Conversion of historic former chapel and library into 14 luxury apartments with under croft parking.  The building is centrally located in Frodsham in Cheshire.

GDV: £2,075,000

Coronavirus update: As of May 2020 work continues onsite with internal work also being carried. The car park has now been surfaced.  The latest images can be seen below.

Date work commenced on site: January 2018.

March 2020 – important note re the Coronavirus pandemic and its potential effect on reservations and sales:  Whilst our agents are still operational and responding to enquiries and sending out brochures, they have advised there has been a drop off in enquiries which is to be expected.  We do not expect to have any new reservations until the situation stabilises, and we may also lose some of the current reservations due to economic uncertainty.

Sales update:  As of 22nd May 2020 we have completed on the sale of 2 units. We have 3 reservations in progress.  There are also 2 interested parties who our agents are following up with.  9 units are left to sell.

360 video walk throughs have been done and are being used by agents to show the properties to potential purchasers, as at present we cannot easily show people around the apartments.

Sales agents continue to report steady interest. There has been a hold up with sales due to the issue of building certificates, with the involved party advising that this is due to high work volume.  We should have all of these by the end of w/c 2nd March 2020.

As of February 2020 all agents have been asked to refresh properties they are marketing and re-market to their dateabase.  This includes Rightmove listings so they appear new.

Click here to see a 2-bed flat listing on Rightmove.

Our sales agents held an open day on 8th Feb 2020 and another is scheduled for the first weekend in March 2020.

We relaunched the site end of November 2019 when all the utilities had been installed. November 2019 the site has been relaunched on Rightmove along with new strategy and terms agreed with a joint agency.

Site build schedule:

As of the start of January 2020, power is now connected and all meters installed. Final snags are ongoing and handover expected with all contractors off site by end of February 2020.

As of December 2019 the site is 36 weeks behind schedule, partially due to changes that had to be made to the original build specifications, and also due to issues with getting the utility connections sorted.  There are major backlogs with the local utility companies. Other delays are contractor related and will be recoverable.  The site is now complete.

Fund Raises/Investor return:
Phase/Fundraise 1 – 10-11% (all capital repaid as of 29/11/19)
Phase/Fundraise 2 – 9% (all capital repaid as of 16/12/19)
Phase/Fundraise 3 – 9% (all capital repaid as of 20/12/19)
Phase/Fundraise 4 – 9% (repayment of capital commenced 20/12/19)

Investors capital repaid: We started repaying investor capital in Fundraise 1 as of 11th November 2019 and will continue to do so as sales complete.  Please note that due to the Coronavirus we cannot currently currently complete on any sales as per government regulations with regards to house moves.

Site images as of 6th May 2020:

April 2020 update:

The carpark has now been resurfaced.

We are waiting on some outstanding completion certificates on some aparments and final exterior work to be completed.

The new management company is ready to take over the site once further sales have completed.

January/February 2020 images:

As of March 2020 we are waiting on the car park to be resurfaced.

February 2020 updates:

Snagging and final handover were underway with tarmac to the car park following.

November 2019 updates:

Joiners are going into the properties on Friday 22nd November 2019.

Meters are being installed w/c 18th November 2019 – when the utilites are fully operational (should be done by 22nd November), then the final snagging can be done.  Tarmac’ing outside is being carried out the same week.

October 2019 updates:

The apartments are being snagged 7th October.

Tarmac is going down mid-October.

We have been given a date of 28th October for the utilities to be connected finally which means we can make real headway with progressing sales.  As the road needs to be closed whilst this work is carried out, it has been difficult getting a date from the council.

September 2019 Update:

We are still waiting on a date for the utilities to be connected.

The units have been finished to a higher specification than originally envisaged, and therefore each unit needs to be individually priced so an estate agent will be walking around all units to do this by the end of September 2019.

August 2019 Update:

– Landscaping now complete

– Tarmac still to be completed (cannot be done until service connections are complete)

– Electric/Water still to be connected

– IQ to advise a date once received from the utility provider

– 2 Kitchens are to be installed

July 2019 Update:

-Another 2 weeks worth of work expected to be required on site.

