Development Update – November 2017

Please find below the latest updates on all our ongoing developments as of the end of October 2017.  There are also links to the latest images for earlier developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and units sold, and a number 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.

HCD16 – Parkside Phase 1

We completed the purchase of this site first week of November.  The main contractor has been appointed and a pre-start meeting was held 7th November.

Detailed design including new kitchen designs have been carried out in the background pre-purchase and a physical start on site is due November 21st.

HCD15 – Buckton View

We have completed the purchase of this site 6th October. Our nominated builders, CPUK, are now fully appointed, have discharged the pre-start planning conditions and start work on the site week commencing 13th November subject to Local Authority sign off.

A re-work of the house designs to make the interior space work better has been completed and can be viewed by clicking here.

HCD14 – Old Library, Frodsham

Work commenced on the site 7th November with a full measured survey and strip out of the existing building.  A more detailed programme of work is currently being prepared by the design team.

HCD13 – Coppenhall

After much discussion with the local council, this development is now officially called “Springfields”.  The postal address will be: 1-10 Springfields, Coppenhall Way, Sandbach. This name will be used in marketing material for the sale of the properties.

Works are progressing well at this development.  Our main contractors have reported a one-week delay (this was due to the engineer’s drawings and it is expected this time will be recovered).  We have received a detailed programme that shows handover of plots one & two pre-Christmas allowing us to present the show house before the end of January 2018 (this was originally projected for the end of March 2018).

Plots 1&2 have the roof completed, windows on site ready for install, and the staircases are in the process of being constructed.

Plots 3&4 are in the process of being roofed.

Plots 7,8,9&10 have foundations complete and are being concreted.  Timber frames have been produced and will be delivered to site week commencing 6th November.

View the latest Coppenhall photos

View latest site video

View the houses for sale on Rightmove

HCD10 – Bollin Heights

The development at Bollin Heights is entering into its final month before we anticipate being able to release the first set of apartments to buyers. The pictures attached to this update include the final windows and doors going into phase 1 and the decorated communal areas. We have some work to do on the external areas, including the entrance gates and parking areas, but our contractor has this all in hand. We are still very much targeting to serve practical completion notices for circa 15 apartments in December.

Our progress with the extension has been steady (see photos on the link below), as we were awaiting a re-design of steel work from our appointed structural engineers; however we now have all necessary information to finish the extension. We still anticipate that we will be completely off site by April 2018.

Sebastians (our estate agent) have continued to receive enquiries for the remaining plots and have had multiple viewings by the same buyers, so we hope to have further sales completed soon. Currently we have 23 out of 32 of the apartments either exchanged or reserved with exchange imminent.

Please note that investors will be repaid on a first in first out basis with phase 1 investors being repaid first.

View the latest Bollin Heights photos

HCD7 – Brundred Farm

We are currently raising investment for this project, as we plan to erect a new house on this site, plus demolish the old one and replace with a newer property. We are aiming to complete on the site purchase 24th November.

HCD5 – Bank Chambers

The Bank Chambers development is starting to shape up nicely, as you will see from the pictures linked to below.

The bathrooms are currently being tiled, kitchens are being fitted and doors are going on. Flats 2-7 are now about 80-90% finished and plots 8 & 9 are not far behind. We are currently progressing the necessary works to finish the communal spaces and flat 1. We are pushing our contractor to ensure the first set of purchasers can move in by Christmas, however we do not want to compromise on quality so we are mindful of this as wish to maintain the qualities of this lovely old building.

View the latest Bank Chambers pictures

HCD4 – Gratrix Park

We have now handed over a total of 5 properties at Gratrix Park. The owners of numbers 10 – 14 are all either moved in or are about to. We have scheduled another 5 properties to be handed over before Christmas including plots 1-4 and plot 16. Our project programme still has all contractors completely off site in February.

Our contractors are keeping in touch with buyers and ensuring their expectations are managed with regards to moving in dates. We have 14 properties exchanged on, 2 more are anticipated to exchange week commencing 14th November and the remaining plots are all reserved through either Jordan Fishwick and Sebastian’s estate agencies. We anticipate having all plots exchanged on by mid-December.

The pictures linked to below show the next set of finished kitchens and also the finished detached properties about a week before handover on plots 11 & 10.

We have already started paying out the earlier investors in this development, and will continue to do so on a first in first out basis as sales are completed.

View the latest Gratrix Park photos.

HCD3 – The Woodlands

We are now in our 6th month on the build and progress has been pleasingly steady. We now have all 28 foundations in for the houses and blockwork progressing well on the first 13 units.

