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Revereum

Property Development Opportunity Sandbach, Cheshire, England

November 2018


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Introduction

Revereum Property Development is proud to present - Waterworks Farms in Sandbach, Cheshire. This development comprises of 12 new build luxury homes situated in picturesque Cheshire East. Pristinely manicured grounds, beautiful natural features, toprated schools, proximity to the town centre and transport links make this location ideal for a family home. Planning has been in the works for several years and was fully granted recently. The approved proposal is for the demolition of an existing two-storey dilapidated dwelling, removal of water treatment storage

and settlement tanks, and construction of 12 two-storey detached dwellings, together with associated car parking and landscaping works, closure of the vehicular access onto Dingle Lane and formation of a new access onto Tiverton Close. The 12 dwellings shall be constructed within 16 months and sold on the market. An analysis of local real estate sales has been conducted and a detailed development appraisal is available.


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Issues

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Ordnance Survey (c) Crown Copyright 2016. All rights reserved. Licence number 100022432


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Headlines

Project Location Land Cost Residential Units to Build Total Liveable Area to Build Total Garages Area to Build Construction Cost (Liveable) Construction Cost (Garages) Build Timeline Total Build Cost Total Development Costs Total Costs GDV Profit GDP (as % of costs)

Sandbach, England £850,000 12 20,615 sq ft 1,996 sq ft £140 per sq ft £80 per sq ft 16 months £2,839,630 £661,417 £4,351,047 £5,465,000 £1,113,953 25.6%


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Development Details

A contractor has been identified to conduct the works required. A conservative assumption of ÂŁ130 per sq ft has been assumed the build costs of liveable area, while ÂŁ80 per sq ft has been assumed for garages. Landscaping, roads and facilities will be contracted through our known and approved contractor network. Real Estate Sale Sales will be through a reputable real estate agent familiar with the local market. The units will be sold as freehold. The sale prices were assumed based on concrete and recent data from local/adjacent sales of similar developments.

Planning & Build Planning is already in place for and no additional application is necessary for the construction of the proposed units as described herein.


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Funding Required Breakdown Description

Total Cost

Land Purchase

£850,000

SDLT

£32,000

Build Cost

£2,839,630

Site Remediation

£100,000

Roadworks

£100,000

Foundation Abnormals

£15,000

Section 106

£65,267.20

Miscellaneous Fees

£229,150

Costs to Date

£120,000

Total

£4,351,047


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Units Constructed Detailed

Waterworks Farm - Sandbach, Cheshire East, England Number of Properties

Property Type

3

A

1,685

2

B

4 3 12

Internal Size Per Garages Size Per Unit (Sq Ft) Unit (Sq Ft)

Price

GDV

160

£450,000

£1,350,000

1,810

189

£475,000

£950,000

C

1,890

163

£495,000

£1,980,000

D

1,460

162

£395,000

£1,185,000

20,615

1,996

£5,465,000


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Development Opportunity Financial Details - Waterworks Farm

Development Cost Land SDLT Build Cost - Houses Build Cost - Garages Fully Remediated & Grubbed Up Foundation Abnormals Capping Layer 300m (Road) Section 106 Fees Costs to date Total Cost Net Sales Profit GDP (as % of costs) Fees Breakdown Legals Intro Agents Management Fees Planning Reports Borehole & Drainage Survey Architects QS/CA Structural Engineers Civil Design CDM Warranty Building Control Project Management Sales Agents Sales Legals Marketing Cost Total Fees:

Remarks £850,000 £32,000 £2,679,950 £159,680 £100,000 £15,000 £100,000 £65,267.20 £229,150 £120,000 £4,351,047 £5,465,000 £1,113,953

3.76% £130.00 per sq ft £80.00 per sq ft Water tank removal Piling Estate road Education, POS & Biodiversity Sunk Costs

25.60% Remarks £25,000 £17,000 £100,000 £0 £0 £0 £0 £0 £0 £3,500 £0 £0 £0 £54,650 £9,000 £20,000 £229,150

2% Sunk Cost Sunk Cost Sunk Cost Sunk Cost Sunk Cost Sunk Cost Incl. in build Incl. in build Incl. 1.00% £750 per unit


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Financial Details Continued...

Financing Details Total Equity Equity Investor Developer Equity Debt Total Costs

£652,657.08 £532,657.08 £120,000.00 £3,698,390 £4,351,047

Remarks

Financing Costs Legals, QS, Monitoring, Etc. Other Development Finance (16 Months) Arangement Fees Total Finance Costs Debt IRR

£0 £0 £345,183 £108,776 £453,959 12.27%

Equity Investor Total Invested Total Return Interest True Return Equity Investor’s IRR

£532,657.08 £334,185.84 £0 62.74% 47.05%

81.61% 18.39% (invested) 85.00%

Remarks Incl. Incl. 7.00% per annum 2.50%

Remarks 81.61% of Total Equity 30% of Profit

Developer Profit: £556,976


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This communication and any presentation materials provided by Revereum Developments and are strictly confidential and commercially sensitive, they are provided solely for the purpose of enabling you to consider the possibility of making an investment. You must preserve their confidentiality and must not use or copy or disclose any of their contents to any third party, or exploit or develop any of the ideas and concepts considered in them, without the written consent of Revereum Developments, unless and until they have come into the public domain via an authorised means.   All rights are reserved and neither the showing of any presentation or the supply of any information grants any license, interest or right in respect of any intellectual property rights of Revereum Developments. English Law applies.   DO NOT READ THIS DOCUMENT IF YOU DO NOT ACCEPT THESE CONDITIONS


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Contact Us

James Hargreaves, CEO ajay@revereum.com +44 (0) 3334.560.346 Manchester No.1 Spinningfields Quay Street Manchester M3 3JE United Kingdom London Berkeley Suite 35 Berkeley Square Mayfair, London W1J 5BF United Kingdom

Revereum

Revereum Property - Sandbach  
Revereum Property - Sandbach