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 Peer To Peer & Development Performance Stats

June 2017 Summary P2P & Development Stats

June 2017 summary and monthly statistics can be seen below for our P2P and development loans.

Bridging Loans 30/06/2017
  Net
Total Amount Lent £19,956,670
Total Returns Paid £592,835
No of Loans 61
No of Loans Repaid 19
Average Loan Period 9
Investor Capital Lost 0%
Average Loan Size £325,072
Average Loan to Value 69%
Average Interest Rate Paid 8.94%

 

Development Loans 30/06/2017
  Net
Total Amount Lent £11,960,571
Total Returns Paid £146,212
No of Loans 18
No of Loans Repaid 6
Average Loan Period 10
Investor Capital Lost 0%
Average Loan Size £664,476
Average Loan to Value N/A
Average Interest Rate Paid 9.74%

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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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May Peer To Peer & Development Performance Stats

May 2017 Summary P2P & Development Stats

May 2017 summary and monthly statistics can be seen below.

Bridging Loans 30/05/2017
  Net
Total Amount Lent £18,816,670
Total Returns Paid £592,835
No of Loans 52
No of Loans Repaid 19
Average Loan Period 9
Investor Capital Lost 0%
Average Loan Size £358,721
Average Loan to Value 70%
Average Interest Rate Paid 8.94%

 

Development Loans 30/05/2017
  Net
Total Amount Lent £11,960,571
Total Returns Paid £146,212
No of Loans 18
No of Loans Repaid 6
Average Loan Period 10
Investor Capital Lost 0%
Average Loan Size £664,476
Average Loan to Value N/A
Average Interest Rate Paid 9.74%

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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.

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April Peer To Peer & Development Performance Stats

April 2017 Summary P2P & Development Stats

April 2017 summary and monthly statistics can be seen below.

Bridging Loans 30/04/2017
  Net
Total Amount Lent £15,590,670
Total Returns Paid £592,835
No of Loans 44
No of Loans Repaid 19
Average Loan Period 10
Investor Capital Lost 0%
Average Loan Size £339,606
Average Loan to Value 70%
Average Interest Rate Paid 8.94%

 

Development Loans 30/04/2017
  Net
Total Amount Lent £11,010,571
Total Returns Paid £146,212
No of Loans 17
No of Loans Repaid 6
Average Loan Period 10
Investor Capital Lost 0%
Average Loan Size £647,681
Average Loan to Value N/A
Average Interest Rate Paid 9.74%

You can find all our latest investments by clicking here.


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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

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April – Monthly Property Development Update

April 2017

Here is a round-up of our latest developments and how they are progressing, with pictures available on the links below the descriptions.

HCD10 – Bollin Heights

Work is progressing on schedule and the show apartment is now complete and looks great.

We have applied for planning permission for phase 2, and expect a positive decision on 8th May as it is not contentious.

Sales proceeds are now £300,000 over what was anticipated.

Click here to see latest photos

HCD5 – Bank Chambers

Work is now well underway and proceeding apace. The conservation officer has signed off on all works for the top two floors. Discussions regarding the extra apartments on the ground floor are ongoing.

Click here to see latest photos

HCD4 – Gratrix Park

This development is progressing well with no issues. Sales are strong with 12 units reserved, and we have increased prices slightly.

Click here to see latest photos

HCD3 – The Woodlands

Work has now started after all the council’s issues have been resolved. We are working to get the show home and on-site sales office built ASAP to aid sales. Although the start of works has been significantly delayed, the contractors should be able to make up most of the time lost and will do so once enough confirmed sales have been made.

Click here to see latest photos

HCD2 – 10 Congleton Road, Alderley Edge

Work is proceeding apace with no problems. We will be raising money for the final stage next month (May 2017).

Click here to see latest photos

HCD1 – Regent St

Unfortunately, the expected bulk sale fell through. We have changed agents and improved marketing and have decided to drop the price in the hopes of attracting interest. There are no confirmed sales on the remaining 5 as yet, although there are various interested parties.

HCP156 – 103 Station Road, Marple

The cellar and all other remedial works have now been completed and the property will be going back on the market ASAP.  The cellar is now a habitable space.

Click here to see latest photos

HCD7 – Brundred Farm

Following the rejection of our planning application despite the planners recommending it, our purchase option has been extended for 8 months. The planning appeal is being prepared and will be submitted imminently.

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

 

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