The show house is now coming together windows have been installed this week, so it’s possible to see how the buildings will look when complete.

We plan to have a soft opening of the show house this side of Christmas and a grand opening in early January which we hope will progress off-plan sales. The new hoardings will soon be erected, which should help make the entire site a more appealing prospect.

We believe the internal specification will impress potential buyers when they can view the show home, and with Help to Buy as a marketing tool, and the houses starting at £172,000 in a gated development, we hope that these properties will be an attractive proposition for home buyers, especially as there is an undersupply of houses in this area.

Our preferred estate agent Sebastians has started to book in appointments for viewing the show house in January and there has been an encouraging amount of interest to date.

View the latest Woodlands site photos

View the latest CGIs of proposed buildings

HCD2 – Alderley Edge

Number 10 Alderley Edge has progressed well over the last month. We are now up to the final floor and as you can see from the pictures linked to below the views from the penthouse apartment are rather impressive (or would be if the weather wasn’t being particularly Manchester like on the day we took the photos). We have had to have the steel roof re-designed and our contractor is trying to expedite the fitting process of this by incorporating timber trusses into the roof and omitting some of the steel.

Our appointed interior designer has been carrying out some extremely impressive work on aiding us in the sourcing of kitchens, bathrooms and the overall finishing of the apartments, so we are confident they will surpass expectations.

Sebastians are still receiving regular enquiries for sales and we trust once the build has progress further there will be commitment to buy.

We are feeling quite excited about how the buildings will look when complete. The development is scheduled to be finished in March/April 2018.

View latest Alderley Edge photos

HCP156 – Station Road, Marple

We have had two offers on the property since our last update. We have accepted one of them. Solicitors and surveyors have been instructed.

 

Performance Statistics: October 2017

Performance Statistics: October 2017

Please see below for our repayment stats for October 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.

October 2017

  • Projects and loans paid out against = 30
  • Total value of dividends and interest paid = £153,220.52
  • Total value of capital repaid = £1,296,000.00
  • Total number of investors paid = 935

Total for 2017 So Far

  • Projects and loans paid out against = 243
  • Total value of dividends and interest paid = £1,178,783.91
  • Total value of capital repaid = £7,288,307.39
  • Total number of investors paid = 7,048

Cumulative (from January 2013)

  • Project paid out against = 677
  • Total value of dividends and interest paid = £2,314,408.91
  • Total value of capital repaid = £12,294,027.39
  • Total number of investors paid = 15,546

 


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

 

Performance Statistics: September 2017

Performance Statistics: September 2017

Please see below for our repayment stats for September 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.

September 2017

  • Projects and loans paid out against = 15
  • Total value of dividends and interest paid = £77,384.42
  • Total value of capital repaid = £400,000.00
  • Total number of investors paid = 407

Total for 2017 So Far

  • Projects and loans paid out against = 216
  • Total value of dividends and interest paid = £1,025,563.39
  • Total value of capital repaid = £5,592,307.39
  • Total number of investors paid = 6,113

Cumulative (from January 2013)

  • Project paid out against = 650
  • Total value of dividends and interest paid = £2,161,188.39
  • Total value of capital repaid = £10,998,027.39
  • Total number of investors paid = 14,611
  • Actual Default Rates 20.0%*

*Development and bridging data. Based on redeemed loans with a 8 week tolerance threshold.


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

 

Development Update – October 2017

Please find below the latest updates on all our ongoing developments as of the start of October 2017.  There are also links to the latest images for most of the developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and units sold, and a number 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.

HCD16 – Parkside Phase

Fund raise is well under way for acquisition.  In the interim we have been finalising specification, materials and programme with our Contractor and will be in a position to sign contracts as soon as we complete.

HCD15 – Buckton View

Completion of the site purchase occurred on Friday October 6th.  We have finalised the contract price and documents have been issued to our main contractor for execution.  Detailed design will commence next week with a start on site expected by the end of November.  In the interim we will be satisfying pre-start planning conditions, agreeing materials and placing orders for services.

HCD14 – Old Library, Frodsham

We have completed the purchase and also finalised the specification and appointed our main contractor.  A start on site is imminent and we will be able to provide a detailed programme during our next update.  Following local press coverage we have had strong interest in the project with three potential purchasers waiting to see a start on site.

