Development Update August 2018
Alderley Edge HCD2
With every month that passes we get a little bit closer to seeing the fantastic finished product that is Alderley Edge.
The plastering is now 95% complete across 3 floors, whilst the 4th floor is now in the process of being plasterboarded. We have now completed the first fix plumbing/electric works. Garages and external walls are at 75% completion.
Although we planned to have the kitchen of plot 2 installed last month, there has been a minor delay with the tiles arriving from Italy. As a result, we have had to push the kitchen fitting back into this month. We have, however, started fitting all the skirting boards and putting the first coat of paint on both apartments 1 & 2. The stairs have now been installed throughout the building with the lift being introduced this month.
Apartment 4 still has issues to be resolved with the surveyor. We are, however, getting closer to exchanging our 2nd of the two apartments.
The next two apartments are still yet to be launched due to a tiling delay. Our project management team is meeting the estate agents this week for a further catch-up and update on the launch.
The Woodlands HCD3
The build at the woodlands is now in full swing, we’re seeing some real progress. Almost all of the properties within the last few weeks have been made watertight. From a build perspective, the project is on target and is looking like it will complete before the end of the year.
Plots 15 & 16 are now exchanged and are due to be completed in the next 3 weeks. Plot 17 & 18 aren’t far behind and will be in a similar condition in the coming months. To keep momentum strong, we are continuing to push for 3 more completions before the end of September.
Plot 2 was reserved earlier this month and there continues to be a lot of interest in plots 25 and 11. In order to push sales we have implemented a part exchange service. We have done this based on the fact that we are gaining a lot of interest from people with properties to sell, whose purchase is dependent on the selling of their own home. We are happy to report that we have since had increased sales enquiries and that 13 of the units are now reserved.
Bank Chambers HCD5
The development at bank chambers is nearing completion. We have a number of completions over the next few days. We have two estate agents helping us with the conveyancing and our in-house legal liaison working through any issues that may arise. We have commenced paying out phase 2 investors on a first in first out basis and will continue to do so as sales complete. We anticipate paying interest to phase 2 investors by the end of September.
Bollin Heights HCD10
Bollin heights is now into its last 6 weeks on the build.
We are aiming to have all 32 flats fully finished by the end of August, and the ground works by mid to late September. This month we have finished the car park and just opened the gym. We believe that these completions are contributing to a recent spike in sales, as both apartment 4 and 7 have now been reserved.
We have now repaid all capital to phase 1 investors and have commenced paying out phase 2 investors on a first in first out basis as sales complete. We currently anticipate paying out interest to all investors by the end of September, provided the sales of all units are complete.
Springfields, Sandbach HCD13
Also known as Coppenhall Way.
Sales at this site have been slower than forecast: hot weather, football fever and a general summer slowdown have all contributed to reduced activity in the housing market across the country.
We currently have two seriously interested parties and are expecting one formal reservation shortly – the second party is keen to proceed pending their own house sale. We continue to receive interest through the agents and our own channels. We are working hard to convert these into sales.
We are very pleased with the look, feel and finish of the completed houses. We hope you will agree when you look at the photos.
You can view the latest photos here.
Library House, Frodsham HCD14
The existing staircase has now been removed in order to form the last ground floor apartment. Following some red tape with the local authority, we obtained a road closure notice (for one leg of the crane) and the steel frame for the rear extension which has now been erected. The structure for the first-floor duplex apartments has been completed in the original building.
The soundproofing for these units is also complete. We are very pleased with the progress of the build and the strong local interest is positive. The first reservation has been taken and we are confident of more during the coming weeks.
You can view the latest images here.
Buckton View, Mossley HCD15
After a huge amount of earth moving and shaping work to the main site, the contractors have now started installing the capping layer to the access road. There has been a huge volume of material removed from the site and this is ongoing. Foundations to plots 1-3 are now complete and drainage has been signed off by United Utilities. The retaining structure has been installed between plot 3 and the neighbouring house.
The road to these plots is now under construction. Design work continues to progress in order to agree the details for the retaining wall that is required along the road. Our interior designer is working hard on kitchen layouts and finishes all the while looking for the best electrical socket and switch locations for the houses. Discussions are underway with BT in order to build in the infrastructure necessary to support the latest internet cabling. We aim to future-proof the development as far as possible. After the initial delays at this site, we are now very pleased with the pace of the development and the continuing sales enquiries at this early stage.
You can view the latest images and videos here.
Moss Farm, Leighton HCD16
We have been waiting on an easement from the local authority to lay foul drain over council land prior to completion of the purchase. This has now been agreed and is with the council for signing. Once we’ve received this we can complete on the purchase of the site – we anticipate this taking place early September. Pre-commencement work is also ongoing.
Parkside, Sandbach HCD17
Scaffolding has now been removed from all plots. All plots except 13/14 have been plastered and all kitchens have been installed up to plot 8. Second fix plumbing and electrical works are ongoing, whilst second fix joinery is almost complete. All plots have been tiled except 11-14.
Externally, the contractors are now setting out the site – the rear gardens have been paved and topsoil is in. At the front, the kerbs are going in, so the site is really starting to take shape. We are pleased to report that we now have 11 reservations out of the 14 houses at the site.
You can view the images here.
Fox Owl Rise (formerly The Egyptian Mill) HCD19
After consulting with local real estate companies, the Egyptian Mill development has now been renamed the Fox Owl Rise development – it was renamed Fox Owl Rise on the website on 15th August 2018, so will now show in investors portfolio areas under this name.
Our main contractors have taken possession of the site and hoarding has been completed. The contractor is currently setting up the site compound, they have commenced with stripping the site of vegetation ready for roads and sewers work to commence on site.
You can view the latest images here
Bridge View, Rudheath HCD20
Things are progressing well on site – the site strip and level has been completed. Foundation design is complete and due to start next week. Drainage design is underway. We have made changes to the internal layout and elevations which are currently under approval.
You can view the images here