General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 244
  • Start Date: 2019-04-12
  • End Date: -
  • Target: 196k GBP
  • Completed: 100%

Additional Information

  • Station Road
  • BN26 6EB
  • Polegate Nr. Eastbourne
  • Polegate Nr. Eastbourne
  • Great Britain

The borrower has agreed a purchase price of £280,000 with completion set for 25th April 2019. During the loan, the borrower will seek to obtain full planning permission for Serviced Accommodation (Sui Generis/HMO) and to revitalize (and re-open) the public house - The Junction. CrowdProperty are delighted to offer lenders the opportunity to lend towards a Serviced Bridging Loan. Lenders to this project will receive our 8% per annum 1st charge secured returns but paid monthly. The reason for monthly payments for this specific project is to ensure our maximum LTV of 75% is not breached at any point - the level of lending for this project will remain at 70% LTV throughout. Having reviewed the borrowers assets and liabilities the borrower will receives monthly income over numerous properties meaning they are able to pay monthly interest. Lenders to this project will be receive 8% per annum, but paid out monthly rather than rolled up. Monthly interest, at 0.667% per month funds will be returned to the account from which you pledge. You will be able to lend in the usual way, using all our investment products: our Standard Product, the CrowdProperty ISA and via SIPP or SSAS. For this project, a £5,000 pledge limit will be in place for the first 5 minutes to provide all those who have taken the time to perform their due diligence a chance to participate, given the current demand for CrowdProperty projects. After 10:05am, pledges greater than £5,000 can be created or existing pledges can be increased, subject to availability. Additionally, CrowdProperty AutoInvest functionality can automatically pledge on your behalf at 10:00am although the actual pledge on a project might be scaled back subject to demand and therefore your AutoInvest pot may be spread across more loans than your original settings. The project is situated at 99 Station Road, Polegate, East Sussex, BN26 6EB. Polegate has a population of 8,500 and is located 5.6 miles (north east) from Eastbourne and 21 miles (east of) from Brighton. With Polegate High Street being just 0.5 miles from the subject property, local amenities include, St Johns C of E Church, Co-op, Harvester, Lloyds Pharmacy and Polegate train station. Trains to Eastbourne and Brighton take 8 minutes and 48 minutes respectively with trains to London Victoria taking about one and a half hours The subject property is currently a vacant public house namely - 'The Junction' and comprises the following: Lower Ground - refrigerated store Ground Floor - Kitchen, Bar, Seating area, Function Hall, First Floor - Kitchen, 3 X reception rooms Second Floor - 2 X bedrooms

Project offered by

CrowdProperty

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

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