General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 481
  • Start Date: 2020-01-17
  • End Date: -
  • Target: 600k GBP
  • Completed: 100%

Additional Information

  • Land at Spinks Lane
  • NR18 0SR
  • Norfolk
  • Norfolk
  • Great Britain

This is phase 1 of an estimated 4 phase raise where CrowdProperty has agreed a Development Finance Facility totalling £2,000,000 to develop a site in Wymondham, near Norwich, Norfolk. The Agreement is structured as a rolled up Development Finance Agreement and the 1st raise will be £600,000. Lenders will receive interest at a rate equivalent to 8% per annum which will be rolled up and repaid at at exit of the loan. The loan term is 15 months. The site is situated on Spinks Lane, Wymondham, NR18 0SR, 10 miles South West of Norwich. Wymondham, a town in South Norfolk, has a population of circa 20,000. The site is linked to the road network via A11; Wymondham to Cambridge is 55-mile to the South West. Wymondham Railway Station is 2 miles North-East with direct connections to London Kings Cross, and a regular service into Norwich (circa 15 minute train journey). The Norwich International Airport is 9.1 miles South-West via the A11. The town offers the usual facilities including various Schools, Supermarkets, Shops and Public Houses. The existing plot totals 2.30 acres of former agricultural land and benefits from Planning Permission granted by South Norfolk Council, references; 2015/1836 and 2018/0583 for the erection of 5 no. new detached dwellings and garages, together with highway improvements to Spinks Lane. The completed development will total 12,270 sq ft of new build with house sizes between 1,485 and 2,938 sq. ft. The 5 new dwellings will help address the Wymondham Area Action Plan, which currently has some 1,869 new build units approved out of the required 2,200 new allocated in the South Norfolk Council's Local Development Plan.,

Project offered by

CrowdProperty

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

Would you like to add this platform to your list?

Please Log In first

Don't have an account yet?

Sign up & enjoy all the services BrickFunding provides
Register