HCD13 – Coppenhall

As of 4th October the first floor has been constructed for plots 1 & 2 with the roof expected to go on by the end of the week.  Plots 3 & 4 foundations are complete and the slab has been poured.  Timber frame will start erection next week!  Setting out of plots 7-10 has been done and foundations will be excavated next week.  We are aiming to have the show flats available Feb/Mar 2018.

View the houses for sale on Rightmove

View the latest Coppenhall photos

View latest site video

HCD10 – Bollin Heights

Bollin Heights phase 1 (the first 24 apartments) is now moving into its final programmed few months on the build. We currently have the roof off on apartments 26 and 27 and they will soon be back to being water tight. The extension is moving forward well (despite delays caused by brick laying contractors) after Kingstone found and appointed a new sub-contracting firm to build the super structure. The current programme shows the extension super structure being completed in November.

Legally we believed that we had a complete right of way to bring new services (Including water and electric) down into the building through the neighbouring property. This turns out to not be as black and white as we were advised, which now requires us to re-design a work around. We now will be using a water tank and pump system to service part of the building. This work should be complete within the next 5 weeks and we will then have all the essential services into the building ahead of first occupation. However, we are still negotiating the supply of fibre-optic broadband and removal of the bollards.

Sales have continued to progress and Sebastian’s estate agents are receiving plenty of enquiries; however they have suggested some fresh marketing would help to secure the sales of the final few properties, so we are currently arranging this.

See latest Bollin Heights photos

HCD7 – Brundred Farm

After considering all options we have decided that the best route is for us to develop the site ourselves into two luxury houses that local agents believe will sell for upwards of £1.3M each.

We are planning to launch the crowdfunding campaign for the project shortly.

HCD5 – Bank Chambers

We now believe we are into the last 8 – 10 weeks on site at Bank Chambers. We have just overcome a 6-month battle with Stockport building control over the initial notice for building regulations, which has now been approved. However, on top of this being a generally difficult build partially due to the listed status, this has caused a completely uncontrollable level of delay. We were also let down at the last minute by our preferred roofing contractor meaning we had to delay stripping off the roof and finishing the two attic flats.

On a more positive note we are starting to see the flats take shape and they are looking fantastic. The contractors are working extremely hard and being meticulous about the sensitive final finish for this listed building.

The below pictures show that this project is moving into the final stages.

See latest Bank Chambers photos

HCD4 – Gratrix Park

Two families have now moved into Gratrix Park and both have declared themselves extremely happy with their new homes. We are making an effort to now deliver plots 10, 11 & 14 within the next 3 weeks. We have revised the time frame on the remainder of the project, which will ensure we keep the same level of quality up with the new homes. Realistic time frame for this project will mean we will be off site by the end of February 2018.

The internal project team working on this development are doing a rigorous process of pre-snagging & checking of the final finishes post sign off from the building inspector and warranty provider.

The below pictures show another a mixture of plot 13 & 14, which are the first two semi-detached properties that will be completed.

View latest Gratrix Park photos

HCD3 – The Woodlands

The build programme is on schedule and the show house should be ready in early January. Due to the Building Control and Yorkshire water not accepting the initial design for the site drainage, we have had to re-design it, which has increased costs; however we believe this issue is now pretty much resolved, so shouldn’t further slow progress.

We have had our help to buy application accepted for these properties, and as before we are selling all houses freehold, which will hopefully attract further buyers. However, the key to the sales in Rotherham is the show house, which cannot be built until all utilities and services are in place.

View the latest Woodlands photos

HCD2 – Alderley Edge

The development at Alderley has stalled slightly over the last few weeks, as the steel work contractor we use for Alderley Edge was finishing off the roof at our Bollin Heights development, which has led to a delay of about two weeks with regards to Alderley Edge. However, the work is due to commence on Monday 9th October.

We have an application in for two garages to be added, which will make a total of four and we have the support of the local planning authority for this. The decision on this is due in 5 weeks. We have appointed an interior designer to assist with the finishing of the communal areas and also advise on kitchens and bathroom design.

The project is still on track and we do have significant sales interest, however our sales agent has advised that finishing the externals will be the key to securing the final sales.

One of the properties is currently reserved.

Those investors in Phase 1 and Phase 2 of this development who wished to exit the investment have been repaid their capital and interest.

The pictures below show the external progress.

View images of the Alderley Edge development

HCP156 – Station Road, Marple

We have had a few positive viewings, who gave good feedback on the house, but unfortunately they have only just put their properties on the market and until they receive an offer we cannot move forward with any of the potential buyers.

