Información General

  • TIR%: 8
  • CoC%: 8
  • Mínimo: 500 GBP
  • Tipo de financiación: -
  • Tipo de bien: -
  • Inversores: 0
  • Fecha de Inicio: 2020-06-13
  • Fecha de Fin: -
  • Objetivo: 450k GBP
  • Completado: 0%

Información Adicional

  • Land at Hinton
  • TA17 8SL
  • Somerset
  • Somerset
  • Reino Unido

Due to product demand, and as a result of lender feedback, we have reintroduced a pledge limit for this project, on a trial basis. This is to give those that take valuable time to perform necessary due diligence the greatest opportunity to successfully pledge at 10 a.m. Pledges will be limited to £5000 for the first 5 minutes that the project is live. Post 10.05 a.m pledges greater than £5000 can be created, or an existing pledge for this project can be increased (subject to availability). This is phase 5 of a multi phase raise totalling £2,800,000 to provide construction costs for the development of 10 new residential units in Hinton St George Somerset. The loan was completed in Mid 2018 and an initial advance of £455,000 was submitted to the borrower to cover design fees and initial construction costs. Construction commenced on site in September 2019 and since then we have raised a further £455,000, £400,000 and £465,000 to provide monies towards the works - total raised to date = £1,775,000. This phase raise of £450,000 will cover estimated costs for the June and July 2020 scheduled works. This phase will be for a term of about 9 months ending 9th March 2021 paying 8% per annum equivalent with interest rolled up and paid at exit of the loan. Given there are 10 properties being built it is expected all lenders across all phases will have their capital and interest returned in tranches as properties are sold at different times. Hinton St George, Somerset, TA17 8SL is situated 4 miles North West of Crewkerne, 12 miles South West of Yeovil and 17 miles South East of Taunton. Crewkerne Railway Station is based on the West of England mainline approx. 5 miles from Hinton St George with trains to Exeter (50 mins) and London Waterloo (2.5 hours). Hinton St George is a popular and affluent South Somerset village with a population of circa 442 (2011 Census). The village includes a primary school, award winning pub and village store. The site is situated on the East side of the village and has been in the ownership of the same family for nearly 40 years. It is rectangular in shape with a level topography and totals approx. 1.02 acres. Access to the site is directly off Merriott Road, a public highway. There is a private farmer's right of way from Merriott Road through the site to access the rear field. Planning consent was granted ref. no. 17/02545/FUL on 19th April 2018 by South Somerset Council. A further application no. 18/01345/S73 was approved to vary internal layouts, window positions, the removal of car ports and minor external alterations. The total no. of new units to be erected will be 10 ranging from 2 – 5 bedroom houses. Three of the units will be set aside for Affordable Housing as required within the planning consent. Construction will be high quality traditional 2 storey development to include local “Ham” stone elevations under pitched and hipped roofs. The breakdown of the sizes of the houses are as follows:- Plots 1-3 3 x 2 bedroom house 959 sq ft each Plot 4 1 x 5 bedroom house 1,721 sq ft Plots 5-6 2 x 3 bedroom house 1,026 sq ft each Plot 7 1 x 3 bedroom house 1,018 sq ft Plot 8 1 x 4 bedroom house 1,231 sq ft Plot 9 1 x 4 bedroom house 1,246 sq ft Plot 10 1 x 5 bedroom house 1,711 sq ft Total floor area: 10,830 sq ft (1,006 sq m) Works commenced on 2nd September 2019 and the build programme is 13 months with Practical Completion expected in October 2020. The Pandemic has caused a 4 week slippage to this programme but the previously posted a 3 week delay (because of inclement weather) has been made up. They are continually reviewing the programme and moving work patterns around as they cope with delays in delivery of materials; the current delay is delivery of plaster, with some 300 bags expected on site this week after 4 week supplier delay because the factory was shut. The total build contract sum is estimated at £2,591,000 and the MS has continued his monthly inspections and reports the latest position as follows:- Works programme was agreed at 13 months with practical completion initially expected Oct 2020. Works commenced in Sept 2019. 4 weeks slippage of programme due to Pandemic but show home will be complete in August and PC of all works now Nov 2020 – programme being reviewed to claw back the lost time Total Build contract sum estimated at £2,591,000 with overspend of £6,000 reported which the borrower has settled separately IMS reports some materials e.g. plaster potential for further delays but all supplies being monitored Update on works completed since last raise include:- Plots 1 -3 1st fix carpentry, with plaster boarding and skimming 85% complete Plots 8-10 plaster boarding and skimming (unit 10) windows and patio doors, floor screeding and installation of stairs Plots 4-7 roof trusses and dormers complete with tiling commencing w/c 8th June Total spend as at latest IMS report is £1,439,493 and includes the above plus ordering of the Utility connections and 10 year warranties Utilities engaged – water connected, gas in the verge and electricity infrastructure completed Minor off site highway works legal documentation signed and technical review underway Drainage has been connected, requires linking to site drainage Building Control and 10 year warranty provider both inspected 1st week in June – no issues

Proyecto ofrecido por


Gane 8%p.a. en declaraciones aseguradas de primer cargo, libres de impuestos a través del CrowdProperty ISA.

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