Your capital is at risk and investments are not covered by the Financial Services Compensation Scheme (FSCS).

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Your capital is at risk and investments are not covered by the Financial Services Compensation Scheme (FSCS).

Bridge Street, 1st Charge Loan

15-17 Bridge Street, Stockport


£150,000

Funded

£150,000

Total Fund

£60,000 minimum raise

Term (Months)
8

Target Interest Rate (p.a.)
12%

Strategy
1st Charge

Minimum Investment
£500

Debt Deal
IF ISA
Projected returns are an estimate. Returns may go down or up based on the future market value of the property and rental values achieved.


Key Points


  • Development of 6 residential units

  • 8 Month term. Min Investment £500
  • 12% p.a. Target Interest Rate
This loan is to facilitate the completion of a conversion of the first, second and third floors of this Grade 2 Listed building into 6 residential units. 

The project, which is already in progress, will offer 3x one bed apartments and 3x two bed apartments located within a short walking distance of good quality facilities and amenities.

The conversion is well underway with all plumbing and electrical work completed and preparations are being made to start marketing.

The loan is being made in partnership with Funding Secure as part of a total loan of £437,000 and it has the benefit of a 1st charge over the property, a debenture over the SPV and a Personal Guarantee.

This is the second development from Elliot James Property Limited to be funded by CrowdLords. Their first project was completed successfully with Bonds being redeemed on time and at the agreed rate..

This Grade 2 Listed building was originally used as a Bank, but in more recent times the upper floors have been used for retail and business use.

It is located on the junction between Bridge Street, Warren Street and Market Place in the Town Centre and within a short walk of Stockport’s covered market

The conversion requires little structural work, with all load bearing walls remaining in place and being used to define the units. Some work was required to the roof and there were patches of damp that needed to be addressed.

The conversion will deliver 3x one bed flats and 3x two bed flats, the smallest being 387 sq ft and the top floor flat is 804 sq ft.

Stockport is a large town in Greater Manchester, 7 miles south-east of Manchester city centre. It is one of the North West’s most successful business locations, benefiting from a significant amount of regeneration and local investment from the council. The town supports a diverse economy and over the next decade, ICT, construction, administrative and support services, professional, scientific and technology, arts, entertainment and recreation are expected to be the borough’s high growth sectors.

The last 12 months have seen significant progress in delivering Stockport Council’s ambitious £1bn regeneration plans for the borough.

  

Projected returns


Fixed Return Debt Investment 
  • 8 Month Term
  • Bond Issue: £150,000
  • GDV: £680,000***
  • Loan: £150,000*
  • Maximum LTV: 75%**
Issuer: CL Number Twenty Eight Limited
  • Number of Bonds available: 300
  • Value of Each Bond: £500
  • Security: 1st Charge
  • Projected Fixed Return : 12% p.a., minus basic tax rate deducted at source
* Excluding Fees and Interest 
** Including Fees and Interest
*** GDV is based on 
a RICs valuation. 


Income is not guaranteed and there is a risk of capital loss. Please see pages 9 and 10 of the Investment Summary for further information about risks

Property name: 15-17 Bridge Street

Address: Stockport

Property type: Flats and Houses

Property age: 1900

Market type: Young families and professionals

Description: Stockport is a large town in Greater Manchester, 7 miles south-east of Manchester City Centre, and is the largest settlement in the Metropolitan borough of Stockport. 

Local Property Market


Stockport serves a large residential population and is also bound by wealthy suburban areas such as Heaton Moor and Bramhall. The town centre benefits from good facilities and amenities. The Merseyway Shopping Centre and the Peel Centre between them have branches of most high-street stores. Grand Central Leisure has an Olympic-sized swimming pool, a ten screen cinema, bars, a bowling alley, health complex and several restaurants.

The town is currently undergoing radical transformation, with over £1 billion dedicated to the regeneration of the town centre and dynamic growth. Flagship redevelopments such as Stockport Exchange and Redrock are contributing to the already thriving local economy where over 13,000 businesses employ approximately 124,000 people.

