General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 559
  • Start Date: 2020-05-23
  • End Date: -
  • Target: 400k GBP
  • Completed: 100%

Additional Information

  • Land at Maris Meadow, Dunstable Road
  • AL3 7PQ
  • St. Albans
  • St. Albans
  • Great Britain

This is phase 3 of an estimated 5 phase raises where CrowdProperty has agreed a maximum total facility of £2,960,000 to develop a site in Redbourn Hertfordshire. The Finance Agreement commenced on 30th October 2019 for a term of 18 months ending on 29th April 2021. The phase 1 release was £1,260,000 followed by a 2nd raise of £450,000. This raise is for £400,000 and lenders will receive interest at 8% per annum rolled up and paid at exit. 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; these feed into 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, previously housing a few dilapidated barns, two of which are listed. The site gained a 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 dwelling, 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 have been demolished. The borrower is set to 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 marketing brochure here: http://bit.ly/CrowdPropertyRedbourn The development will comprise the following: Larger Barn - 4-Bedroom - 2,322 sq ft and situated on the left hand side of the cul-de-sac as you enter the development Small Barn - 3-Bedroom - 960 sq ft and situated towards the rear right hand side of the development End of Terrace - 4-Bedroom - 2,057 sq ft Terraced - 3-Bedroom - 1,169 sq ft End of Terrace - 4-Bedroom - 2,057 sq ft The larger barn will be 2 storey. The G/F will provide entrance porch, reception room, dining room, utility room, bathroom, study and master bedroom with en suite. The 1st floor will provide a double bedroom with en-suite and 2 further bedrooms, both with en-suites. Externally the property will be approached via a driveway and provide landscaped gardens to the front and rear, and a detached garage. The smaller barn will consist of an open plan living room, dining room and kitchen. The 1st floor will provide 3 bedrooms and a family bathroom. Externally the property will be approached via a driveway and off road car parking for 2 vehicles. Landscaped gardens make up the front and rear of the property. The new builds will provide a terrace of 3 x 2 storey properties situated towards the rear of the site. The end of terrace on the left will consist of open plan living room, dining room, kitchen and study. The 1st floor will provide 4 bedrooms (1 with en-suite) and family bathroom. The mid terrace will consist of kitchen, living room, study and utility room. The 1st floor will consist of 3 bedrooms and family bathroom. The end of terrace on the right hand side will consist of entrance hall, open plan dining room/lounge, kitchen and study. The 1st floor will provide 4 bedrooms (1 en suite) and a family bathroom. All the new houses will be provided with rear gardens

Project offered by

CrowdProperty

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

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