Conversion of large, historic residence and coach house into five luxury apartments and one semi-detached house, plus sale of a section of the garden as an additional plot (with existing planning consent).

The sale of the plot completed by the end of November 2019 – this sale has been used to help fund build costs in order to reduce the number of fundraises.

GDV: £4,501,000

Coronavirus update: As of March 2020 we have a reduced team of contractors on site. Because of the situation with the Coronavirus, we are closely monitoring government guidelines and may have to clear the site at any time.  Our QS is providing us with regular updates. We thank investors for their patience during this difficult time.

Situation as of 31/3/2020: Works are progressing apace although our QS is trying to establish whether the Precast Concrete Floor manufacturers are still working.  If they are not, this could halt progress in a few weeks we are checking currently.

As of 25/3/2020 our QS has advised that a reduced team is working externally with minimal internal work being carried out.  Materials are still currently available.

Further down the page you will find recent site images as of early March 2020.

Site build schedule: 

As of March 2020 our contractors are still on site but due to the Coronavirus we are closely monitoring government guidelines, and may have to clear the site down at any time.

It is currently anticipated that contractors will be off site by November 2020.  As of February 2020 the site is approximately 6 weeks behind schedule, partially down to the January/February storms and the basement flooding issue.  Our agents are closely monitoring the site, and the contractors are putting additional resource to work.

December 2019 hoardings were being erected.  Basement works are currently causing delays due to design changes required after the discovery of severe water ingress.  Wet weather November 2019 also slowed down ground works progress.

Pre-commencement work underway as of January 2019.  Pre-strip out work for the site commenced March 2019 with site work proper commencing July 2019.

Due to some initial delays to this project caused by some issues with the original architects plans which we have had to have reworked to allow for more light and ceiling light in the top floor annex and also improved to make the properties more attractive to potential purchasers the commencement of work on the site was delayed by several months.  A further delay of 6 weeks has been caused due to delays caused by planners at the local council.  Our contractors will try to claw back as much time as possible throughout the build.

In the original investment proposal (Oct. 18) we stated that we expected to sell the coach house and the plot within 6-12 months. We also stated circa 9 months for the conversion of the main house into 5 apartments.

In fundraise 2 (Feb. 19) we stated that the above plan had changed and that now the coach house was to be demolished and rebuilt as a luxury 3 bedroom 1935 sq.ft house – as it is more in keeping with the main development and an overall improvement to the quality of the scheme and the GDV.  The coach house has now been demolished.

The latest site images are at the bottom of this page.

Fund Raises/Investor Returns:

Phase/Fund Raise 1: 10-10.5%
Phase/Fund Raise 2: 10%

Investor capital repaid:   It is too early in the build process for any capital to have been returned to investors.  The repayment of capital is dependent on sales completing.

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.

March 2020 Update:

Bricking progressing to next lift ready for PCC flooring.

Click here to view further images as of early March 2020.

The top 2 photos were taken 31/3/2020.

January 2020 Update:

Internal alterations to remaining structure are still underway.

Basement tanking details have been resolved and are progressing on site.

December 2019 Update:

Footings and underpinnings are now complete.

Brick patching mostly complete to external walls of remaining structure.

Internal structural wall aterations to remaining structure complete.

Foundation brickwork nearly complete.

Sacrificial steel in place supporting scaffold props for remaining structure.

Drainage surveys complete.

November 2019 Update:

Internal alterations are being made to remaining structure.  Basement works have caused delays due to design changes required upon discovery of severe water ingress.  Foundation brickwork is nearly complete.

Completed works: Footings and underpinnings are complete, as are drainage surveys.    Internal structural wall alterations to remaining structure are complete.

Work to be carried out over the next month includes ground floor block and beam/floor slab work, scaffolding to first lift brickwork and tanking to basement.

October 2019 Update:

– Demolition and grubbing up foundations works complete

– Temporary scaffolding erected to support remaining building

– Works in underpinning the existing structure are complete

– All other foundations are complete save only works to the basement level

– Foundation brickwork is underway

– Site strip works and cart away is almost complete

September 2019 Update:

We have arranged to sell the additional plot with the proceeds being used to fund the rest of the construction rather than raise more investment.  The exchange on this sale is now anticipated to be by the end of October 2019.

We have finally received the planning notice from the Cheshire East council and work on the site continues.

August 2019 General Update: 

–  The block/brickwork to the extension has now commenced

–  Works from previous update ongoing

July 2019 General Update:

Over the past month our contractors have completed the following works:

– Strip out of existing building

– Removal of Asbestos

– Site setup/welfare

– Excavation to the rear of the site for new extension

– Concrete has been poured for the foundations at the rear of the site

June 2019 General Update:

The contractors have completed the following works:

-Strip out of existing building

– Removal of Asbestos

– Site setup/welfare

-Excavation to the rear of the site for new extension

-Concrete has been poured for the foundations at the rear of the site

May 2019 General Update:

– Experiencing a slight delay due to an unmapped gas main that is running through the site

-We are working to resolve to the issue and make up any time lost

April 2019 General Update:

-Extension requires redesign due to discovery of an uncharted gas main.

-Cabins are now onsite

-Viewings ongoing with developers

March 2019 General Update:

–  Everything on track and progressing as planned

– Strip out has revealed that there are no structural issues with the property or the grounds

– The development has already received viewings from interested parties

February 2019 General Update:

-Revised plans have been substituted with the local authorities

-Final costs have been agreed with the main contractors

-Initial “strip out” works have been completed

-The main contract will commence mid March 2019

CGIs for the development are well underway as you can see further down the page

January 2019 General Update:

-Detailed review of plans and re design to improve the scheme has been completed and the revised plans have been submitted to the local authority by way of substitution.

-Soft strip of the original building has been completed

-CGI work (computer generated images for marketing) due to be completed imminently.

-Detailed costs have been agreed with our building contractor (IQ Projects) and the contract will be signed next week

-IQ Projects are scheduled to take possession of the site Monday 4th February 2019.