General Information

  • IRR%: 8
  • CoC%: 8
  • Minimum: 0 GBP
  • Type: -
  • Asset: -
  • Investors: 322
  • Start Date: 2020-02-07
  • End Date: -
  • Target: 300k GBP
  • Completed: 100%

Additional Information

  • Former Greenhithe Clinic
  • DA9 9EN
  • Dartford
  • Dartford
  • Great Britain

This is phase 2 of a 3 phase development loan that commenced in Nov 2019 on land at Former Greenhithe Clinic, Knockhall Chase, Dartford, DA9 9EN The agreed total loan facility is £1,190,000 with £500,000 already raised where lenders will receive 8% with interest being rolled up and paid at exit The loan term for phase 2 lenders is approx 16 months The borrower purchased the land in March 2019 and proceeded to secure Full Planning Permission from Dartford Borough Council ref: DA/19/00657/REM for the erection of 5 dwellings following an earlier outline planning permission ref: DA/18/01573/OUT. The 5 dwellings will comprise 4 x 2 bedroom semi-detached houses and 1 x 4 bedroom detached house. The proposed buildings will be constructed of traditional brick elevations beneath pitched tiled roofs Situated near Dartford the principal town in North Kent with a population of 85,911, the site is located 18 miles south-east of Central London with connection to the M25 J1 and Queen Elizabeth Thames Bridge via the A2 approx. 3 miles to the west. Dartford is principally a commuter town for Greater London. It is an important rail hub with the Ebbsfleet International Railway station about 1.5 miles to the east. Bluewater Shopping Centre is about 1 mile to the south. The site was formerly The Greenhithe Medical Clinic which has since been demolished with the site now cleared. The site measures 0.09 hectares (0.22 acres). The proposed development will comprise:- Units 1 - 4 being 4 x 3 storey semi detached houses Ground floor 39.46m2 1st floor 30.83m2 2nd Floor 30.2m2 Total 100.49m2 /1082sq.ft per unit Unit 5 being 1 x 2 storey 4 bed detached property Ground Floor 96.17m2 1st Floor 74.43m2 Total 170.6m2 /1836sq ft Total size of development – 572.56m2 / 6,164sq ft Works commenced in November 2019 and the IMS inspected last week. Works completed to date include: ? Installation of surface water attenuation tank to front of units ? Site drainage commenced ? Excavation and strip foundations completed to all units ? Trench fill Brick and block work to DPC progressed ? One unit block and beam floor commenced Moreover the timber frame SIP panels have been booked with delivery expected week commencing 2nd March 2020. The Build programme is 11 months with Practical Completion of the works in November 2020.

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

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