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

Read our full Risk Warning

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

Foxley Lane, 2nd Charge Loan

44 Foxley Lane, Purley


£105,000

Funded

£105,000

Total Fund

£85,000 minimum raise

Term (Months)
18

Target Interest Rate (p.a.)
15%

Strategy
Mezzanine Finance

Minimum Investment
£250

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


  • Popular Commuter Location

  • 2nd Charge Loan, 18 Month Term
  • 15% p.a. Target Interest Rate

This is an opportunity to invest in a Bond whose proceeds will be used as a loan to facilitate the acquisition and conversion of a semi detached residence into 6 self-contained apartments in a popular area of Purley, near Croydon.
 
The three storey building was originally constructed around 1910 on a sloping site with ample parking to the rear accessible off Plough Lane.

Requiring part conversion and part extension, the completed development will provide:
  • 3x 1 Bed Apartments
  • 2x 2 Bed Apartments
  • 1x 3 Bed Apartment
  • Shared private parking 
The property is an imposing, 1910's, five / six bedroom, semi-detached family residence, located in a much sought after location, within walking of Purley town centre and the railway station. 

The property also benefits from a mature secluded rear garden and a gated parking area to the rear that is accessible from Plough Lane.

The developer will apply for planning permission to convert the property into 6 residential units with the aim of either developing out the site or selling it on with the enhanced planning value. Foxley Lane, and Purley generally has a wide range of similar recent conversions.

Projected returns


Fixed Return Debt Investment 
  • 18 Month Term
  • Bond Issue: £105,000****
  • GDV: £2,215,000***
  • Loan: £100,000*
  • Day One LTV: 77.66%**
Issuer: CL Number Twenty Eight Limited
  • Number of Bonds available: 420
  • Value of Each Bond: £250
  • Security: 2nd Charge, Debenture and Personal Guarantees
  • Projected Fixed Return : 15% p.a., minus basic tax rate deducted at source
* Excluding Fees and Interest 
** Including Fees and Interest
*** GDV is an estimate based on comparable sales (see page 8 of the Investment Summary).
**** 
£5,000 of the £105,000 Bond issue is used to cover legal fees and expenses

Income is not guaranteed and there is a risk of capital loss. Please see pages 11 and 12 of the Investment Summary for further information about risks
Property name: 

Address:
 44 Foxley Lane, Purley

Property type:
 Flat - Purpose built

Property age:
 c1910

Market type:
 Young professionals

Description:
 The property is situated within easy access of Purley Town Centre, Purley Station and easy access to the A23.

Local Property Market


The property lies within a few minutes walk of Purley town centre, a prosperous and popular residential town with a host of high street brands including Tesco, Sainsbury's Local, Costa Coffee and Pizza Express, Laura Ashley, not to mention a varied selection of other restaurants, cafes and designer boutiques.  

Larger retailers such as John Lewis, DFS and IKEA are all within a short drive, located on the Purley Way. There is a good selection of state and private schools including, St Davids, Woodcote Schools, Cumner House, John Fisher, Whitgift School and Croydon High for Girls, all within a short distance.  

Purley also offers a choice of nearby sports facilities including Purley Leisure Centre, numerous golf clubs and the locally respected Purley Sports Club with its array of sports facilities including tennis, squash, bowls, hockey and cricket.
   

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 420 Bonds of nominal value of £250 each
Interest Rate: Projected 15% 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 18 months after allotment
Minimum Accrual Period 3 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 DELFT 44 Foxley Lane Limited to enable it to complete the conversion of 44 Foxley Lane, Purley, CR8 3EE
Documentation  Bond Instrument and this Term Sheet
Governing LawEnglish

*Does not include tax 

Summary of Projected Returns


Investment Period 18 Months
Target Total Return 22.5%
Target Annualised Return  15%
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. 

You should judge the Risk for yourself using the information provided and your own investigations. 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.

 

Projected Capital Returns

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:
The Investment Period – the longer the period, the less the risk of loss
Macro location and market – has the area performed well historically
Micro location – is the property in a good location for rental / sale
Level of Development – the degree of development and the cost / time risks
Track Record – the track record of the LandLord / Developer

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 Joseph Homes
For Joseph Homes, 2008, one of the worst recessions in recent history, served as the perfect platform to start something different. Only homes that were exceptional sold. Driven by a strong set of principles that hold true to this day,  Joseph set about quality homes in places people want to live. Joined by his business partner, Paul, in 2010, they honed their craft in prime central London for a number of years. They soon saw an opportunity to bring their quality of delivery to Greater London at scale, focusing on their fundamentals - design, location, amenity and transport. Ten years later, with a unique team from diverse backgrounds, Joseph Homes is a growing community of people who share the same values to deliver homes to be proud of.
Joseph Rajah - CEO 
Joseph founded Joseph Homes in 2008 after years of serial entrepreneurship spanning property, events and NGO work. Starting his first business aged 14, Joseph is yet to have a ‘proper job’. He considers himself completely unemployable by traditional standards, so has no choice but to be CEO. 

He has steered the ship through turbulent markets, growing the company dramatically in 10 years. With a focus on creativity, innovation and controlled profitable growth, Joseph is working to build on the company’s success over the next five years. 
In his spare time, Joseph works on his cunning plan to have more spare time.

Paul Dipino MRICS - COO 
Paul is a member of the Royal Institution of chartered surveyors and has 25 years’ experience in the property industry. He has experienced the market as an agent, developer and investor which helps him take a broad, strategic view of the industry.  
Paul joined forces with Joseph to form Joseph Homes in 2010. 

As COO, Paul makes sure growth is managed effectively by leading the team to innovate and think differently. He is passionate about doing things the right way, from design through to delivery. This principled approach has led the company to multiple industry awards. 

Paul is a dedicated outdoorsman, and is always dragging his two young children out climbing, scuba diving and camping with him. Weekends see him on the sidelines at Richmond Rugby club wondering why he wasn’t as good as his son.

Property details


If you have a question about this property, please click below and submit a question to us directly.


Log In to ask a question