New build development of 12 semi-detached houses on the site of a former farm in Crewe.

GDV: £2,406,250

Work commenced on site: December 2018 (pre-build work preparing the site with work proper commencing March 2019)

Status: Under construction (as of March 2019)

Fund Raises and Investor Return:

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

Investors capital repaid:  none to date – too early in the build process.

Marketing updates:

Signage is now up, brochures are printed and with the sales agents, and the first 3 properties went up on Rightmove at the end of July 2019.

Click here to see the Rightmove listing.

July 2019 updates:

Since the last report, our contractors have completed the following works

– Plots 1-10 substructure now complete and ground slab also done, respective garage slabs also complete.

– Plots 11-12 currently used for site storage

– Drainage installed to plots 1-4 with 5-10 ongoing

– Scaffold matt is down on plots 1-4

– Brickwork has commenced to plots 1-4 – new access road works commenced

– Site entrance has been relocated

June 2019 general update: 

Contractors have commenced on site and completed the following works:

– Excavation and concrete pour

– Block and beam to all but one block has commenced

– Brickwork build ups to allow screeding is ongoing

Works over the next period:

– Completion of excavation and concrete pour to all plots

– Sub-structure works to commence to the garage blocks – Spoil heap to be removed from site

– Commencement of drainage works

– Commencement of clearance to the easement area of the site

– New roads within site to start being formed following the temp supply for the site being moved

May 2019 general update:

– Everything is currently running on schedule

– The site is now set up, demolition has been done and so has the site strip

– We hope to implement a property for viewings by the end of September

– Easement is due to complete on the 9th May

April 2019 general update: 

– House demolished and drainage work is now underway

-Easement in place

March 2019 general update:

Electrical disconnection of the farmhouse completed, meaning that property could be demolished

-Procurement is now underway

-We are now looking at ways in which we can make up for lost time (due to the re homing of the newt)

-Marketing materials are nearly ready for distribution

-There has been a great deal of interest in the development locally with regards to sales.

February 2019 general update: 

The purchase of the site took longer than expected due to a required newt survey and the presence of a newt who needed to be rehomed(!) and the need for a drainage ‘easement’ (licence to cross their land) from the local council.  This delayed the site purchase by several months as it was originally anticipated to be May 2018.  Our contractors are aiming to claw back as much time as possible through the build and we apologise to investors for the delays.

-However, the purchase completed December 2018 and we started on site in December 2018 with demolition works.

-Terms have been agreed with a contractor who has taken possession of the site, and our first progress meeting is scheduled for mid-February 2019.

-Estate agents have just been appointed and we already have one client that wishes to reserve a plot.

-As of early 2019 we are also working on marketing material, so that we can effectively market the development in the near future.