HCD23 The Downs, Altrincham, Cheshire
New build development of 34 luxury apartments and four townhouses and conversion of former pub into one apartment and one commercial unit in Altrincham, Cheshire. This is estimated to be a 54 week build from start of construction, so the site is estimated to be completed August 2020.
Status: Crowdfunding ongoing and we completed on the first part of the site purchase 30th January 2019. Pre-construction work is currently taking place as of June 2019. Fundraise 3 launched June 2019 to fund the 2nd part of the site purchase and the next phase of the build process.
Fundraises and Interest Paid to Investors:
Phase/Fundraise 1: 10-12%
Phase/Fundraise 2: 10-12%
Fundraise 3: 10%
July 2019 Updates:
– Our contractors are now due to start on the site 19th August.
– Full planning has now been agreed and our contractors will be taking possession of the site by the end of July 2019.
– Calderpeel, the architects, are completing the detailed design work
– Hoarding designs are current in the process of being created
June 2019 General Update:
– Contractors have been appointed under a letter of intent, enabling them to progress the design and make a start on the site
– Work is due to commence on site at the end of July
May 2019 General Update:
– We are now currently in the last few weeks of exchanging information with the city council.
– Due to start work on site soon.
– We are planning to implement hoardings across the site
April 2019 General Update:
– Everything is continuing to progress as planned.
– Estimated completion date is as originally forecast.
March 2019 General Update:
– Sheet piling has now been complete. This will help to retain the structure and keep the ground in place in anticipation of any future groundwork that will take place
-Planning conditions have now been agreed
February 2019 General Update:
– We have exchanged and completed on Phase I and exchanged on Phase II of the purchase process.
-Negotiations are ongoing with the local authority to agree details of the Section 106 agreement and Community Infrastructure Levy in respect of Phase II of the site.
-The initial contract for enabling works (sheet piling of the boundary) is due to commence mid-march for a period of 6 weeks
– Work has started developing a brand identity for the project. This will be followed by point of sale material for a sales launch in May 2019.
January 2019 General Update:
-Complex legal work has delayed exchange and completion, however the final document has been received and we are pleased to confirm that we exchanged contracts on the whole site and completed on phase 1 of the purchase Wednesday 30th January 2019.
-Even though building works have not yet started, we are receiving a number of sales enquiries from people wishing to reserve off-plan.