92 & 94 Beulah Rd

Thornton Heath, London, CR7 8JF

Deal summary

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Property description

Currently two adjoining properties, each with a shop on ground floor, 2 flats over the first and second floors and a garden flat.

The ground floor shops will be converted into residential studios (s.t. planning) leading to there being 8 residential flat units in total:
2 studios | 4No. One bedroom flats | 2No. Two Bedroom flats | Communal Gardens

Shops are all very close on the same street and the properties is 10 minutes from Thornton Heath. Train stations Thornton Heath, Norbury and London Overground Norwood Junction are in close proximity to the house and bus stops are nearby. All this means the property has great rental potential.

Project Exit

This strategy involves CWU's Hybrid Mortgage Model, which means the amount of Crowd investment will be the difference between the total acquisition cost and CWU mortgage that we arrange. Once the property value reaches the Investment Trigger Value (where the property value has increased by 50% in relation to the Total Acquisition costs after the deduction of sales costs), the property will be sold and upon completion the sale profits will be split 50/50 between CWU and the Crowd.

Our 50/50 model means that Crowd With Us only makes a profit from the sale of the property if the Crowd does too. We are in this together from start to finish.

100% of the rental profits after all running costs are paid to the Crowd investors as rental dividends on your shares in the company.

Refer to Yearly Rental Dividend Projection tables within the Financial section of each property for a full breakdown of running costs

Floorplan

Map and Site Location

Planning has been submitted to turn the two commercial units on the ground floor into two additional residential units. All works will be managed by ‘Develop with Us’, a sister company to Crowd with Us, who will contract out the different trades. All expenses have been budgeted for and included in the total acquisition costs and will be closely monitored throughout the works. The budget can be found in the property financials and all expenses will be made available in the annual return.

Commencement of works to the two retail units is subject to satisfactory approval of planning permission from the local authority, so no start date can be given. The works do not affect the six residential units which will be rented out from completion, so the property will continue to receive income and we do not anticipate the works having any major detrimental effect on the investors earnings. Once commenced we expect works to be completed within two months.

Whilst we expect the refurbishment to increase the value of the property, building costs could come in over budget or the project could over run, both hypothetically resulting in an increase in costs. CWU have tried to mitigate these risks by building buffers into the budget to allow for such circumstances. Additionally, the refurbishment schedule allows CWU to impose fines on contractors for any delays.

If planning is not granted CWU will continue to rent out the two units in their current form to commercial tenants.

Financial

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