We are also looking at marketing the property with an online sales agency, on a no sell no fee option, and we will then attend the viewings to get a better understanding of buyer’s expectations/views.  This will also reduce agency costs.

House Crowd News – September 2017

Hello

“I love the British Summer. It’s my favourite day of the year.”

And, luckily, we chose that day to have our staff family fun day with fantastic woodfired pizzas.

Click here if you would like to see our team (and kids and dogs) enjoying themselves.

Ignoring the awful weather that made up the rest of August, it was another surprisingly bright month at The House Crowd, despite the entire world seemingly being on holiday for most of the time.

We completed more sales on Regent Street (which was our first ever new build development) and all investors have now been paid out with the interest as stated.

This is an email we received from John Gurnhill, in Nottingham, who has been with us for several years and was one of the investors in Regent Street:

“Thank you for the 15.97% total return on my peer to peer loan. I have reinvested most of the capital and interest into a further short term loan. Keep them coming. Thank you”

It’s always nice to know people appreciate what we do.

I was reflecting during the month on what we have achieved over the last five years. Our proudest achievement is the community of loyal investors we have built up – 96% say they would recommend us to friends and family (and many do)… and it’s always nice to meet people face to face, as we did in Bristol recently, but purely in terms of fundraising I realised that…

  • In 2013, we passed £1M in funds raised.
  • In 2015, we had our first £1M month
  • In 2016, we had our first £1M week
  • In August 2017 we almost (but not quite) had our first £1M day.

We fell short by just a few thousand pounds, but it really struck home how incredible it is that we have created such an attractive and popular investment model. It has far surpassed what I originally imagined. So a huge thank you to all those who continue to support us and to our client account/ investment team: Clarissa, Nigel, David and Damian who have helped build strong relationships with our clients. They do a fantastic job so feel free to contact them if you ever have any questions – they are always happy to help. David heads up our London office and is available to meet face to face for those who would like to do so.

We will be having an open day on November 1st where you can come in and meet us at our offices. Email invites to follow next week.

Anyway, back to business – if we almost reached £1M in a single day in August I reckon the team can definitely do it in September – so I will be cracking the whip over the next few weeks – hee, hee, hee!

It should be possible as we have at least two top notch development projects being released over the course of the month plus another round of funding for No. 10 Alderley Edge. The webinars we have done for past developments were such a success that we will be doing them for most developments now. If you missed the Micklehurst Road webinar you can access a recording of it here.

The webinar for our next development is scheduled for Wednesday 20th September at 7pm. Click here to register.

Anyway that’s all from me this month. Now everyone else is back off holiday, Clarissa and I are off on ours. Yippee!

Performance Statistics: August 2017

Performance Statistics: August 2017

Please see below for our repayment stats for August 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.

August 2017

  • Projects and loans paid out against = 36
  • Total value of dividends and interest paid = £115,288.91
  • Total value of capital repaid = £475,000.00
  • Total number of investors paid = 1,074

Total for 2017 So Far

  • Projects and loans paid out against = 201
  • Total value of dividends and interest paid = £948,178.97
  • Total value of capital repaid = £5,592,307.39
  • Total number of investors paid = 5,706

Cumulative (from January 2013)

  • Project paid out against = 635
  • Total value of dividends and interest paid = £2,083,803.97
  • Total value of capital repaid = £10,598,027.39
  • Total number of investors paid = 14,204

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

 

Development Update – September 2017

Please find below the latest updates on all our ongoing developments as of the beginning of September 2017.  There are also links to the latest images for most of the developments which gives you an idea of the progress that is being made.

Please note these updates are for keeping you informed on the progress of the development itself.  Most of our development loans have estimated repayment dates and are dependent on the development being complete and all units sold, and a number 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.

HCD14 – Old Library, Frodsham

There has been a slight delay with completion on purchasing this property due to lawyers (and the staff) being either on holiday or incapacitated. We expect to complete the acquisition by the end of this week (9th September). This hasn’t stopped us making good progress in the background; we have chosen our contractor and they have appointed both an architect and an engineer to progress the detailed design work and satisfy the pre-start conditions. We have also received a number of approaches from prospective purchasers for the finished units.

Once the property purchase is complete we will be able to advise all investors of their interest calculation start date.

HCD13 – Coppenhall

As you may already know, work commenced on August 14th, 2017. Following our last video – there will be another later this week – levels have been set for the plots, road and drainage.  Kerbs to the road are being set and foundations have been dug for plots 1 & 2.  The timber frame has been designed and off-site manufacture is underway. Art work for the hoardings has been finalised and Justin on our development team is meeting with Stephenson Browne this week to plan the launch of the scheme for sale (we already have a buyer that wishes to reserve).

