Currently seeking investors to partner with Store House London on this project.
Requirement of Equity £250,000 to facilitate the purchase and development of land in Swaffield Road into 9 dwellings, consisting of 3 townhouses and 6 apartments with landscaped communal amenity space. This is combined with a senior debt package of £4m.
The proposed development makes in excess of 35% POC (gross of finance), which will enviably net back to around 28%, which in the current climate given how competitive the land market is, is a very strong return.
The site is currently used as a car park for the residents of Earlsfield House, which sits opposite the site. They have sold the site off for development purposes to aid in providing monies for the sinking fund for their freehold block.
SHL has already had early engagement with our architect, planners, ROL consultant and contractor in order to understand the site, its potential and how to mitigate any risk factors.