The project involves the development of 5 new build properties. This is Phase 2 of a 4 Phase raise where CrowdProperty is seeking £280,000 for a term of circa. 17 months with lenders receiving interest at 8% per annum equivalent rolled up and paid at the end of the loan term. The total loan agreed was £1,225,000 and this commenced 11/02/2020 expiring 10/08/2021. The borrower is now onsite and has undertaken the following works: The welfare and site set up to include fencing on site and welfare cabin The removal of 160 apple tree stumps The commencement of the digging for the foundations together with the concrete pouring on plot 1. The creation of the new access way to the site having removed a hedge and begun clearing the soil prior to the delivery of the stone. o The borrower is looking to complete all digging and pouring of foundations of the 5 plots by 28th February The site will look to be prepped and ready for the stonemasons to arrive on Monday 2nd March The project is currently ahead of the build programme with the anticipated completion date of works set for Q1 2021. The site is situated in Stembridge just 3.2 miles from Martock and just 2.8 miles from South Petherton which provides schools, sports clubs, a community hospital and a Co – Operative store. Stembridge is a community of circa. 500 residents and provides a school and public house. The site comprises former Orchard land with frontage to New Cross Hill and lies in the north of the village. Planning permission was granted by South Somerset District Council planning reference: 18/01927/FUL. Permission granted for the erection of 5 x 2 storey houses including 3 detached and a pair semis.
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