General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 463
  • Start Date: 2019-10-09
  • End Date: -
  • Target: 1.26m GBP
  • Completed: 100%

Additional Information

  • Dunstable Road
  • AL3 7PQ
  • St Albans
  • St Albans
  • Great Britain

This is phase 1 of an estimated 5 phase raise where CrowdProperty has agreed a maximum total facility of £2,960,000 to develop a site in Redbourn Hertfordshire. The Agreement is structured to be a part serviced bridge, part rolled up development Finance Agreement. On this 1st raise Lenders will receive interest at a monthly rate equivalent to 8% per annum. The project is located on Dunstable Road in Redbourn, St. Albans, AL3 7PQ. The site is 1 mile south of the M1 (J8) and 3 miles east of Harpenden Station (providing regular train services into London approx 25 miles to the south). Luton Airport is around 5 miles to the south. The nearest major town is Hemel Hempstead approx 5 miles to the south. Redbourn has a population of circa 6,500 and provides some local facilities including a Co-op and a few small independent retailers. The neighbouring town of Harpenden provides further retail outlets including supermarkets, banks, coffee shops and petrol filling stations. The village has a number of schools including St Lukes Foundation, Redbourn Junior and Redbourn Primary and these feed into more popular schools in St Albans and Harpenden. Local attractions include a 2nd-century Roman Theatre, 2 churches and The Redbourn Recreation Centre and grounds. The site totals a 2 Acre (0.81 hectares) mostly vacant plot with a few dilapidated barns, two of which are listed. The site has detailed planning consent; Planning ref: 5/2018/1334 for the restoration and conversion of 2 of the existing barns to provide 1 x four-bedroom and 1 x three-bedroom dwellings, together with the construction of three new terraced houses comprising 1 x three-bedroom and 2 x four-bedroom dwellings with associated car parking and landscaping. The other barns and outbuildings will be demolished. The borrower will improve the existing single entrance into the development from Dunstable Road and this road will end in a cul-de-sac serving the development. The planning consent was approved on 4th August 2018. View the developer's brochure marketing here: http://bit.ly/CrowdPropertyRedbourn

Project offered by

CrowdProperty

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

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