Loan

Loan #638108 Woore Shropshire, CW3 9RJ, United Kingdom

Property location
Audlem Road Woore Shropshire CW3 9RJ United Kingdom

Executive Summary

Bluetouch Ventures Ltd are looking to raise funds against a plot of land, which the business purchased in 2020, with planning approval for four large detached homes in Woore, Shropshire. The permission came with numerous planning conditions that they have managed to discharge over the past 12 months as well as developing a more appealing and valuable proposal for an alternative scheme.  They are now looking to recapitalise the business for the next phase of the development to bring the site to market as a fully prepared and licensed development project with site infrastructure in place.

They have already funded all architect, engineer and site investigation works along with all ecological, archaeological and arboricultural investigation and reporting required to discharge all pre-construction planning conditions to get the site to the point where it can be sold quickly without obstacles once the new planning approval is granted.

Due to market conditions during the pandemic, this land in Shropshire was obtained for just over £200,000. The site has been valued on the existing planning permission at £529,000 by a RICS surveyor. There is also a new planning application pending decision for an improved scheme which has been valued at between £1,000,000 - £1,100,000 by a local estate agent. Reflecting a significant uplift from the auction price. The funding application is based on the current valuation and LTV will significantly improve on approval of new scheme.

The exit strategy is to have the new scheme approved by the end of 2021, marketing the development for sale in the new year as a whole and as individual plots to appeal to either a small local developer or the self-build market. Expecting to achieve sales at worst case £529,000 on the existing scheme or circa £1m if successful with the revised application.

Bluetouch Ventures Ltd feels the site represents good value for an investor to secure a healthy, risk-free return within 6-12 months as the sale of 2 plots will enable the return of the loan in full.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 486,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €486,000.00
  • Profit share 0.00%
  • Term 12 Months
  • Payment frequency 1 months
  • Loan purpose Bridging
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 106.0%
  • Loan To Value (LTV) 77.6% i
  • Location
    United Kingdom
Latest investments
  • 643360€1,300.002021-10-26 11:32:31
  • 643327€2,000.002021-10-26 10:31:36
  • 643322€100.002021-10-26 10:26:39
  • 643305€100.002021-10-26 10:03:42
  • 643293€10,000.002021-10-26 09:57:58