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Westbrook Mills - Regular Income
Godalming, Surrey
Shojin
Property Partners is pleased to present an opportunity to invest in a
residential-led development scheme in Godalming, Surrey which comprises 87
residential units, of which 59 will be let to individual
tenants, 20 will be sold to end buyers and 8 are shared ownership and will be sold to a Housing
Association. This investment will be limited to Block 1 only.
The project has recently completed and will be let to tenants. Investors will therefore be investing into a built asset with no development risk.
This is a regular income product whereby throughout the whole investment, 50% of interest will be paid monthly into Investors' Shojin wallets and 50% will be rolled up and paid upon maturity with capital.
Watch the launch webinar here.
Funds were drawn down to the developer on 29th June 2023, therefore all subsequent investments start earning interest immediately.
Register to see full details
Running return residential investment in picturesque commuter town.
The site is located in Godalming, which is a residential area in Surrey. Westbrook Mills was a purpose-built office development comprising three separate buildings. The buildings have recently been converted and extended to provide residential accommodation along with private car parking.
Godalming, an affluent market town, is a highly attractive area to live in as it offers picturesque scenery, with the river Wey running through the town, combined with direct access to surrounding towns. The town has long been a hotspot for those relocating outside of London, commuters have traded inner city living for larger units with access to outdoor spaces to obtain a better quality of life whilst maintaining direct links to London. A key driver for demand has been the ability to achieve countryside living with access to high-end amenities and top tier education with several good to outstanding rated schools including Charterhouse.
Shojin & Investors will be providing a mezzanine loan to stabilise the income of the block following the recent completion of the development.
PROJECT HIGHLIGHTS
Interest due on Investors' capital will be part serviced, part paid upon maturity, with 50% of the interest serviced monthly, and the remaining paid upon conclusion of the loan.
All units have had their windows replaced, with many being full floor to ceiling height windows, with many benefiting from either a balcony or Juliet balcony. In addition, the apartments are finished to a high spec, with wood laminate flooring, stone worktops, and Samsung appliances. This ensures a durable, high-end spec for the rental units to ensure they remain in demand for the foreseeable future.
The location is 22 miles from Central London, which can be accessed in 42mins via train and 4 miles from Guildford.
Investment document pack
Stonegate Homes Limited
Stonegate Homes has a considerable and extensive history in purchasing sites unconditionally and obtaining planning permission, under both permitted development rights and full comprehensive planning. They also have a considerable proven track record of developing schemes in and around South East England.
Financial summary
- Time frame: 24 months
- Collateral GDV: £56.78m
- Expected rental income: £1.21m
- Expected total distributions: £755k
- 50% of interest serviced monthly
- 50% of interest paid upon maturity
- ROIC 37.5%
- Total investor requirement: £5,200,000
- Shojin co-investment: £58,590
- Developer co-investment: £2,475,993
- Fixed annualised return: 14% p.a.
- Minimum investment: £5,000
Location
The project has recently completed and will be let to tenants. Investors will therefore be investing into a built asset with no development risk.
This is a regular income product whereby throughout the whole investment, 50% of interest will be paid monthly into Investors' Shojin wallets and 50% will be rolled up and paid upon maturity with capital.
Watch the launch webinar here.
Funds were drawn down to the developer on 29th June 2023, therefore all subsequent investments start earning interest immediately.