The Former Bishops Site, Cambridge

Investment Summary

• OVERVIEW – Investors in this opportunity will fund the refinancing of the existing debt on the freehold Site, known as Land and Buildings on the West Side of Cambridge Road, Impington, Cambridge. The land has planning permission approved to construct 38 residential apartments, each with their own private amenity space and car parking space.
• TERM –The estimated term for this investment is 6-12 months. If the loan is not repaid by the end of the estimated term, returns will accrue on investments for a further 12 months from the end of the estimated term up until the hard stop date (March 2025).
• PLAN – The Borrower will use CapitalRise funding to repay the existing debt on the Site. Full planning permission has been granted to construct 38 residential apartments and the partially below-ground car parking, cycle, and refuse storage, hard and soft landscaping and associated infrastructure. During the loan term, the Borrower intends to sell the Site with the benefit of planning, in order to repay the CapitalRise loan facility. 
• LOCATION – The land is located within the village of Impington, to the south of the main amenities of the village. Impington is well served in respect of local amenities, with a convenience store, Café, and a pub. In the wider local area of Histon, there are a range of shops and facilities, including supermarkets, chemists, a bank, a doctors' surgery, a dentist, a library and a fine selection of pubs and restaurants. The surrounding area of the land is a mixed commercial and residential area. An industrial business hub, Cambridge Vision Park, is within walking distance of the land. This hub is home to numerous employers, such as Barclays Wealth Management, Coutts and Pegasus Group.  BUPA Spire Cambridge Lea Hospital and Impington Village College are in close proximity to the Property, with junior and infant schools nearby. Cambridge city centre is located approximately 4 miles from the Property (17 min drive).

• SITE – The Site is currently vacant, the original buildings have been demolished and is ready for development for any potential buyers with a total Site area of approximately 0.57 acres. The Site is accessed off Cambridge Road. 
• THE BORROWER – The Borrower is Mitre Property Developments Limited. The UBOs behind this company are experienced individuals within the Real Estate Industry. They specialise in locating residential and commercial development opportunities, researching the viability, dealing with the planning and legal issues, marketing and the design of these projects along with the project and development management. One of the UBOs is also a chartered surveyor, with experience in providing consultancy services in both the private and public sectors. 
• YOUR INVESTMENT – CapitalRise investors will benefit from a First Legal Charge over the Site, a Personal Guarantee limited to 25% of the total advance and First Ranking Debenture over the borrower, Charge over shares of the Borrower. In the event of a forced sale of the Site, CapitalRise investors would recover their investment first and if the borrower is unable to repay the loan, CapitalRise will seek to force the sale of the Site on behalf of investors. If sales are achieved the value would need to be less than 60% of the anticipated market value before your invested capital and accrued return are at risk. 
• EXIT PLAN – In terms of exit, the Borrower intends to sell the existing Site with the benefit of planning permission, in order to repay the CapitalRise loan facility.