.
Oct 2019 Update:
– Roof timberwork complete. -Roof felting to plots 10 to 15 underway. -Plots 8 and 17 roof tiling complete. -Screed to plots 8 and 17 complete.
Plots 18/ 19
-Windows complete. -Plot 18/ 19 plastering nearing completion. -Plots 18/ 19 1 st fix MEP complete. -Plot 18/ 9 1 st fix partitions complete. -External works to rear gardens underway. All rubbish and undergrowth removed..
Sept 2019 Update:
– the show house is now complete build wise, and is in the process of being dressed
– brickwork to all plots is now complete
– roof timbers are complete to the majority of plots 8-17
– partitions and plastering complete to plots 1-3
– windows and doors complete to plots 1-3
– Mechanical, electrical and plumbing works ongoing to plots 2-3, 4-7, 8-19
August 2019 update:
– Works progressed in the period
– Brickwork to all plots nearing completion (final few cut ups to complete)
– Plots 18/19 brickwork complete and roof trusses installed
– 1 st fix MEP & Joinery works is complete to plots 1 2, plot 3 ongoing
– Partitions and plastering is complete to Plot 1 and ongoing to Plots 2 3
– Roof trusses ongoing
July 2019 update:
Main contractors Pioneer Design & Build continue to make excellent progress on site despite the challenging weather conditions. As of the start of August 2019, plots 1-3 are now water-tight, scaffolding has come down and first fix mechanical, plumbing and electrical work is underway. Brickwork is almost complete to the remaining plots, and installation of roof timbers has commenced.
June 2019 update:
-Installed the remaining foundations to plots 18&19
-Blockwork and facing brickwork is ongoing to 17/19 plots.
-The majority have been laid beyond the 1st floor
– Erection of scaffolding and crash decks are ongoing beyond the 1st lift
– 1st floor joists have been installed to 17/19 plots and caberdecks progressing
– Roof trusses have been delivered in preparation for install over the next period
May 2019 update:
– Viewing property should be complete by the end of June 2019
– Signage has been installed and flags are due to go up imminently. This will help drive sales and attract potential buyers.
April 2019 build update:
-Piles, beam and block floors have been installed to 17 of 19 plots.
– Sub-structure brickwork has commenced to 17 plots. Works across plots 1-7 have progressed to installation of facing brickwork
-Start on site was delayed due to obtaining a revised planning consent as well as the Contractor working on a revised foundation design for the scheme.
-Due to reported high winds and rain experienced over the last reporting period, we are currently reporting a 3.5 week delay on the build of the development. We are looking to make this time up however
March 2019 build update:
– Piles have been installed from plot 17-19
-Ground beams are now in position for concrete to get poured across plots 2 & 3
– Beam and block flooring have been installed to plots 8-17
-Internal drainage installed to 14 to 19 plots
-Although we were subject to various delays (when we first started onsite) due to revised planning consent , a revised work schedule will now enable us to make up for any lost time.
February 2019 build update:
– Piling has commenced and has been completed to 17 of the 19 plots. Steel cages have been delivered to the site in order to prepare for the casting of ground beams
– Orders have been placed for roof trusses, floor joists, M&E and internal walls
January 2019 build update:
-Work has begun to lay the foundations for the properties in this development. To date, the piling has been completed on 17 out of the 19 plots. You can see the piling progress on the image on the right below.
-Drainage regulations for building work means that we have to install large ‘attenuation’ tanks to store surface water created on the development. These tanks have been installed, which means the brick work can start.
Show Home Images:
Site images Feb 2020 (note the image showing the amount of water at the site):