New build development of 14 semi-detached and mews houses.

GDV: £3,000,000

Work on site commenced: November 2017

Status: Completed – sales now progressing.

Fund Raises/Investor returns:
Phase/Fund Raise 1- 10% (all capital repaid)
Phase/Fund Raise 2- 10% (all capital repaid)
Phase/Fund Raise 3- 8.5% (all capital repaid)
Phase/Fund Raise 4- 8.5% (as of April 2019 we are repaying phase 4 investors their capital as sales complete)

Investors capital repaid: As of 22/2/19, all phase 1,2 and 3 investors have had their capital repaid and we have commenced repaying capital to phase 4 investors.  A tranche was repaid 1st May 2019 and another 3rd May 2019 at which stage we had repaid 60.66% of capital in phase 4.  Another tranche was repaid w/c 27th May 2019.  A further tranche was repaid 6th June 2019 so there are now only a few investors who have not yet received their capital back.  Investors will be emailed when it is their turn to have their capital repaid.

Please note there is no set date for the payment of interest as it is dependent on all units on the development being sold and all investor capital having been repaid.  Interest can only be paid out of profit, and a development is not in profit until all capital has been repaid.

Sales updates:

As of the mid-August 2019, 9 plots have completed on the sale, and 2 plots are in the final stages of reservation with exchange imminent. There are 14 plots in total so 3 are left to sell.  We also have a purchaser for the old house on the site which is due to exchange imminently – this is still ongoing with exchange and completion now due by mid-August 2019 as some work still needs to be carried out on the site which we’ve agreed to do as part of the sales contract, and the purchasers solicitor went on holiday which has also led to delays. We’ve had continued viewings and interest in the units on this site and as of July 2019 are looking to do a new sales push and open house to progress the sale of the remaining units.

Work on the site has now completed as of April 2019 so we are now working to progress sales.

April Build Update:

-As previously, we are now in the process of  conducting the final checks across the site over a 12 month period

March 2019 Build Update: 

-No major works are now outstanding on the site and BT have now completed the connections to all the properties.

-Practical completion certificate for the development was issued at the back end of February so that people can now move into the houses

-This practical completion however was subject to rectifying any outstanding snagging issues

-A snagging tracker has been setup to monitor the progress of the works

February 2019 Build Update:

– Snagging and a final inspection of the houses is underway and we envisage that the lucky new homeowners will be moving in to their stunning new homes shortly. You can read about this in Frazer’s recent blog.

January 2019 Build Update: 

The development is essentially complete and we’re presently completing quality checks prior to occupation.

Most Recent Development Images: