HCD3 The Woodlands, Bolton upon Dearne, South Yorkshire
New build development of 28 detached and semi-detached houses.
Sales update: As of mid-January 2021, the plot that recently resold is progressing steadily through the conveyancing which should hopefully conclude by March 2021. The purchaser of the other plot is however having issues getting a mortgage, so we are continuing to market the unit in case they are unable to progress. All units are now sold.
There have been delays in the legal process caused by Covid and the lockdowns the country has been subject to since March 2020. The stamp duty holiday has also led to an increase in sales causing backlogs with conveyancing and local searches.
As of October 2020 we are still working to discharge the enforcement notice regarding the trees which has held up completion on some sales – it was a condition of the original planning permission being granted that more trees be planted. A representative of the council has now attended and has indicated they would like to see more trees planted, but they are not responding to email requests from us as to how many more trees they want and where. The council has indicated that they are taking about 6 weeks to respond to any emails. As of late October 2020 we are still trying to get a council representative out to revisit the site after further works have been carried out to see if the enforcement notice can now be discharged. The new national lockdown will no doubt mean that no one can attend at present.
Note that all units are sold but due to the amount of time it is currently taking to progress reservations, reserved units are still up for sale on Rightmove in case any of the reservations fall through.
Investor capital repaid to date:
Fund Raise/Phase 1 – 10-12% (all phase 1 capital repaid as of 20th May 2019).
Fund Raise/Phase 2 – 10% (29th May 2019 we commenced paying out phase 2 investors their capital and are continuing as sales complete. The majority of investors have now been repaid their capital).
We are continuing to repay capital as sales complete.
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. At the moment we are working hard to progress sales, and do not yet have a timeframe for the payment of interest.
Until all units are sold, we cannot provide information on interest payments including amounts to be paid as final sales prices are needed to compile this information.
Work on site: work commenced June 2016 and was completed July 2019.
Build updates (site now complete):
July 2019 Update
– Snagging still ongoing
– All housing is build complete, and we are waiting on new home warranties for all remaining properties that we don’t have the warranties for.
June 2019 Update:
– Snagging is ongoing
– Full handover to sales team anticipated in 2 weeks’ time
May 2019 Build Update:
-Construction almost complete. Awaiting certificates and warranties for houses that have sold.
-No outstanding problems to report
April 2019 Build Update:
– all houses are now structurally complete
– the builders are attending to some landscaping and top tarmac to roads is due to be laid by mid-April 2019
March 2019 Build Update:
– As a whole the site is being managed well and progress is continuing to steam ahead
– We are scheduled to finish on site mid-April 2019
– Currently negotiating the implementation of turf on the site
– 5 houses remain to be carpeted
– Work on programming the gate has begun
February 2019 Build Update:
– 13 homes completed and doors locked. A number still waiting on kitchens but are otherwise complete.
– The wall at the front entrance to the build is now complete. The gate is now installed.
– Street lighting has now been installed.
– Formation of gardens is ongoing
January 2019 Build Update:
-The show house is now completed.
-The majority of plots are nearing completion. 10 of the plots are awaiting kitchens and bathrooms.
-The front entrance wall/gate is under construction.
-Road and driveways complete.
-Formation of gardens ongoing.
Most Recent Development Image: