Development Update – August 2017

Please find below the latest updates on all our ongoing developments as of the beginning of August 2017.  There are also links to the latest images for most of the developments, which will give you an idea of how they are shaping up.

Please note these updates are for keeping you informed re the progress of the development itself.  Most of our development loans have estimated repayment dates, and most also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the Development Loans Payment Schedule, also available on the project status page on the website.

HCD13 Coppenhall Way

Since our last update, work has been progressing quickly in the background.  All designs for foundations and superstructure have now been completed, and our main contractor has been appointed on a fixed price design and build contract.

Marketing materials for the site are well under way.

Most importantly of all – work starts on site on Monday August 14th 2017, so next update will hopefully include pictures to provide a better idea of the site.  We will also be erecting a time lapse camera once the work cabins are in place.

View Coppenhall photos from 14th August.

HCD10 Bollin Heights:

All investors have been sent a recent update regarding progress with this development as it has suffered some delays mainly die to us applying for planning permission to enhance the apartments and the GDV of the site – which we have done successfully.  We have sold 80% of the units in this development to date, and the development is progressing steadily.

A new round of crowdfunding for phase 2 will start later in the month in order to finish the rest of the development. planning permission for 8 additional apartments was granted this week.

View Bollin Heights pictures

HCD5 Bank Chambers:

We are progressing well with the build now, as investors will be able to see from the photos. Not everyone will recognise some of the equipment we are having to put into the building, but we have a planning condition that states we must have a system that allows the windows to be closed to omit noise pollution whilst allowing fresh air in to circulate around the apartments. We are having to fit an MVHR system, which is a clean air recovery system. This is an unforeseen project expense, which has required us to make savings in other areas.

We have also been battling building control to get the initial building regulations notice, as due to the recent Grenfell fire in London, all local authority building control are being extra cautious, which means despite our fire specialists OMEGA fire saying our layouts are acceptable and there is no need for a sprinkler system, building control will not budge!!! We have been advised to take this to appeal, but we don’t have time to wait for a decision, so again we will have to use the contingency budget to meet this requirement.

View Bank chambers photos

HCD4 Gratrix Park:

You will see from the pictures the site is still progressing at a great rate and we will soon be laying the back gardens. The intended moving in date is 24/08/17 for plots 12 and 13, and plot 14 will follow shortly after. We are really pushing hard to meet this date, which has required one of the PM team to work from site 2 days a week to ensure that the quality of finishing is met and surpassed where at all possible. We now have a buyer for each plot at Gratrix Park and should have exchanged on all plots within the next two months, which is great news for investors.

View Gratrix Park photos.

HCD3 The Woodlands:

The Woodlands development is progressing well and we now have 28 foundations laid. We also have 6 sales to date, which is encouraging, given our slow start. Block has been laid to 4 houses and we are aiming for our show house to be complete in 15 weeks. We have been in discussion with a designer about the interior design of the show house to aid sales. Our PM team are working with the architects to amend the internal layouts to provide maximum amount of living space. A recent decision has been made to sell the rest of the site freehold in light of the issues with leaseholds that have recently been publicised by the media.

View The Woodlands photos.

 HCD2 Alderley Edge:

Major breakthrough here is the planning permission appeal win, with costs. The appeal officer conclusion comments are below:

  • For the reasons given above, having regard to all matters raised, the appeals are allowed.
  • Therefore, I conclude that unreasonable behaviour resulting in unnecessary or wasted expense has been demonstrated and that a full award of costs is justified.

Unfortunately, due to the delay in the appeal decision we had to slow down the build, just in case we had to revert back to the original permission that allowed for just two apartments.

We have now progressed the build significantly and the site is almost water tight. We will start marketing the site in September. We have already significant interest on the apartments private channels and some of which are serious buyers. Again, we are confident that this will be a truly flagship development and will achieve the sales figures proposed.

View Alderley Edge photos.

HCP156 Marple:

Unfortunately, the buyer has pulled out at the last minute which is hugely disappointing. The property is being remarketed through local agents, and we already have a viewing lined up.

HCD1 Regent Street:

The sales are continuing apace with them all in various stages from survey being complete and waiting on mortgage offer, to arranging exchange and completion.

Brundred Farm

We are still waiting on the outcome of the planning application.

