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.

New site images were added 7th July 2020 and are further down the page.

GDV: £4,501,000

As of July 2020 work onsite is continuing.

All the way up! Drone footage June 2020.

Click here to view drone footage of the site as of February 2020

The site build schedule is lower down the page.

Site update 19/6/2020:

  • Behind the leafy Manchester Road street façade our project continues to grow.
  • The existing building is being extended and all substructure works are completed.
  • The external brickwork and blockwork are at first floor level and the lift shaft core is now extending to the second floor level.
  • The concrete hollow core floors are in manufacture and will be installed within the next two weeks.
  • In tandem with the works to the extension works to the existing building remodelling are underway.
  • The spacious features of a bygone era are totally respected and offer tremendous living spaces in the new development. New flooring, partition walls and ceilings are now underway bringing the build and insulation quality of the existing structure fully in line with current requirements.
  • The existing clay tile roof (or should we say the dreadful recovered roof) has been removed and works are underway to replace it with a tiled roof in line with the original roof to bring the building back to its former glory.
  • The newly form basement storage area has warrantied tanking works complete and provides valuable space for the apartments.
  • The construction team are keen to complete the extension brickwork within the next four weeks to allow the roofing works to the extension to commence and for the main shell build phase to be concluded.
  • The building currently has a full scaffold to all elevations to provide access to the various trades during this construction period.
  • The removal of the scaffolding will allow the external hardscape, drainage and landscape works to commence.

Site build schedule: 

As of mid May 2020 our contractors are still on site with Government guidelines for social distancing and other requirements being followed.  The anticipated completion date of the site will need to be revised due to the issues with the materials supply chain but as of mid-May there is still uncertainty with regards to how much the completion date has been affected. We should have a better idea by early June 2020.  The site has been operating at 10% productivity since the lockdown commenced, and at present can only produce at best 70% capacity compared to the days before the Pandemic.

Due to the initial issues with planning permission which added 4 months to the build process plus bad weather the site is as of April 2020 approximately 5 months behind schedule.    Works are still anticipated to be completed by November 2020.

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 (aside from the 4 months due to the planning permission issue), partially down to the January/February 2020 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%
Fundraise 3: 10-11%
Fundraise 4: 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.

Images added 7/7/20:

Site images as of 4/7/2020:

Site images as of 16/6/2020:

 

Site images as of 8/6/2020:

Mid May 2020 Build Update:

Building merchants are starting to open up again but materials are in high demand and are hard to acquire.  Other supply chain items (e.g. staircase, windows etc.) are also hard to acquire.  For the last few months the site has operated at 10% of capacity due to these issues, and we are looking to ramp up operations significantly over the rest of May.  The improved weather has dried out the site.

Brickwork:  despite the unavailability of the concrete first floor slab, we have carried on with the brickwork concentrating mainly on the coach house areea and works will be up to wall plate by 15th May.

Existing building work: Insulation to the first floor joists is underway.

The existing gate and posts have been removed to enable access to the site to accommodate the revised layout for the adjoining new build house.  Temporary site access gates are now in place.

Joists and flooring the the coach house are now complete.

Scaffolding lifts are following the bricklayers requirements.

11/5/2020 site images:

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.