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£97,461 of £809,278
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£1
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DEAL SUMMARY
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PROPERTY DETAIL

Lanark Student Living Limited is offering £809,278 debt investment via the Bond promoted by Crowd with Us for the development of 200-234 Mayfield Road, Edinburgh.

This project consists of the purchase of a site in Edinburgh and refinance of 2 x adjacent sites already owned by the developer.
The developer has agreed terms with Oblix Capital who will lend £6.195m. Crowd with Us will raise an additional £809,728 via the CWU platform.

The site has planning permission in place for 237 beds at a current valuation of £8.85m. Enhanced planning has been submitted to increase the size by 69 beds making a total of 306 beds, at an enhanced value with planning of £11m. The developer will be working with a Tier one contractor, Meldrum Construction Services with whom they have a prior relationship to build out the scheme.
Once built the projected total GDV for this scheme is £53m with £22m profit.

INVESTMENT STRATEGY

Once planning for the additional 69 beds is secured, the developer will refinance the scheme with Oblix Capital, the senior lender, at 65% LTV and repay the CWU Bondholders early (minimum term 6 months). Considering the developer has already received planning on the two adjacent sites, this is believed to be the most likely outcome.

    Expected Valuation based on £36k per bed therefore 306 x £36k = £11m
    65% of £11m = £7.15m. This should provide sufficient lending to pay out CWU investors

In the event that enhanced planning is not achieved there are four alternate exits:
- The developer is selling a £2.2m scheme with planning for 213 beds in Liverpool, and will use the expected proceeds of £1.03m to repay investors; or
- Commercial Head of Terms have been received for the refinance of a project in Sheffield for £1.65m. The current debt is £1.1m. Expected proceeds of £450k should be available to repay investors; or
- Offer has been received on Canning Circus project in Nottingham for £9.7m. The outstanding debt with AL Bank is £6.1m. Expected proceeds of £3.6m should be available to repay investors; or
- The development of the Edinburgh site will be carried out by Meldrum Construction Services, a Tier one contractor, the borrower has a prior relationship with, having recently contracted them to build out a 108 bed scheme for them 500m down the road . Investors may remain in the Bond for the full 12 month term whilst the project is completed and refinanced or sold.

Mayfield Road
Edinburgh, EH9 3BE
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Mayfield Road
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IMPORTANT RISK NOTE

The value of your investment can go down as well as up. Gross Rent and Dividends may be lower than estimated. You may have to wait until the next five year anniversary of the property’s listing on the Crowd with Us platform for an exit event. See Key Risks for further information.
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PLEASE NOTE

Capital at risk. The value of your investment can go down as well as up and historic performance is not a guide to future performance. Please read Risk Statement before investing.

Crowd with Us (FRN707804) is an appointed representative of Share In Ltd (FRN603332). Share In Ltd is authorised and regulated by the Financial Conduct Authority. Crowd with Us is the trading name of Crowd with Us Limited, a company registered in England No: 9243491. The registered office of the company is Clerkenwell Workshops 27/31 Clerkenwell Close, Farringdon, London, EC1R 0AT.
Neither Crowd with Us Limited, Share In Ltd nor any of their affiliates or group companies provides any advice or recommendations in relation to this website. If you have any doubt about the suitability of any investment marketed by Crowd with Us Limited, or you require financial advice, you should seek a personal recommendation from an appropriately qualified financial advisor that does give advice.
Investments are only available to certain specified persons who are sufficiently sophisticated to understand the risks. Investments in property and unlisted shares carry risk and you may not receive the anticipated returns and your capital may be at risk. Click here to read our Risk Statement.

Capital at risk. The value of your investment can go down as well as up and historic performance is not a guide to future performance.
Investments are not covered by the Financial Services Compensation Scheme (FSCS). Please read Risk Statement before investing.