 

Performance Statistics: July 2017

Performance Statistics: July 2017

Please see below for our repayment stats for July 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

July 2017

  • Projects and loans paid out against = 23
  • Total value of dividends and interest paid = £104,300.89
  • Total value of capital repaid = £620,000.00
  • Total number of investors paid = 665

Total for 2017 So Far

  • Projects and loans paid out against = 165
  • Total value of dividends and interest paid = £832,890.06
  • Total value of capital repaid = £5,117,307.39
  • Total number of investors paid = 4,632

Cumulative (from January 2013)

  • Project paid out against = 599
  • Total value of dividends and interest paid = £1,968,515.06
  • Total value of capital repaid = £10,123,027.39
  • Total number of investors paid = 13,130

To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

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Development Update – July 2017

Please find below the latest updates on all our ongoing developments as of the start of July 2017.  There are also links to the latest images for the developments – lots of fascinating photos of building equipment and big holes in the ground!

Please note these updates are for keeping you informed re the progress of the development itself.  Most of our development loans have estimated repayment dates, and most also have more than one round of funding, repayable at different stages of the build.  For information on the estimated repayment date of the phases of development loans you are invested in, please refer to the investment pack you downloaded when you invested, and to the last page of the P2P and development deals schedule, also available on the project status page on the website.

HCP156 – 103 Station Road, Marple

After 6 weeks’ back on the market we have had 3 viewings, one of which has just turned into an offer of £545,000 which we have accepted and we will be looking to complete on the sale within 28 days (fingers crossed).  There are a few bits of work we have agreed with the purchaser to carry out before the sale can go through.

HCD1 – Regent Street

All units are now reserved so none are on the market anymore, and are moving through the conveyancing process.   They are all at different stages of this process.

HCD2 – No. 10 Alderley Edge

Since receiving full planning permission for the 4 luxury apartments we have really upped the pace on the build with the appointment of a new site manager, and we have also extended the workforce in order to further speed things up. We are also meeting with various interior designers to acquire some input into the overall design of the project. The site isn’t without its challenges; for example, we are currently seeking approval to have two more garages added to the scheme, which requires some creative thinking on the landscaping design. Positively, without even going on sale formally, we have interest building through personal channels.

Completion of the build is expected to be March 2018, if not earlier. We are aiming to start officially selling in 6 weeks, as our appointed sales agent thinks the development needs the roof to be completed in order to give it the wow factor before showing potential purchasers.

Click here to see the latest Alderley Edge photos

HCD3 – The Woodlands

Following the change of contractor, the site has progressed massively. By the end of this week we should have 20 of the 28 foundations in and we are beginning to build up to DPC. We are now close to exchanging on our first two plots and have taken further reservations for plots 28 and 26. This is all been done through our preferred agent Sebastian’s of Cheshire. Following a change in design of the bottom floor internal layout by one of our team we have been able to add bi-fold doors, which has really created a buzz in the area about the development. New CGIs will be released in about 2 weeks.

We’re currently anticipating the entire build will be complete by December 2018 but we have the option of speeding that up if sales come in quicker than expected.

Click here to see the latest The Woodlands images.

HCD4 – Gratrix Park

After months of to-ing and fro-ing we have finally had a decision from United Utilities about going ahead with the sewer diversion. This has caused an unforeseen delay with the build, but something we have unfortunately not been able to resolve any sooner.

First occupation should be in August and then the plan is to have everyone else moved in by ideally Christmas, but all things considered early 2018 is more realistic. We have currently sold 15 out of 19 homes.

Click here to view the latest Gratrix Park images.

HCD5 – Bank Chambers

Following the change of contractor, we seem to be pushing on at a good pace again. We have put all the major steel work into the building and the new floors are starting to be formed. We have a few challenges to overcome with the roof and the old lift, however the build is progressing nicely. Stockport council planning and building control have been at loggerheads about allowing us to proceed which has caused delays. All apartments are now sold again, after the re-sale of apartment 8. Allowing for the delay caused by the contractor being changed, we believe we are looking at mid-October 2017 for completion of the build.

Click here to view July 2017 Bank Chambers images.

HCD10 – Bollin Heights

Planning permission has been granted for the changes to the balconies. Planning permission is expected to be granted 8 weeks from 26/05 for the proposed additional 8 extra apartments (phase 3)– once approved completion for these apartments is provisionally scheduled for April 2018. On site for the start of phase 3 (8-unit extension) should be the first week in August 2017. Major scaffolding is going up over the next 2 weeks, so we can start work on the roof. We also have multiple new utilities connections to complete, which require major civils works. Sales have continued steadily and now only 6 out of phase 1 & 2 (24 apartments) remain to be sold; however there is plenty of interest.  We have exchanged on 10 of the apartments currently reserved.

Expected completion for Phase 1 (24 original apartments) is currently expected to be mid-November 2017. This is clearly a few months later than originally envisaged. If any investor does not want to stay in until that time please let us know and we will see if we are able to return your capital earlier.

