New build development of four luxury apartments

GDV: £3,580,000

Work on site: Commenced April 2016 – site work now completed as of June 2019.

Sales update: 2 plots are now occupied with the sales having completed and 2 plots are left to sell as November 2019. We will be looking at changing agents in January 2020 if the current agents do not progress matters any further – whilst there is some interest in the remaining 2 units, we have received no concrete offers to date.

The 3rd plot reservation unfortunately fell through after the purchaser pulled out for family reasons.  July 2019 we brought further agents in, in order to push the sales of the last 2 units.  Jackson Stops were appointed in August 2019 to sell the penthouse apartment.  At present estate agents have advised that sales in this price range are slow though as of October 2019 viewings are ongoing – Brexit uncertainty is not helping.  The apartments have been spruced up September 2019 in order to attract interest.  November 2019 the sale of the freehold is still ongoing.

Click here to view one of the properties for sale with Michael J Chapman Estate Agents.

Click here to view the penthouse apartment listed with the same agent.

As of the start of September 2019 Jackson Stops are also marketing the penthouse apartment – click here to see the sales details.

Fund Raises/Investor return:
Fund Raises/Phase 1- 10% (all capital repaid)
Fund Raises/Phase 2-10% (all capital repaid)
Fund Raises/Phase 3- 10-12% (all capital repaid)
Fund Raises/Phase 4- 9% (as March 2019 we have commenced paying out phase 4 investors their capital as sales complete.  Please note we cannot pay out further capital until we complete on the sale of one of the 2 remaining units).

Investors capital repaid: As of the end of May 2019 all phase 1- 3 investors have been repaid their capital and we will continue to repay capital to Phse 4 investors as sales complete.  Investors will be emailed when it is their turn for their capital to be repaid.

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.

Original site progress information below:

June 2019 update:

-Alderley Edge is now build complete. We are now working to market the properties

May 2019 update:

– Snagging works are now complete

-Remaining two units are complete with snagging works now completed

-Remaining two units await final touches from HC & Interior Designer of bedroom side lights, and mirrors in bathrooms being installed, and carpets fitted – this is now in Rock’s hands, and once complete he will arrange for photography to be carried out via agent for Marketing purposes.

-The roof finish is now complete

-The Lift is operational

-Glass installed to remaining balcony

-Smoke AOV work to commence next week

April 2019 build update:

-Remaining two units are complete with last checks works ongoing

– Roof finish is yet to be started

– The lift is now fully operational

– Glass installed to remaining balcony

March 2019 build update:

– One unit is complete with a snagging inspection taking place 26/03/2019

– Two units are now occupied

– The final unit is due to be complete this week

-The roof finish has yet to commence

– The store rooms are now complete

– The foyer area on the ground floor to lift is also complete- carpets are arriving next week

– The lift will be fully operational once the workforce has left the site

February 2019 build update: 

–  Another apartment is undergoing snagging and final checks

– The final unit is in the process of being tiled and should be complete as per the construction schedule

– The roof finish will be commencing this week

– The store rooms and garages are now approaching completion

– The lift will soon be operational, providing greater access to the build

January 2019 build update:

-The lower two apartments of No 10. Alderley Edge are now complete

-The ground floor apartment of the development is currently receiving kitchen installations.

-Top floor apartment  is complete. Final checks are ongoing and should soon be complete.

-We are painting the lower floor of the communal area and will soon make a start on installing a handrail on the upper floor of the development.

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