New build development of four luxury apartments

GDV: £3,580,000

Important note re the Coronavirus pandemic and its potential effect on reservations and sales:  Due to the lowering of restrictions our agents have been able to recommence viewings at Alderley Edge in June 2020.

Sales update: As of early January 2021 the conveyancing on the penthouse is ongoing with the warranties now sorted.  We are now completing the final parts of the sales process.

Late September 2020 we received an offer of £875,000 for the penthouse which we have accepted. Provided the sale concludes it will enable us to repay a large chunk of outstanding capital in phase 4.   There is now 1 unit left to sell. There is interest in this unit, and as of January 2021 we are looking at working with an agent who specialises in selling high end Cheshire property.

Click here to view the 360 degree tour of the penthouse apartment (Michael J Chapman Estate Agents – created September 2020).

Additional landscaping work was carried out July 2020 – see further down for photos of works in progress.

May 2020 new CGIs are with the sales agents and the gardens are to be landscaped to improve curb appeal.

Late February 2020 new agents have been appointed on the 2 remaining properties and new listings have gone up with the existing agent.

Early February 2020 Jackson Stops have advised that they have conducted several viewings of the penthouse with a potential purchaser who has indicated they are very impressed with the apartment and are considering making an offer. As of mid-February 2020 we are chasing for further news from the agent.

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.

December 2019 Jackson Stops have advised that all their properties in the Alderley Edge area are experiencing a low level of interest due to the election and Brexit uncertainty.  They believe the penthouse is an attractive property which should find a buyer at the price it is being marketed at, but it is a limited market place and sales can take a while.  Marketing of the properties are continuing, and we are hopeful that the New Year will lead to an increase in interest.

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.  December 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% (March 2019 we commenced paying out phase 4 investors their capital as sales completed.  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.

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

Landscaping images July 2020

July 2020 additional landscaping work has been carried out at the site and the 2 current residents have provided positive feedback on the work.  Hopefully this work will attract further interest in the 2 remaining units.  Images are below.

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.

Most Recent Images: