Loan #699293 Heaton Chapel, Stockport, SK4 5BU, United Kingdom - Residential Refurbishment and Conversion into HMO

Property location
17 Victoria Grove Heaton Chapel Stockport SK4 5BU United Kingdom

Executive Summary

Bluetouch Ventures Ltd brings another exciting opportunity to the platform's investors. They are looking to raise funds against a large 4-storey Victorian property on a tree-lined private drive in the highly desirable South Manchester suburb of Heaton Chapel. This loan is set up as a follow up on the first Bluetouch Ventures loan. The first loan was specifically for the purchase and planning of the property, this one is for renovations and building.

This raise is to fund the construction phase now that the purchase is complete financed with loan 670579 with works due to commence immediately in the New Year. The project developer will carry out a complete refurbishment along with a single-storey extension to create a large circa 3000 square foot, 8 bedroom HMO.

The project benefits from an onward sale pre-agreed to one of their corporate clients. The developer source and acquire properties before completing any necessary works and handing them over. The sale has been agreed for £975,000 on completion of works, providing excellent security on exit.

The project's total cost, including purchase and funding costs, is £835,000 with a healthy net profit of close to £140,000 and represents good value for an investor to secure a healthy, low-risk return on a project with a pre-agreed sale. Bluetouch Ventures Ltd expects to complete the program of works within 6-7 months, allowing two months flexibility on the proposed schedule.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 230,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €230,000.00
  • Profit share 0.00%
  • Term 9 Months
  • Payment frequency 1 months
  • Loan purpose Bridging
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 130.0%
  • Loan To Value (LTV) 76.9% i
  • Location
    United Kingdom
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