No. of units: 14
Duration: 18 months
Total funding: £3,696,753
Introducer Fee: £55,451
A very well established and experienced developer in the Thames Valley approached us with a Joint Venture opportunity in Aldermaston. The site had planning permission in place for the erection of 14 dwellings which comprised of 1 no. 4 bed house, 11 no. 3 bed houses and 2 no. 2 bed houses. We jumped at the opportunity to be involved with such an exciting project, purchasing the site as freehold with full vacant possession and ready to start the construction immediately.
It ticked all the right boxes, the location was particularly desirable for young families and professionals, being within easy reach of Newbury, Reading, Basingstoke, Wokingham and the environs. The total GDV for the project was £4,990,000 with an average unit price of just over £350,000 at a price per square foot of £351.
Our one-stop-shop solution meant our partner made real savings, whilst also allowing them to take on more work.
This project was completed very successfully ahead of time and budget. We are now already half way through the second Joint Venture project with the same developer.