Property Development Webinar – Manchester Road HCD21
On Tuesday 18th September we hosted a live webinar to introduce investors to our latest new property development – Manchester Road (HCD21).
Frazer was joined by our Director of Developments, Justin Molloy and Tim Conniff, who is working with us on this development.
Thanks to all of you who attended and for posting your questions. We have published answers below, including a few we didn’t get a chance to answer on the night.
You can watch a recording of the webinar by clicking here (presentation is hosted on our YouTube page).
Questions and answers
Q: If the circumstances called for it. Could you get your money out earlier? No plans but what if?
A: We repay investors in the following order as a matter of policy. 1. All investor capital will be returned first, then 2. Investor interest will be repaid separately. We do this to be fair to all investors and not to potentially expose some to more risk than others. If you think you will need the funds you plan to invest earlier than the end of the term, then please do not invest. Also, we cannot guarantee that funds will be repaid at the end of the advertised term. It could be earlier or later depending on the sale of the properties.
Q: You state that all the apartments are very large but the house is only 5500 square foot. That doesn’t make for large apartments in my mind. How do you explain that?
A: The planning permission we expect to receive imminently will allow us to extend the house to 9,140 sq. feet. The five apartment sizes would be as follows:
1. 1,668 sq. ft (155 m2)
2. 2,303 sq. ft (214 m2)
3. 1,722 sq. ft (160 m2)
4. 1,668 sq. ft (155 m2)
5. 1,841 sq. ft (171 m2)
Q: Are you happy with the rate of investment?
A: At the time of writing, the development has been advertised on our website for a couple of weeks and we’ve raised close to £400K. During this time we have also funded another development (Fox Owl Rise) and we are aware that some investors are holding off from investing until nearer to the 3rd October, when interest calculations start. In this context we’re happy with the rate of investment to date. As that date approached we expect the investment to fill up quickly.
Q: I’ve not invested with The House Crowd yet. Can you provide more information on how your property developments work?
A: Here’s a link to a blog I wrote at the end of 2017 which helps explain more about our property development loans. If you have any questions you can always contact our member support who will
be happy to help – our office hours are 9-6 Monday-Friday.
Q: Would it be possible to notify investors when the units are available for sale or is there an option to buy off plan. Either way, investors should be given the first option?
A: We’d be happy to provide you further details if you’re interested in buying off-plan. You will be able to register your interest on www.housecrowd-developments.com when the site is uploaded.
Q: I missed the majority of the webinar. Will you be sharing the pack and a link to a recording?
A: Yes, a recording of the webinar is available here for you to watch at a convenient time. The running time is about 30 minutes. (Note the link directs you to our YouTube page).
Q: I can’t see the full financials or survey for the project. How do I access those?
A: As a responsible FCA regulated business we’re unable to advertise full details of our investments to people who have not completed our registration process. Click here to complete your registration. It’ll only take a minute or two and you’ll be able to see the full product summary, plus you’ll receive a Free Investment Guide which explains all our products in more detail!