THE OPPORTUNITY
Project summary - Development opportunity in East London
Share price - £5,000
Number of shares issued - 280
Projected return on investment - 85%
Expected completion - Spring 2018
THE PROJECT
Mixed
residential and commercial development site in the heart of Hackney
- Potential
for 9 residential units
- Potential
to double the existing commercial space
- Opportunity
to secure and update the home of local St. Matthias Boys Club
East
Eight and London Central Developments (LCD) have exchanged on this
prominent
site in the lively area of Dalston, Hackney. The building has been
the
home of the St. Matthias Boys Club for the past 49 years. East Eight and LCD
will be working with the club to develop the site and secure their future in
Dalston.
THE PROPOSAL
The
proposal is to rebuild the outdated site to accommodate a 4-5 storey building
of architectural merit. The plans incorporate an extended basement area for The
St. Matthias Club while maximising commercial space on the ground floor. Based
on the surrounding architecture and successful discussions with planners, the
developers believe they can achieve in the region of 10,000 sqft of residential
space, enough for at least 9 residential units plus amenity space.
Hackney,
and particularly Dalston, has experienced rapid growth over the
past
couple of years. Spurred by the 2012 Olympics, improved transport links
with
the arrival of Crossrail and better quality housing stock, more and more
businesses
have moved into the area. House prices in Hackney have outgrown
every
other area in the UK with an increase of 939% over the past 20 years.
Despite
the cooling off in the housing market, prices in Hackney continue to remain
buoyant.
Summary of Raise
Purchase Price - £2,800,000
Total Costs - £4,678,100
Final Projected GDV - £8,365,052
Projected Profit on GDV - £35.9%
ABOUT LONDON CENTRAL DEVELOPMENTS
As
the development partner of East Eight, London Central Developments (LCD) is a
joint venture
between Nicole Bremner and seasoned property developer Avi Dodi.
Together they develop stunning properties across London that people aspire
to
live in.
Design
is at
the forefront of LCD’s
developments.
Working with carefully
selected design partners, LCD creates buildings that are architecturally unique
and imposing.
PRE-PLANNING UPDATE
We are currently working on the
pre-planning application with the goal of submitting this within 8 weeks. Some of these documents are available to download in the documents area for this opportunity.