The Granary, Oxford

Investment Summary

• Background on this project: This project was previously launched on the CapitalRise platform under a different name (Clarks Row, Oxford), this loan was provided to the borrower to fund the development of three new townhouses in central Oxford. Two of the three units have reached practical completion and have subsequently been sold and any investors who initially invested under the original opportunity have been repaid in full.  

• OVERVIEW –This opportunity will fund the development to practical completion of the one remaining new build town house in the heart of the historic city of Oxford. The property will benefit from a roof terrace with panoramic views across the city. 
• LTV – This is our second lowest loan to value at exit to date, at 34% (the day 1 LTV is 33%).  
• TERM – The estimated term for this investment is 3-6 months (July-October 2021). 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 (October 2022). 

• PLAN – The Developer will use this advance to fund development costs to complete the property to a high standard.  This will be the only phase of this opportunity and practical completion of the works, which commenced over 14 months ago is anticipated in the next 6-8 weeks.  Full planning was granted before works commenced and the extent of the quality of finish, design and specification is expected to be of a high standard.
• LOCATION – The site is located just a stone's throw from Oxford University's Christ Church College and a short walk from the river Thames.  It is also within a mile of the mainline railway, with direct transport links to central London.
• PROPERTY – As part of a wider consent planning was granted for this freehold, new build dwelling town house set over 1,679sqft over 4 floors, with 3 bedrooms and 2 reception rooms, the property will also benefit from a roof terrace with panoramic views across the historic city of Oxford.
• EXIT PLAN – Upon practical completion of the Property, the Developer has agreed to sell the property to a connected party.  The sales proceeds will be sufficient to provide an exit for CapitalRise investors.  The Developer has shared an ‘approval in principle’ mortgage offer from the purchaser, which is sufficient to exit CapitalRise in its entirety.  In the event that the sale does not proceed the Developer will seek to switch the loan onto a developer exit facility with another lender.