This project consists of the purchase of a site with Planning permission granted for 4 x 4-bed new-build houses in Fordham, Ely. An area between Cambridge and Newmarket. Just over 1hr by train to central London.
The project is being carried out by an experienced developer with over 40 years experience in the industry. The developer has been living in the area for the past 18 years and has undertaken various projects from barn conversions to new-build housing developments. The project itself is a small development of 4 reasonably priced units. Demand in the area appears to be favourable. Transport links to London are good.
Reed Design and Build Limited is offering £260,000 debt investment via the Bond promoted by Crowd with Us for the development of 2 Soham Road, Fordham, Ely, CB7 5LB.
Interest on the Bonds is 16% per annum simple interest and will be calculated on a daily basis on the basis of a year of 365 days and shall be payable on redemption of the Bonds. For example, if £10,000 worth of bonds is subscribed for, the daily rate of interest is £4.3836. If in this example the Property Company redeems the Bonds at the end of the term (12 months) this would equate to a redemption amount to the Bondholder of £1,800 interest plus the initial £10,000. An investor holding his Bonds until redemption will receive the redemption amount without any deduction of fees.
Once the development is finished, the completed properties will be sold. The Surveyor has commented in the valuation report that overall, Fordham’s good amenities, relative housing affordability and good accessibility to the East of England road network has seen consistent capital value growth. Whilst short term price movements will inevitably ebb and flow in response to economic signals, policy changes and political uncertainty, the structural prospects for residential development and investment in and around Fordham look stable.
The projected completion time of construction work is January 2020, and hence redemption of the Bonds including interest is anticipated within 12 months from the issuance of the Bonds.