View the latest Coppenhall photos

View the video filmed August 2017 showing the site

View the latest video of the site as of 6th Sept 2017

HCD10 – Bollin Heights

All planning is now in place and all work scheduled in to complete the project at Bollin Heights. We are confident about being off site by April 2018.

Sales have continued and we have 24 apartments sold, so only 8 left to sell on the entire development. Currently we have 9 apartments finished, 8 apartments are between 70 – 80% finished and 7 are 40% are the way there. The final 8 apartments in the extension will be delivered by April 2018.

The development is receiving a lot of attention from potential buyers, businesses and even local developers, so we do feel that despite any setbacks we have had we are now confident of selling all the remaining units, keeping the build on schedule and having 32 happy buyers!

Photos are available below, including 4 recently taken professional shots.

View Bollin Heights photos

HCD7 – Brundred Farm

The Brundred Farm planning appeal has been allowed which is excellent news.

We will now be considering how to move forward on this and either develop the site or sell to another developer with planning and take the profit.

HCD5 – Bank Chambers

The Bank Chambers development is steadily progressing, but over the last 4 weeks we are still having issues with building control agreeing to the layouts of the apartments and the level of fire protection required. This has had significant knock on effects, as we have not been able to close off apartments or finish the first fix electrics, as we weren’t sure if we would need to make changes to what had already been done. You will see from one of the images below we have been obliged to fit a sprinkler system, which was not an original requirement so was not in the budget. However, we have made progress and have negotiated a conditional exchange, based on:

  • Water calculation
  • Water consumption to be confirmed as max 125l/s per person
  • Pre-completion sound testing required
  • Confirmation that detection within kitchens is of the optical smoke type
  • Confirmation that water mist system is designed in accordance with relevant BS

Due to these delays, some of the sub-contractors we had lined up to carry out work have had to move on to other jobs and cannot fit us back in for a couple of weeks, thus our completion schedule has moved back. We are constantly updating the buyers and ensuring that despite the delays they kept up to date with what is happening.

You will be able to see in the images linked to below that we have now put the new stairs in and we are starting to form the attic apartments.

View the latest Bank Chambers photos

HCD4 – Gratrix Park

5 of the properties are now ready to complete on the sales as soon as the utilities are connected.  We are getting closer and closer to our first completion at Gratrix Park and currently we should be serving our first completion notice on Friday. The delay on the first plot was caused by an issue with getting the utilities connected that is now in the process of being resolved. Despite the issues caused by delays to the utilities being installed, we expect the buyer of Plot 12 to move in at some point the week beginning the 11th of September. Plot 12 will be quickly followed by plot 13, 14 and 11.

Our ground workers and landscapers have worked hard to make up time after the major delay that was caused by United Utilities on the sewer diversion, and the site is really taking shape. We now believe we are in a good place to be completely off site by February 2018 if not before.

View latest Gratrix Park photos

HCD3 – The Woodlands

The Rotherham site is moving at a good pace and we are about 6-8 weeks away from having the show house ready. Sales have slowed over the summer period, which is to be expected with the school holidays. Our estate agent Sebastian’s have indicated that the show home will increase the number of enquiries, so we believe this is key to sales continuing.

We will soon be starting the utilities connections for the site and laying the major site drainage, so we are still on course at the minute to have our first buyers in by Christmas.

View the latest Woodland images

HCD2 – Alderley Edge

Progress has been steady over the last month, but as the pictures linked to below will show we are now putting the final floor on this development and soon we will be doing the seal for the roof. You can almost see what an amazing panoramic view the penthouse will have of the Cheshire countryside. We are currently dealing with multiple kitchen and bathroom providers, plus taking advice from our interior designer to ensure we get the truly opulent look and feel that was originally planned.

As originally planned we were going to sell this apartments off plan and after 4 days of being live on Rightmove we have taken our first reservation for flat number 2 which has been sold for £899,999, substantially over the originally anticipated price. We have considerable amount of interest in the other flats and we have multiple viewings lined up.

We do still have one planning application going through for two additional garages, and we are confident of winning this.

All in all, a very positive month for Number 10, Congleton Road and we expect to have all units sold before the end of the build!

View the latest Alderley Edge pictures

HCD1 – Regent St.

All investors have now been repaid their capital and received their interest as all the properties have been sold subject to contract.

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.