General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 38
  • Start Date: 2018-12-01
  • End Date: -
  • Target: 325k GBP
  • Completed: 100%

Additional Information

  • 1 & 3 Little Hervells Court
  • NP16 5PT
  • Chepstow, Monmouthshire
  • Chepstow, Monmouthshire
  • Great Britain

The proposed project, 1 & 3, Little Hervells Court, Monmouth, Chepstow, NP16 5PT is located less than 20 miles to the north of Bristol. The site is situated in Chepstow, which is a town in Monmouthshire, situated in the south of Wales with a population of 12,350. The town benefits from good network links, with close proximity to the M48 via the A48 and it’s very own railway station. Access to M48 and Severn Bridge Crossing is approx. 3 miles from Little Hervells Court and Bristol City Centre being 30 minutes further to the south. Situated in Bristol is the Bristol Parkway railway station, which is a 1 hour 15 minute train journey to Paddington. This means the subject property is approx. 2 hours from central London via rail. The historic Chepstow castle is a short 5 minutes walk from the site, with the River Wye situated nearby. The property is located approximately 0.5 miles south east of Chepstow Community Hospital and is a short 10 minute walk from the High Street. The site originally comprised a grade 2 listed Georgian property with a large garden. The borrower has since secured planning for five properties on the site, known as No.’s 1, 2, 3, 4 and 5 Little Hervells Court. The borrower has completed the conversion for the existing barn (No. 4) and the construction of a new detached property (No. 2). These are excluded from the project. CrowdProperty will have a first charge over plots 1 and 3 only. Planning permission has been granted by Monmouthshire Council, planning reference: DC/2015/00931. The construction of the two new detached properties will form part of a small development: No. 1 Little Hervells Court will have a GIA of circa. 3,045 sq. ft. No. 3 Little Hervells Court will have a GIA of circa. 1,512 sq. ft. The location is very significantly underpinned as a niche development because of the gated and walled entrance and private feel to the scheme. No.s 2, 3 and 4 will enjoy a shared vehicular and pedestrian right of way. Works for No. 1 Little Hervells Court have already commenced: No. 1 has been cleared, trenches excavated and foundations/footings concreted ready for the erection of the slab to DPC levels. The entrance has been broken through and driveway to scalping finish all services i.e. gas, electric, water, BT, foul and storm are complete to the entrance of the property. All retaining and boundary walls have also been completed. Works have also already commenced for No. 3 Little Hervells Court: The site for No. 3 have been excavated and cleared footings completed slab complete to dpc level over-site complete and concreted Ready for Timber Frame erection. All services/utilities complete and capped off. Driveway complete to concrete finish ready for resin bond final coat golden pea. The garage has also been constructed. Shared entrance complete i.e. electric, gates and intercoms Boundary treatments complete 100%. Estimated build costs for the project are £750,000, with the borrower having already completed £125,000 of these works. With the inclusion of sunken costs, costs of finance, professional fees and contingencies, total costs are estimated at £1,100,000 giving an estimated out turn profit of £350,000. The current market value for No.s 1 and 3 are £290,000 and £170,000 respectively. With the GDV for No. 1 being £850,000 and the GDV for No. 3 being £600,000. CrowdProperty has agreed to lend the borrower £625,000 across a 2 phase raise for a maximum of 18 months. The 1st phase raise will be £325,000 which will provide monies to continue the construction works with the phase 2 raise estimated in Q2 2019. The borrower will receive a day 1 advance of £250,000 representing a loan to value of 54.3%. The expected loan to value at exit will be 49.1% - which will include rolled up interest. The 18 month term loan is a max term and the borrower can pay back the whole or part anytime between 6 and 18 months. Targeted loan commencement date for this project is 21/12/2018

Project offered by


Earn 8%p.a. first-charge secured returns, tax-free through the CrowdProperty ISA.

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