Click here to view the latest Bollin Heights pictures

HCD13 – Coppenhall Way

Completion finally took place on June 21st 2017, after a protracted legal process.  The delay involved execution of the Section 106 Agreement for off-site works contribution by the local authority (turns out they had a locum solicitor with no staff which wasn’t particularly helpful).

We are now at the value engineering stage with our chosen contractors in order to fix the price and transfer any cost overrun liability to the Contractor.

Preliminary works have started on site, with the removal of a large tree, erection of boundary fencing and establishing ongoing site entrance points for personnel (from the adjacent public car park) and deliveries via Coppenhall Way.

We envisage a full start on the site at the beginning of August 2017.

Meetings have been held with local sales agents and draft particulars have been prepared.  We already have two parties seeking to reserve their chosen plots.

Brundred Farm

We are still awaiting the planning appeal decision.

Performance Statistics: June 2017

Performance Statistics: June 2017

Please see below for our repayment stats for June 2017.  These list total dividends, interest and any capital repayments made in that month covering our B2L investments, development and P2P loans, as well as the year’s returns to date. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

June 2017

  • Projects and loans paid out against = 25
  • Total value of dividends and interest paid = £98,525.40
  • Total value of capital repaid = £1,026,000
  • Total number of investors paid = 794

Total for 2017 So Far

  • Projects and loans paid out against = 142
  • Total value of dividends and interest paid = £728,589.17
  • Total value of capital repaid = £4,497,307.39
  • Total number of investors paid = 3,967

Cumulative (from January 2013)

  • Project paid out against = 576
  • Total value of dividends and interest paid = £1,864,214.17
  • Total value of capital repaid = £9,503,027.39
  • Total number of investors paid = 12,465

To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

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June 2017 – Monthly Property Development Update

Here is the June 2017 round-up of our current developments and how they are progressing with accompanying build photos.

HCD1 – Regent Street

We have sold two more houses, so four are now proceeding to exchange with one unit left to sell. We also have potential interest in the remaining house from two parties.

HCD2 – No. 10 Alderley Edge

Excellent news as we have now been granted planning permission on four apartments along with payment of all costs incurred in the appeal process.  The development is continuing to progress in all other ways.

HCP156 – Station Road, Marple

All additional works have now been completed on this lovely house. Julian Wadden Estate Agents have uploaded the property details to Right Move and other property sites.  Several viewings have taken place but no offers as yet.

We have organised for the watering of the grass when there are dry spells and the lawns to be cut regularly to keep it looking pristine.  We are also constantly nipping into the house to change flowers in vases and keep it fresh for viewings. Other than that this is in the hands of the agents now – there is nothing more we can do and have to sit and wait for an interested buyer – fingers and toes crossed.

HCD3 – Woodlands

We have had to switch contractors as the one appointed (due to personal financial difficulties) had stopped paying his builders. There is no liability attached to us for this, but it has caused a delay of a couple of weeks.  Work is now progressing on the site again, and there is moderate interest from buyers which we do not expect to increase until the show home is finished.

HCD4 – Gratrix Park

Work is progressing on schedule with no issues to report.

HCD5 – Bank Chambers

The roof is leaking and needs to be repaired so we are costing this out at present. We are also still dealing with planning permission to convert the lower floor – sadly these things are never quick or easy to progress.

Fortunately the ground floor conversion does not impact on progress on the rest of the building.  The area around this building continues to improve with one of the best restaurants in the Manchester area having opened up recently just around the corner – “Where the Light Gets In”, which recently received rave reviews in the Guardian, and is seriously worth a visit if you are in the area.

HCD7 – Brundred Farm, Prestbury

This is still in planning appeal stage. We are more confident of success after the success of the appeal with No 10 Alderley Edge.

HCD10 – Bollin Heights

Apartments 1-4 are almost 90% complete on the build.  The doors are taking a little longer as they are made to measure doors.  The show apartment is completed and ready for viewings. There are some issues with obtaining bricklayers (which is an industry-wide problem) and this is slowing matters down a little.