– Most units now skimmed and tiling is well underway

– Awaiting kitchens for top floor units

– Power is not yet connected but is due imminently

– Drainage has now been connected

– Tarmac is due to be completed over this week however this is dependent on stats

– Carpets are currently being fitted.

June 2019 Update:

-All roofing works to the former library has completed and the building is watertight.

-All internal staircases have been installed to the relevant properties, in various stages of decoration. However, the communal staircase due to be installed over the next week.

-Units 5, 6, 7 and 11 are now complete subject to final snagging. The communal areas to these units are due to be completed over the next period.

-Units 1, 2 ,3 and 4 – fit out is currently ongoing with kitchens and sanitary ware installs progressing. These are due to be complete by 5th July.

-Units 9, 10, 12, 13 and 14 are all due to complete on the 19th July.

-Externally – new incoming electric is due to be installed this week to enable the tarmacing works to the carpark.

May 2019 Update:

-Full steam ahead. With all the good weather work has been progressing exceptionally well, and we’ve been able to make up for some of the previous delays
that have been reported.

-At this stage, construction is expected to be completed within the next few months

April 2019 Update:

Build Phase 1: Incorporates all plots with their own external access on the Lower Ground Floor

– Most of the stud walls have been erected. Single side plasterboard and MF ceilings have been installed.

– Mechanical and electrical works are underway across all plots. This will enable all walls to be second side boarded and the skimming of the surfaces to begin.

Build Phase 2: Incorporates all plots accessed via the main building entrance facing Main Street.

– The house to be available for viewings (plot 6) has been fitted-out.

Build Phase 3: Incorporates all plots accessed via the communal staircase
-Stud walls have been erected throughout the properties, enabling 1st fix M&E to progress

March 2019 Update:

All the roofing work to Frodsham Library has been complete and the building is now watertight.

Build Phase 1:  Incorporates all plots with their own external access on the lower ground floor.

–  Internal partitioning has been erected to support the main structure.

– Suspended ceilings have been installed.

-Plaster boarding to the internal walls has also been installed.

-The contractors have also commenced with mechanical and electrical work.

Build Phase 2: Incorporates all plots accessed via the main building entrance facing Main Street

-Once the second fix mechanical and electrical and tiling work are completed, we can commence with decoration.

– Plots 6 has been fitted out in anticipation for viewings

Building Phase 3: Incorporates all plots accessed via the communal staircase to the site, including the extension.

-The base level of the extension has seen progress. The floor still requires screening prior to any further work begins, however.

-Stud walls have been erected and then single side boarded  at the upper level

February 2019 Build Update:

This month we have split the project into 3 phases to make it clearer to explain how the work is progressing.  Please note the build phases bear no relationship of fund raising phases.

Build Phase 1: Comprising plots that have external access to the lower ground floor.

–  First fix timbers (erecting the stud partition walls) have been completed.

– First fix mechanical and electrical works (pipework and wiring) are currently being installed on the apartments.

– Our plastering contractor has commenced with plasterboarding, the stud partitions and completed the ceilings.

Build Phase 2: Comprising all plots accessed via the main building entrance

– The show-house (plot 6) is now complete and is currently being well received prospective buyers- as you can imagine when looking at the photos below!

-The remaining plots in this phase are currently having tiling work and second fix mechanical and electrical (such as light fittings, fixtures, etc.)  which should take 2-3 weeks to complete prior to snagging commencing.

Build Phase 3: Comprising all plots accessed via the communal staircase.

-First fix timbers (erecting the stud partition walls) have been completed and plasterboarding to walls has commenced.

January 2019 Build Update:

-The extension to the former library has been erected and made watertight. All roofing works have been completed and work is progressing to phase 2 (Upper Ground Floor of the existing library space).

-The formation of internal walls has commenced to phase 1 (Lower Ground Floor) and plumbing and electrical work has commenced in the existing library space.

-Plot 6 has been fitted out and is available for prospective buyers to view.


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