15 Devonshire Way, Fareham PO14 3AQ
This three bedroom freehold semi-detached house is located at 15 Devonshire Way, Fareham PO14 3AQ and has a current value of £295,000. Devonshire Way has 41 properties on it with an average current value of £283,624, compared to an average property value of £328,901 for PO14. There have been two property sales on Devonshire Way, PO14 over the last five years with an average price paid of £250,000, and this semi-detached house was last sold on 14th Jun 1999 for £40,000. There are currently 121 houses and flats for sale in PO14 with an average asking price of £408,339 and 14 homes to rent in PO14 with an average asking rent of £221 pw. (zoopla.co.uk)
The lively market town of Fareham lies halfway between the cities of Southampton and Portsmouth. It combines a High Street made up of characterful, historical buildings, and a modern pedestrianised central shopping area. Boasting around 300 shops, plentiful cafes, restaurants and pubs, a wide range of business services and a lively entertainment scene - there is plenty to enjoy. Within easy access of the motorway, the town offers a great mix of modern attractions with an important historical architectural background.
Fareham offers one of the best traditional open-air markets in the region and the town has been hosting its own independent Farmers' Markets since 1998, located in West Street precinct. A bright and airy undercover shopping centre offers approximately 80 high street names, including Boots, Debenhams, and Next.
The borrower of this project has exchanged contracts on the purchase of this semi-detached property in Fareham.
The property is below market value, so the borrower would like to raise monies as a bridging loan and then would subsequently refinance the property at the end of the loan term. The investment opportunity was identified by the borrower, an investor and developer who is local to the area.
The borrower is raising £206,500 for the purchase and refurbishment of the property. The plan is then to refinance the property during the 6-month term.
• A healthy profit margin exists when stressing the Current Valuation by 10%.
• Investor capital and interest is fully covered at a 20% drop in the Current Valuation.
• Bear in mind the loan term is only six months.
• There is a healthy safety margin to protect investors due to the borrower purchasing at 30% below the Current Valuation.
Every project is evaluated, looking at if the loan-repayment schedule and the borrower’s exit strategy (sale of the developed property or refinance) is realistic, to ensure the most secure and profitable plan is followed.
For this project, the borrower will be refinancing the property.
Interest will be repaid with the capital at the end of the loan term.
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Bonus: £50 when you lend your first £500.
Type: Bonus paid on drawdown of the loan by the Borrower.
Terms: To claim this offer, you will need to invest a minimum of £500 into the loan opportunity. You will then have your account credited with £50 on drawdown of the loan. This offer only applies to your first £500 investment. Lender Terms and Conditions apply.
Cash-back Reward: 2% when you lend £20,000 or more.
Type: 2% Interest added on drawdown of the loan by the Borrower.
Terms: To claim this offer, you will need to invest a minimum of £20,000 into the loan opportunity. You will then have your account credited with 2% of the final amount you have invested on completion of the loan. Lender Terms and Conditions apply.