Don’t forget, if you need any help with the investment process, or have any questions, you can call our client account team, Nigel or Damian, on 0161 667 4264, or email them on: [email protected]

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Performance Statistics: May 2017

Performance Statistics: May 2017

The figures are now in for our performance statistics from last month. You will see below our summary figures from the dividend, interest and capital payments made in May 2017. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

May 2017

  • Projects paid out against = 31
  • Total value of dividends and interest paid = £89,844.35
  • Total value of capital repaid = £0.00
  • Total number of investors paid = 690

Total for 2017 So Far

  • Projects paid out against = 117
  • Total value of dividends and interest paid = £630,063.77
  • Total value of capital repaid = £3,471,307.39
  • Total number of investors paid = 3,173

Cumulative (from January 2013)

  • Project paid out against = 551
  • Total value of dividends and interest paid = £1,765,688.77
  • Total value of capital repaid = £8,477,027.39
  • Total number of investors paid = 11,671

To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

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May 2017 – Monthly Property Development Update

May 2017

Here is a round-up of our latest developments and how they are progressing with accompanying and sometimes interesting photos.

HCD2 – No. 10 Alderley Edge

We are very pleased to announce that we have, this week, won the planning appeals for Alderley Edge (and were awarded full costs). We also already have two parties keen to reserve two of the apartments.

HCD1 – Regent Street

We have received reservation deposits on another three properties at Regent Street.  Assuming all of them go through we will have just two plots remaining – and we have some serious interest in at least one of those. It’s taken quite a bit longer to sell these properties than expected, but we have learned some valuable lessons along the way and they are now selling well.

HCP156 – Station Road Marple

All the issues with the flooding to the cellar have been dealt with and it is now a fully habitable space with flooring.  Our very own Diane (what would we do without her!) has been busy maintaining the lawn and mountaineering up step ladders to trim the hedges in order to keep the property looking attractive to viewers. We recently appointed a new sales agent who is generating a fair amount of interest in the property.  The new photos look great on Rightmove and we had several viewings last week. We await further developments – fingers crossed this property will sell soon as it deserves to be lived in and loved.

HCD5 – Bank Chambers

Our Bank Chambers development of nine apartments is in the heart of thriving up-and-coming Stockport. The roof has now been removed and thankfully no unforeseen horrors were exposed (which is always a danger when converting an old building).  New windows have been fitted and other work is progressing smoothly.

There are still some issues to try and sort out with the conservation officer regarding our plans for the additional apartments on the ground floor, and we are hoping to have some positive news on this shortly (though there are never any guarantees when dealing with council officials who can rather suddenly move the goal posts!)

HCD10 – Bollin Heights

Full planning has been granted for stage two of this development and we are now in the process of applying for stage 3 of the planning permission which involves adding an extension to the rear of the building. We have also have found a personal training company who are keen to set up and operate the fitness studio, and we expect the apartments to be ready for purchasers to move into by October 2017. The sales agents continue to receive strong interest in the remaining apartments.

HCD4 – Gratrix Park

We had a slight issue recently with the drainage on part of the site which has caused minor delays, and we had to create a ‘soak-away’ under the road after negotiation with the council who decided they weren’t going to pay for it – joy. This has created additional and unexpected costs, but everything else is progressing well. We anticipate the show house and the first few units will be complete by early July 2017.

HCD3 – The Woodlands

We had a few problems with the council towards the start of the year, but everything is now resolved. The foundations for the first tranche of houses have been laid and work is progressing at a decent pace. Interest from local Yorkshire home buyers (who have to date been somewhat sceptical about the idea of buying off-plan) has started growing as potential buyers can now see the site developing and taking shape. Our priority is to get the show home ready as quickly as possible to aid off-plan sales.

 HCD13 – Coppenhall Way

We have exchanged contracts and the pre-completion conditions should be finished this week so that we can start clearing the site and ‘breaking ground’ before the end of the month.

HCD7 – Brundred Farm Prestbury:

No change – we are still waiting on the outcome of the planning appeal.

Don’t forget, if you need any help with the investment process, or have any questions, you can call our client account team, Nigel or Damian, on 0161 667 4264.

Register Now for more Info

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Performance Statistics: April 2017

Performance Statistics: April 2017

The figures are now in for our performance statistics from last month. You will see below our summary figures from the dividend, interest and capital payments made in April 2017. You can also see our total cumulative returns from 2013, which you may also find helpful to know.

April 2017

  • Projects paid out against = 22
  • Total value of dividends and interest paid = £166,123.59
  • Total value of capital repaid = £589,400 (1 x development capital, 1 x bridging loan & 2 x HCP projects)
  • Total number of investors paid = 769

Total for 2017 So Far

  • Projects paid out against = 86
  • Total value of dividends and interest paid = £540,219.42
  • Total value of capital repaid = £3,471,307.39
  • Total number of investors paid = 2,483

Cumulative (from January 2013)

  • Project paid out against = 520
  • Total value of dividends and interest paid = £1,675,844.42
  • Total value of capital repaid = £8,477,027.39
  • Total number of investors paid = 10,981

To find out more about investing with The House Crowd, you can register with us by clicking on the purple button below. Alternatively, take a look at our current property investment opportunities by clicking the blue button! Either way, we’re always here to answer your questions in any way we can.

