General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 358
  • Start Date: 2020-02-19
  • End Date: -
  • Target: 250k GBP
  • Completed: 100%

Additional Information

  • Kendal Road
  • M32 0DZ
  • Manchester
  • Manchester
  • Great Britain

This is the phase 2 raise of an estimated 4 phases in which CrowdProperty has agreed a total facility of £835,000 to develop a site in Stretford, Manchester. CrowdProperty has agreed a Development Finance Agreement with lenders receiving interest at a rate equivalent to 8% per annum rolled up and paid at the end of the 18 month loan term. The 1st phase raise was £133,000 which was used towards the purchase of the site. The site is situated off Kendal Road, Stretford, Manchester, M32 0DZ and backs onto Trafford Park Railway Station which has frequent train services into the Manchester Piccadilly Terminal (approx 25 mins). The City Centre is approx 4 miles to the North East by road. Stretford has a population of circa 47,000. Access to the motorway network is via M60 (J9), approx 3 miles to the East. The town offers a number of amenities including various schools, supermarkets and the INTU shopping centre all within 5 miles of the site. The development totals 0.4 acres of vacant land with frontage to Station Road and backing onto Trafford Park Railway Station, and comprises a narrow strip of vacant scrub land in an otherwise residential location. Planning permission was been granted by Trafford Council under Appeal reference: APP/Q4245/W/17/3179935 for the construction of 10 residential apartments in 5 detached 2 storey blocks. Pre-commencement conditions have now been discharged in order for the borrower to commence works. Since, the land has been stripped and prepped for construction. The new development will offer 7,260sq ft of new build apartments facing Station Road and once the development is complete it will comprise the following floor areas:

Project offered by

CrowdProperty

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

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