The council is leading and supporting a number of projects aimed at securing the long term future of Stockport town centre. These include:
  • a £7 million investment programme for the Market Place and Underbanks area
  • the development of the £45m Redrock leisure and retail facility
  • investment in Merseyway shopping centre
  • ongoing support for local events and activities
  • a Townscape Heritage Lottery bid of £1.8m for Stockport’s historic Underbanks area
   

Key Terms


Issuer: CL Number Twenty Eight Limited registered in England and Wales with company number 11577019 whose registered office is at Lance Levy Farmhouse, Wildmore Lane, Hook, Hampshire, RG27 0HB
Amount 300 Bonds of nominal value of £500 each
Target Interest Rate: Projected 12% per annum, simple interest (basic rate tax deducted at the source)
Interest Payment All accrued interest to be paid in one lump-sum on the Maturity Date
Default Interest Rate 3% above the Interest Rate, but subject to recovery of the same under underlying Loan
Maturity Date 8 months after allotment
Minimum Subscription1 Bond
Purpose
The proceeds of the Bond issuance shall be used by the Company to participate in a Loan as a lender to Elliot James Developments Ltd as part of a development loan, to complete the development at 15-17 Bridge Street, Stockport, SK1 1XR
Security  The Company shall secure its loan to Elliot James Developments Ltd by way of a fixed and floating debenture over all the assets and undertakings of Elliot James Developments Ltd along with a Personal Guarantee from the Director
Documentation  Bond Instrument and this Term Sheet
Governing LawEnglish


Summary of Projected Returns


Investment Period 8 Months
Target Total Return 8%
Target Annualised Return  12%
Returns not guaranteed

CrowdLords Development Analysis


The blocks shown in the "Risk Analysis" chart illustrate the CrowdLords Risk Rating. It shows where the investment lies on our internal Risk Return Profile. It is our opinion only and should not be taken as a recommendation. 

We rate Risk across 5 parameters and grade them as being A, B, C, D or E. A being lower Risk according to our criteria.

We have given this project a score of A, which we believe reflects lower returns balanced against generally lower risk. You should judge the risk for yourself using the information provided and your own investigations.

 

CrowdLords Risk Rating

We include a CrowdLords Risk Rating to illustrate where the investment lies on our internal Risk Return Profile. Where risks are higher it is usual to expect a higher potential return and this is designed to aid quick comparisons only. It is our opinion only and should not be taken as a recommendation. You should judge the Risk for yourself using the information provided and your own investigations to form your own opinion.

We rate Risk across 5 parameters and grade them as being A, B, C, D or E. A being lower Risk. The five areas we grade are:
Market Sensitivity – the less the return is impacted by changes in Market prices, the lower the risk
Cost Sensitivity – the less the return is impacted by any increases in cost, the lower the risk
Time Sensitivity – the less the return is impacted by any extensions to the time line, the lower the risk
Minimum Preferred Return – the higher the minimum preferred return as a proportion of the projected return, the lower the risk
Track Record – the greater the experience of the Developer, the lower the risk.


We combine these into a weighted rating between A and E and show how the Risk / Return compares with what we would expect. 

About the Sponsors


About Elliot James Property Limited
Elliot James Property is a father and son team established by Martin Webb in June 2015. Starting small they purchased, refurbished and sold residential property.  In 2017/18 they started acquiring larger commercial buildings to convert into residential accommodation.

Case Study
Elliot House, Park Green, Macclesfield
The property is made up of three, two-storey Victorian terraced buildings previously comprising a ground floor restaurant, a separate retail unit and upper floor residential accommodation.  The property was purchased in 2017 and converted into 6 self-contained flats. The property was structurally sound and the work mainly consisted of internal alterations and external decoration.  The completion of this project was funded by CrowdLords and investors have been repaid on time.

Property details


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