1 Bartholomew Street Newbury RG14 5LL United Kingdom
Executive Summary
This project is a straightforward renovation project, expected to take just 8 months and with minimal changes to the existing property. Following the renovation, the property will be rented out with a list of potential tenants already lined up.
The property, in the thriving town of Newbury, is currently a vacant mixed-use property. The residential portion will be refurbished as a licensed HMO (House of Multiple Occupation). The residential element has previously been used as an unlicensed HMO so the refurbishment will be straightforward. The developer will also be splitting one of the larger rooms to make an additional bedroom, thus increasing the rental yield. The commercial element of the building will be refurbished by the incoming tenants at their cost. There are three potential tenants lined up for the commercial space and a waiting list of residential tenants for the HMO from the developer’s existing HMO business in the town.
The exit strategy is to re-mortgage onto a long term product once the building is fully tenanted. If the re-mortgage falls short for any reason we have cash reserves to make up the shortfall. If a suitable re-mortgage product is not available we have the option of using bridging finance. As a final exit strategy we can sell on the open market.
Newbury is a market town in the centre of the south of England, sitting at the strategic crossroads of the main East-West route between London and Bristol as well as the main North-South route between the port cities of the south coast and England's second-largest city, Birmingham. It is within easy commuting distance from London, which is only 40 minutes away after a recent upgrade to the local railway route.
Newbury is a thriving and affluent town, benefitting from hosting the headquarters of both Vodafone and Microfocus as well as numerous other global companies. It was also recently included in the top25 'European Cities of the Future list compiled by the Financial Times. Due to all these reasons, it has a consistent demand for both residential and commercial properties.
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No. Investors must be over 18 and must have an approved account, meaning their Know Your Client (KYC) documentation needs to be submitted and approved and have a bank account linked to their account. Country-specific restrictions exist and certain nationalities may be prevented from participation in some investment products. This is to prevent money laundering, tax evasion and other illegal activities, in line with our commitment to regulatory compliance and transparency.
At the moment we only accept EURO for investing in real estate backed loans. We are aiming to accept all currencies, including crypto currencies, like we do for the Max Property Group Share Certificates, but this depends on the regulators.
By Dutch law you are allowed a 24 hour cooling-off period, which means you can either change or cancel your investment during this time without any fees charged. After the cooling-off period you cannot change or cancel your investment. You are still allowed to make a second investment. Multiple investments will be combined in one when a loan is finalised.
Yes, but you will need to have a joined bank account with your partner. If you have a joined bank account, you can request to register a joined account on Max Crowdfund. Once approved, the regulatory limit for investing will be doubled to €160,000.
You can only register a new bank account by making a bank transfer of any amount from that bank account. We only accept bank accounts that are held by you and are in your name.
If you only have one bank account registered, this will automatically be your preferred account. In case you have multiple accounts registered, you can select only one of those to be the preferred account. Funds in your Max Crowdfund Current Account that are not used for a period of more than 60 days will automatically be transferred to your preferred bank account.
When the fundraiser fails to meet their obligations to make periodic payments as defined in the loan agreement, Max Crowdfund will follow up. Periodic updates will be shared to inform investors about the status of the loan. To recover from default, measures like a change of terms can be proposed, but this requires the approval from a majority of all involved investors via online voting. In the worst case scenario the Max Crowdfund Security Agent will execute on the collateral for the loan and distribute the proceeds to the investors.
