This project has now been purchased, of which mostly funded with Crowd Funding. However, Its not too late to invest.
We are now 1/3 of the way through our fundraise and this is how its roughly structured:
1/3 – Funds the majority of the purchase (Done)
2/3 – Funds the start of the works
3/3 – Finishes off the project to sell the flats on the open market
If you have not already seen a post, this development will see the creation of two new 2-bed flats in the centre of Reading, Berkshire. The bare basement which has FULL Planning permission in place to be converted to the 2 bed apartments.
No matter what time or stage the fund is joined ALL investors have 1st charge security. Click here If you would like to register for more details
This project will be starting Q4 2019 on site.
Planning permission has been gained to convert a disused car parking undercroft in to 2x 2-bed high-spec apartments.
- Purchase Cost (inc. legals and SDLT) = £100,000
- Development Costs = £250,000
- Gross Development Value = £440,000
- Profit = £90,000
- Profit on GDV = 20.5%
- Duration of Build : 6 months