This is a single phase raise where CrowdProperty has agreed a total facility of £210,000 to develop a plot in Hastings, East Sussex. The Agreement is structured as a straightforward Development loan. On this loan the Lenders will receive interest at the end of the loan term at a rate equivalent of 8% per annum. The loan term is 12 months. The project is located on Hillside Road in Hastings, East Sussex, TN34 2QY. Hastings is a coastal town approx 15 miles North-East of Eastbourne and 55 miles south of London. It has a population of circa 93,000. The plot is located 1 mile north of the town centre, and 3 miles North of Hastings train station, which provides a circa 1 hour 15 min train journey to London. Road connections to the north are via the A21 and East/West via the A259/269. There are several primary and senior schools within 5 miles. The site area is 263m2 (0.065 Acres). The site is currently under construction, having been set up and works commenced. Planning permission has been granted for the Erection of new 3 bedroom detached dwelling with two parking spaces, on the former garden at 229 Hillside Road, with vehicular access to the rear. Once the construction is completed the property will provide a single detached house with a GDV of £350,000 The plot is already owned by the borrower and the planning consent was approved on the 28th March, 2019 by Hastings Borough planning reference: HS/FA/18/00710

PreviousNext