Loan

Loan #757466 Cheadle, Greater Manchester, SK8 4PD, United Kingdom

Property location
141 Gatley Road Cheadle Greater Manchester SK8 4PD United Kingdom

Executive Summary

Bluetouch Homes Ltd brings an exciting opportunity to the platform's investors. They are now looking to raise funds against a large, detached property in Gatley, Cheadle, Greater Manchester for conversion into a 9 bedroom HMO.

The Manchester property market is booming and this property is ideally located within Greater Manchester, nestled in between some of South Manchester and Cheshires premium locations of Didsbury, Heaton Moor, Altrichcham, Hale, Wilmslow and Bramhall, only 200 yards from a mainline train station with a direct line to Manchester and is less than a mile from the motorway network connecting Gatley to Manchester City Centre, Liverpool and Birmingham. 

This raise is to fund the construction phase now that the purchase is completely financed with loan #731022 with works due to commence immediately. The project developer will carry out a complete refurbishment to create a 2900 square foot, high-end, 9-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 £1,015,000 on completion of works, providing excellent security on exit.

The agreed sale price of £1,015,000 (€1,218,000) will provide a healthy net profit of close to €170,000 and represents good value for an investor to secure a healthy, low-risk return on a project with a pre-agreed sale. Bluetouch expects to complete the program of works within 8 months, allowing 4 weeks flexibility on the proposed schedule.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 250,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €250,000.00
  • Profit share 0.00%
  • Term 8 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
Latest investments
  • 775482€100.002022-02-04 11:10:03
  • 775474€100.002022-02-04 11:09:35
  • 775461€100.002022-02-04 11:09:32
  • 775459€400.002022-02-04 11:09:32
  • 775458€300.002022-02-04 11:09:32