Register Now for more Info

View our Property Investments

 

Frazer’s Book Is The Number 1 Bestseller!

As you’re probably aware by now, Frazer has written another book called ‘The Alternative Guide To Property Investment’ which is all about how you can use crowdfunding to build your property portfolio and a better financial future for you and your family.

The book was available for pre-order yesterday, and he already managed to top the charts for real estate, personal finance and investing, making it a bestseller!

You can order the book off Amazon here

Here are some of the reviews so far…

“Frazer has written this book using common English words which are spoken by most people every day, which makes this book a joy to read. It is almost like a modern courtroom drama with the various points discussed, analysed, the evidence being carefully considered as the reader is guided through this book with short chapters, and a complete lack of waffle or flannel (if you prefer). I wished that Frazer had written this book 5 years earlier!”

John Miller (crowdfunding investor)

“An invaluable and enlightening insight for your financial future’’

Nigel Beverley (crowdfunding investor)

“This book shows how I can secure my family’s future through property investment, whilst avoiding the usual hurdles. It gives me peace of mind that crowdfunding platforms exist and, more importantly, that they are run by real property experts.”

Gareth Clements (crowdfunding investor)

“I‘m retired and always looking for the best way to boost my income each year. This guide is essential reading for anyone who wants to control their own investment decisions. Why didn’t someone tell me about this brilliant alternative form of investment before now.”

Paul Stallard (crowdfunding investor)

“Frazer’s book about property crowdfunding gives a fascinating outline of his history over a wide range of ‘job’ experiences which led to the creation of his crowd-sharing property business (I think its success must stem from him earning money from ‘magic’ shows in his early teens, coupled with the rigorous training of a law degree.)

As for the main part of the book, I read it with much interest (non-monetary!) – it was very thorough – and when I had finished it, I felt that I had no questions left to ask about property crowdfunding! It also reinforced my opinion that ‘I had done the right thing’ in putting some of my pennies into such a scheme!”

Dr. Philip Briggs (crowdfunding investor)

Residential v Commercial Property Investment

Residential v Commercial Property Investment

This is an excerpt from Chapter 6, ‘Residential versus Commercial Property Investment’, of Frazer’s upcoming book, The Alternative Guide To Property Investment. You can register your interest in pre-ordering the book by clicking on the button at the bottom of this post.

We have discussed the residential property investment sector at some length, but commercial property can be an excellent addition to a healthy investment portfolio if you are looking for consistent, steady yields alongside a decent level of growth.

Commercial real estate has shown long-term positive performance, with combined annual returns averaging around 9% depending on the area and type of property.

The steady and predictable cash stream potentially afforded by rental income from commercial property translates to possible protection against volatility in financial markets.

Here are some reasons why investors may find commercial property attractive:

  • Historically strong returns – With an average annual return of about 9% over a 20-year period commercial real estate has performed well historically.
  • Rental income from stable commercial properties means a potential steady and predictable cash stream (translating into possible protection and diversification during financial market volatility).
  • Beneficial taxation – When structured properly, commercial property can offer investors a number of tax benefits.
  • A hedge against inflation – A potentially important factor for your portfolio, since property normally benefits from inflation.
  • Ability to leverage your capital – As with residential property you can obtain mortgages and potentially multiply your ROCE (return on capital employed).
  • Diversification – There is no direct correlation with the stock market and you can further diversify within the asset class itself.

These are some of the different types of commercial property into which you can invest and spread your risk:

  • Office property (either prime or secondary);
  • Industrial property: Warehouse and manufacturing units; heavy manufacturing; light assembly; ‘flex’ warehouses (mixed industrial/office space); and bulk warehouses, like distribution centres.;
  • Retail: Individual shops,takeaways, shopping centres, etc.;
  • Multi-unit apartment buildings/HMOs: Although providing homes, these are treated as commercial premises;
  • Self-storage: Self-contained units rented to tenants for storage of material items, usually on a monthly basis;
  • Hotels: Bed and breakfast, small boutique hotels or big-name establishments.

However, property investors when they start investing seem to prefer residential, perhaps understandably, as it falls more easily within their knowledge base and comfort zone.

The philosophical difference between residential and commercial is that when you invest in residential property, you are essentially transacting with individuals – it is a much more personal transaction especially as people will be living in your property and making it their home.


To read more about why to invest in property, you can click below to register your interest in the book. Fill in your details, and once the book is released, we will send you more information.

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