Información General

  • TIR%: 8
  • CoC%: 8
  • Mínimo: 0 GBP
  • Tipo de financiación: -
  • Tipo de bien: -
  • Inversores: 643
  • Fecha de Inicio: 2020-10-31
  • Fecha de Fin: -
  • Objetivo: 300k GBP
  • Completado: 100%

Información Adicional

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

This is phase 2 of a 2 phase raise where CrowdProperty agreed a loan facility for the sum of £1,350,000 which commenced on 20th August 2020. The initial raise was £1,050,000 with phase 2 being £350,000. Lenders will receive 8% interest rolled up and paid at exit, loan end date being 19th August 2021. 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. At the date of purchase of the site and commencement of the previous loan the property comprised a number of dilapidated brick constructed grade 2 listed farm buildings situated on a parcel of land totaling .64 acres. Adjacent there is also an additional area of pastureland totaling 6.6 acres which formed part of an old Priory, a moated earthworks site now designated a Scheduled Ancient Monument by English Heritage - all of which is included on the area CrowdProperty has a 1st charge security position. 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 – Rugby runs just to the north across a viaduct constructed in 1830s. The village contains a primary school, small collection of shops, a community centre and The Red Lion Pub. The River Avon meanders through the village. The original Planning consent for the farm buildings was granted for its conversion to 3 residential units under planning ref. nos. R15/0862; R17/1831 and R18/0546. Within a few weeks of purchase the borrower returned to Rugby Borough Council and obtained an improved planning consent to move from a 3 unit conversion scheme to a 5 unit conversion under planning ref no. R19/0216. He then commenced works on part of the development but returned to planning to secure a further consent under ref. R19/1262 to add extensions to barns 2 and 3, a garage to barn 3 and single storey extension to barn 1. This was granted in December 2019. The position now is that Planning consent R19/0216 supersedes 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, whilst planning consent R19/1262 allows for further "add-ons" thus creating improved values. The result of this is that the 5 barns will now provide the following layouts and floor areas- Unit 1 – single storey dwelling with entrance hall, kitchen/dining room, lounge, master bedroom with ensuite, 2 further bedrooms and communal bathroom. Total area 88.5m2 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 2nr further bedrooms and communal bathroom. Total area 147.5m2 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 2nr further bedrooms and communal bathroom. Total area 135.2m2 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 135.2m2 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 213.3m2 Total site area: 0.64 acres + additional pastureland During this period the borrower has undertaken some of the conversion works and our IMS has made a number of inspections ahead of us releasing development funds. His last site visit was on Oct 20th 2020 and he reported as follows:-

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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