What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
GDV£8,345,000
Profit£1,900,655
ROCE30%
Purchase £ £51,500
Property description
Strategy: Development
A 16 unit development in a beautiful area of the Isle Of Wight. Comprising of affordable and executive homes, this development has been designed with the local area architecture in mind and the local area amenities taken into account.
Close to local shops and the local school, this development is in a perfect position for both families and retirees to enjoy the local area. With Ryde as the closest town and only a short drive or public transport to Newport, the capital of the island.
The financials:
▪ Purchase price: £780,000
▪ GDV : £8,345,000
▪ ROCE: 30%
▪ Refurb costs: £5,250,400
Full funding has been approved for the development and partial of day 1 net release. Looking for funding for a joint venture on the net day 1.
Investment Summary:
▪ Minimum Investment £25,000
▪ Total Investment Required £600,000
▪ Return: 20% per annum; if full investment is given then the return can be negotiated.
▪ Security: Second charge behind the main funder. Security is listed on the land. Collateral Warranty will be sought on the construction group to mitigate any issues.
▪ Interest: Interest is fixed but passive monthly will be considered.
An experienced construction team is in place and all logistics have been assessed for supplies to the island. 18 month build plan including sell out of homes.
Sourced reference: 835171438613424
Due diligence
Full costings report has been produced and a month by month cash flow report has been produced.
Location
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
GDV£8,345,000
Profit£1,900,655
ROCE30%
Purchase £ £51,500
Sales Agent
Steve Moyse
Meadow View (Norwich) Ltd
Smart support to move your deal forward
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network