Cash to be Raised For Crosby Cannon Conversion

Stephen Moss / May 22, 2019

A Crosby landmark, former pub and hotel dating back to the early 1900s will be converted into 9 residential flats.

The Crosby is steeped in history and has recently gained planning permission to convert the property.

Local’s will be delighted to know that the acclaimed, historic Crosby cannon is being re-situated in the development and will be made into a feature to show the importance of its history.

Two Sourced offices (Sourced South Liverpool and Sourced South Manchester) have teamed up and are now looking to raise the remaining monies to complete the purchase and convert the public house into nine apartments through our online Peer to Peer Platform.

The self-contained spacious apartments will benefit from the utilisation of the basement space as additional storage for each apartment.

Working closely with local estate agents the scheme has been designed to help the demand of starter homes with a mixture of one bed and two bedroomed apartments in a location that is known for expensive property.

The conversion involves no structural alterations and it is forecasted by the Contractor that it will take no longer than 9 months to complete the work, after the monies have been raised.

Given the location of the property and the local demand, the developers, Mike Hill and Peter Donoghue intend to market the apartments off plan for local residents to purchase and reside.

Mike Hill, Sourced South Liverpool Director said: “Peer-to-peer lending has been growing in popularity over the past five years because there’s been a distinct shift in power as investors realise they can enjoy the returns typically enjoyed by the banks and conclude deals more quickly by calling on a network of their peers. If any local residents would like to invest in a project that is close to home, this is the perfect opportunity. I am local to Crosby myself, and it is important to me to ensure this project is in keeping with the Crosby area and is a high quality development keeping the history this beautiful building has to offer the village.”

Sourced have already raised over £225,000 of the £619,000 target.

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