Structural Remedial Project

Project Overview 
The project involves the renovation of a 3-bedroom link-detached property in Chelmsford. The property is currently in need of structural remedial works. A local structural contractor, who has previously completed work on the same estate, has been engaged for the project.

Project Financials 
▪ Purchase price: £250,000
▪ Development costs: £110,000
▪ Upfront costs: £17,000
▪ GDV: £500,000

Experience/ Project Management 
James Kelly has a background in financial advice and will lead the project financials. His son, Matthew, will project manage the development. With 8-9 years’ experience in construction, including roles as a project manager and planner, Matthew has delivered projects ranging from £10,000s to circa £60 million. His experience spans civils, mechanical and electrical, and large external façade and fit-out schemes, alongside managing commercial aspects and building extensive industry contacts.

Investment Summary:
▪ Looking to raise: £140,000
▪ Loan term: 15 months
▪ Interest repayment: 20%PCA (to be repaid collectively upon completion of works and sale of the property.)
▪ Security:2nd charge on development 
▪ Exit and repayment plan: Advertise on open market with local estate agent. As well as advertising wihtin the Sourced network.

If you are interested, please do not hesitate to reach out.