New build development of 45 houses and 9 apartments in Oldham, Greater Manchester.

GDV: £10,990,000

Commencement date of work on site: October 2018

Status: Under construction (as of February 2019)  As of July 2019 construction is on track though the adverse weather later in this month may well have an impact.

Reservations/Sales: as of mid-August 2019 we have 3 reservations – the Buckton View show home opened to viewings 8th June 2019 which led to 2 further reservations that weekend, on top of the unit already reserved.

Fund Raises/Investor return:

There will be further fundraises in order to fund future build costs – this is a large site which is why it requires so many fundraises.  To date no capital has been repaid as the site is still under construction.

Phase/Fundraise 1 – 9%
Phase/Fundraise 2 – 10%
Phase/Fundraise 3 – 9%
Phase/Fundraise 4 – 9%
Phase/Fundraise 5 – 9%
Fundraise 6 – 9-10%
Fundraise 7 – 10%

Marketing updates:

– A sales cabin is now available at Buckton View for this development as both developments have very similar specs.

– Sales hoardings are now up.

– We continue to receive interest from potential buyers

July 2019 Update:

The adverse weather in July has had an impact on the build as it is difficult to complete external build work in such weather.

Over the course of the last month, the following works were progressed:

At Block 1: Superstructure works commenced

At Block 6: We have completed floor joists to chamber level. We have also completed superstructure masonry to the structural wall plate

At Block 7: Masonry to the chamber has been completed and we have installed floor joists & boards at chamber level. We have implemented lift scaffold for masonry super structure on the 1st and 2nd floors.

At Block 8: We have completed installing floor joists & boards at Chamber level. We have also completed masonry at chamber level

At Block 10: Gas membrane has been installed and we have made a start to superstructure masonry

At Block 11: Block and beam flooring have been completed. Superstructure work commenced

At Block 4: Foundation concrete poured. Completion of sub-structure masonry

At Block 5: Poured foundations and completed sub-structure masonry

June 2019 Update:

Over the course of the last month, the following works were progressed:

At Block 1:

-Sub-structure masonry has been completed
-Beam and Block to ground floor has been completed Drainage has been plotted
– Gas membrane has been laid under the ground floors as per building regulations

At Block 4:

-The foundations have been dug out and the steel up is ready for concrete

At Block 5:

-The foundations have been dug out and the steel up is ready for concrete

At Block 6:

-Masonry to the chamber has been done

-Brickwork has been completed up to chamber joist level and joiners have commenced installing decking

At Block 7:

-Masonry to the chamber has been completed Installation of floor joists & boards at chamber level are only to plots 37 & 38 The 2nd floor sub-structure masonry to wall plate has commenced

At Block 8:

-The 1st lift scaffold is up The trad deck has been installed The masonry to chamber level is complete

At Block 10:

-The sub-structure masonry has been completed Beam and Block to GFL has been completed Drainage has been plotted

At block 11:

-The foundations have been poured The drainage has been plotted

 

May 2019 Update:

-Hoarding has gone up directing potential buyers to our nearby site Buckton View development (4 miles away) as per the reasoning in the sales update.

-Work is progressing well as a whole, partly thanks to the good weather that we have been receiving .

 

April 2019 Update:

– Cut and fill is now complete

-Excess material is now being stored on site and is expected to be removed over next period in preparation of piling works.

 

March 2019 Build Update:

– The land has now been levelled and excavated material has been stored onsite to be removed at a later date.

– Piling work is currently underway from plots 6 through to 11. This will make the ground beneath the developments sturdier and stable.

-Approximately half the piles that are already in the ground were being cut down at the time of the site visit.

-Substructure blockwork (the foundations) have been laid in anticipation of the upcoming brickwork

-Foul (domestically produced water) and surface water (roof or ground water) connections have also taken place over the past month.

-As a whole, everything continues to progress on schedule

– A property that will be available for viewings is on track to be implemented in August

February 2019 Build Update:

– The extensive excavation work on the site is now complete and we await removal of excess material which will be removed later in the build.

– We have now completed piling works on blocks 6, 7, 8 (the insertion of vertical columns of concrete/steel driven deep into the ground to give extra support to the foundations above).

– We have also commenced laying tarmac to the access roads.

January 2019 Build Update: 

– The building site has been stripped of all bushes, foliage, rubbish etc – a process known as ‘site strip’.

-Foundation work has been completed on 2 of the 11 blocks on the site, however, a period of rainfall has slowed this process down. We’re scheduled to recommence this work in February.

-In the meantime, we are progressing with the installation of site drainage, a new access road and building work to the 2 blocks where foundations are in place.



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