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Overview – Investors in this opportunity will part fund the site acquisition and subsequent development of two new three-storey detached houses (the properties are referred to as the Property) within the sought-after residential area of Haslemere, a small town in the South Downs.
Term - The estimated term for this investment is 17-20 months. If the loan is not repaid by the end of the estimated term, returns will accrue on investments for a further ten months from the end of the estimated term up until the hard stop date (April 2025).
Plan – The developer will use this phase of funding to assist with the land acquisition - the site is currently empty. Later phases of this opportunity, which will launch on the platform over the coming months, will provide funding for the development phase of the project. Full planning permission has been approved for the development of two three-storey, detached houses set over 2,800 sq.ft. each.
Location – The Property is located 1.9 miles northwest of Haslemere town centre, which is a well-regarded market town in Surrey. Local transport communications are good with Haslemere station providing regular services to London Waterloo in around 50 minutes.
Your Investment – CapitalRise investors will benefit from a First Legal Charge over the property, a Personal Guarantee limited to 25% of the total advance plus cost overruns guarantee, and First Ranking Debenture over the borrower. Investments will always be first in line to be repaid when a payment is made against the loan. In the event of a forced sale of the Property, 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 Property on behalf of investors. If sales are achieved the value would need to be less than 70% of the anticipated market value before your invested capital and accrued return are at risk.
Property – The proposed Property will consist of two mirror image detached houses each containing four bedrooms with views over the South Downs. The properties share an access road. The Property will be finished to a high standard with premium materials used throughout.
The Developer – This Property is being developed by Homes by Harlequin who specialise in development of residential properties in the Homes Counties. Homes by Harlequin have their own contracting, brickwork and design team and the founders have over 70 years combined experience in property development.
Exit Plan – The borrower plans to sell the Property on the open market upon completion. If a sale is not completed within the term the borrower may seek to refinance the CapitalRise debt with another lender.