Información General

  • TIR%: 8
  • CoC%: 8
  • Mínimo: 0 GBP
  • Tipo de financiación: -
  • Tipo de bien: -
  • Inversores: 272
  • Fecha de Inicio: 2019-12-07
  • Fecha de Fin: -
  • Objetivo: 460k GBP
  • Completado: 100%

Información Adicional

  • Priory Farm Barns
  • CV8 3FX
  • Warwickshire
  • Warwickshire
  • Reino Unido

This project is phase 2 of a 2 phase raise where CrowdProperty agreed a Development loan facility of £860,000 with Phase 2 being £460,000. The Loan commenced on 29th March 2019 for a term of 18 months with phase 2 length being around 9 months. Lenders will receive 8% per annum equivalent rolled up and paid at the end of the project. The site is located in semi-rural surroundings to the northern edge of the village of Wolston, Warwickshire. The surrounding area comprises a mix of residential and farmland. Coventry is approx. 7 miles to the north west and Rugby is 6.5 miles to the east. The site comprises a number of dilapidated brick constructed grade 2 listed farm buildings situated on a parcel of land totalling 0.64 acres. There is an additional area of pastureland totalling 6.6 acres which formed part of an old Priory, a moated earthworks site now designated a Scheduled Ancient Monument by English Heritage. Wolston sits in the Rugby Borough of Warwickshire and has a population of about 2,300 – 2011 census. Road connections to Coventry and Rugby are via the A45 and Fosse Way. The mainline railway connecting Coventry to Rugby runs just to the north across a viaduct constructed in 1830s. The village contains a primary school, small collection of shops, community centre and The Red Lion pub. The River Avon meanders through the village. Planning consent for the farm buildings was granted for conversion to 3 residential units under planning ref. nos. R15/0862; R17/1831 and R18/0546. Since purchasing the development, the borrower has improved the planning by securing consent under ref. no. R19/0216 to convert the barns into 5 dwellings. A further application is pending under ref. R19/1262 to add extensions to barns 2 and 3, a garage to barn 3 and a single storey extension to barn 1 - a decision is imminent. Planning consent R19/0216 has superseded the previous 3 separate planning consents ref: (R15/0862; R17/1831 and R18/0546) which only allowed for the conversion of the buildings into 3 separate self contained dwellings. The total site area is 0.64 acres + additional pastureland with the barns now providing the following accommodation: Unit 1 – single storey dwelling with entrance hall, kitchen/dining room, lounge, master bedroom with ensuite, 2 further bedrooms and communal bathroom. Total area 82m2 Unit 2a – 2 storey dwelling with entrance hall, kitchen, WC, Utility room, store and lounge at G/F level. Master bedroom with ensuite bathroom and 2 further bedrooms and communal bathroom. Total area 126m2 Unit 2b – 2 storey dwelling with entrance hall, kitchen, WC, Utility room, store and lounge at G/F level. Master bedroom with ensuite bathroom and 2 further bedrooms and communal bathroom. Total area 126m2 Unit 2c – 2 storey dwelling with entrance hall, kitchen, WC, Utility room, store and lounge and Master bedroom with ensuite bathroom at G/F level. Two further bedrooms and communal bathroom upstairs. Total area 130m2  Unit 3 – 2 storey dwelling with entrance hall, kitchen, WC, dining/living room, utility room, study and Master bedroom with ensuite bathroom at G/F level. Two further bedrooms and a further Master bedroom with en suites and dressing room and a family bathroom all leading off a galleried landing at 1st floor. A further large bedroom over the large double garage.  Total Area 175m2 The Independent Monitoring Surveyor inspected the works at the end of November 2019 and has reported the following: The borrower has been on site 24 weeks and the Works have focused on Barns 3 and 2(1) and are on target to be completed end of Q1 2020. Barn 3 is most advanced with New roof complete, externals 80%, internals 60% complete. Underfloor heating is being fitted this week, windows arrive next week and the main Oak stairway will arrive w/c 16th Dec to be fitted over Christmas. Barn 2(1) – terrace – has commenced with 40% deconstruction and 20% roof completed. The site Gas utility connection is underway and the water and electricity is booked. The Sewerage pumping station for the site arrives this week and will be installed before Christmas.  Barn 3 is expected to be on the market by the end of February followed by Barn 2(1) at the end of March Barns 1, 2(2) and 2(3) are expected to be completed Q4 2020

Proyecto ofrecido por

CrowdProperty

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

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