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OVERVIEW
Project: Spring Lane, Lambley
Executive Summary
Established in 2018, Crossover Property Group specialises in both property investment and developments, alongside consultancy solutions. As a small team with over 10 years experience in the construction and engineering industries, they offer a wide scope of services, assisting with all facets of the build program. Through a trusted network of professional partners, they deliver works within both the residential and commercial sector, having completed over 50 varied projects throughout the East Midlands.
Crossover Property is offering the crowd investors an opportunity to invest in this development project - Spring Lane, Lambley, the conversion of an existing commercial premises into 5 new build bungalows. Full planning permission has been granted for the build.
Project Details
Currently operating as a kennels and cattery, there are a range of single-storey kennels and cattery buildings on site.To the west of the site is a dwelling, associated with the kennels and cattery business. The site is on the eastern side of a private lane, which itself travels in a northern direction, from the north side of Spring Lane.
Neighbouring properties are mixed use including caravan storage, cattery, agricultural and residential. The site lies within the Green Belt and is a brownfield site.
Each proposed dwelling will be 1280 sqft (119 sqm) with parking for 2 cars and south facing gardens. The plot is situated around 100 - 150m from the main road.
Project Location
The property is located in the village of Lambley.
Lambley is a charming village located in the north of Nottinghamshire, England, situated just 7 miles northeast of Nottingham City Centre. As a location it offers a peaceful and idyllic rural lifestyle, while still being within easy reach of urban amenities with access to the A60 and A614 roads, as well as regular bus services to Nottingham and other nearby towns.
Spring Lane is a highly desirable road, with terrific access to the countryside, often viewed as a ‘forever home’ location. Gedling Country Park is also within short walking distance, with the new Colliery Way a short drive away.
Investment & Exit
The project is offering a projected 30% ROI on a 16 month project (22.5% annualised) in return for a maximum raise amount of £250,000 investment from the crowd. Crowd investors will receive the projected return by way of a priority share and the estimated 30% return on the maximum investment amount of £250,000 is £75,000. This figure is 13.81% of the projected profits amounting to £542,987.
By way of Exit:
The plan would be to have built and sold all the units by December 2024 effecting an exit for the investors. A secondary exit would be to refinance and let out the properties.
One or more of these exits may be used in combination to achieve the aim of paying back the investors.
FINANCIALS
The total expenditure and costs for the project are listed above.
Full details can be reviewed in the Equity Offer Document.
James Cross
Director
James has been the Managing Director of Crossover Property for more than five years mainly focusing on property development projects. From reviving tired and run down residential units, to converting commercial buildings to residential, to new build developments and consultancy, James has gained a wealth of knowledge and experience across the gamut of property development genres.
With a background in engineering and sales, James has been able to apply his analytical and problem solving skills to the construction and real estate industries. His Mechanical Engineering qualifications, experience in numerous engineering fields and potential RICS membership, has given him an excellent grounding in the skills required to approach the business using critical thinking methodology and pragmatism.
Since its inception, Crossover Property has worked on over 50 projects from BTLs, HMOs, Commercial to Resi, New Builds, as well as helping to structure deals and advise on tenancies.
With a background in engineering and sales, James has been able to apply his analytical and problem solving skills to the construction and real estate industries. His Mechanical Engineering qualifications, experience in numerous engineering fields and potential RICS membership, has given him an excellent grounding in the skills required to approach the business using critical thinking methodology and pragmatism.
Since its inception, Crossover Property has worked on over 50 projects from BTLs, HMOs, Commercial to Resi, New Builds, as well as helping to structure deals and advise on tenancies.
Stephanie McDowell
Project Administrator
Stephanie is the newest member of Team Crossover and our Project Administrator.
With experience in Operations Management, she helps our team with day-to-day tasks and implementing our company vision by keeping projects on track and ensuring all documentation is up to date.
Alongside this, she has her own goal to return to Education to pursue a Masters degree based in the Construction Sector
With experience in Operations Management, she helps our team with day-to-day tasks and implementing our company vision by keeping projects on track and ensuring all documentation is up to date.
Alongside this, she has her own goal to return to Education to pursue a Masters degree based in the Construction Sector
Justin Gaunt
Project Manager
Justin is our accomplished Project Manager with extensive experience in the construction industry. He has two construction-related degrees including a BA in Architecture and an MSc in Project Management from Nottingham Trent University.
With a range of skills gained from both his experience and education, Justin brings a high level of attention to detail and superb project co-ordination to all our commercial and residential projects. Justin's dedication to this industry is an asset and he is currently undertaking further study to obtain Chartered status with RICS, a testament to his commitment to develop in the construction world.
With a range of skills gained from both his experience and education, Justin brings a high level of attention to detail and superb project co-ordination to all our commercial and residential projects. Justin's dedication to this industry is an asset and he is currently undertaking further study to obtain Chartered status with RICS, a testament to his commitment to develop in the construction world.