New Build Development Westward Ho North Devon, UK

PROJECT LOCATION: Westward Ho, Torridge District, North Devon, UK NUMBER OF UNITS: 21 PRODUCT CATEGORY:  Growth, Project Finance UNIT TYPES: Detached New Build Homes  INVESTMENT LEVEL:  £25,000 GBP MORTGAGES: Cash Only Investors can participate by providing capital for this UK seaside resort development, with the minimum and maximum investment ranging from £25,000 GBP to £250,000 GBP. The total GDV of the development is £6.24M and the developers are looking for private equity of £1.6M to complete the project, offering investors a targeted ROI…

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PROJECT LOCATION: Westward Ho, Torridge District, North Devon, UK
NUMBER OF UNITS: 21
PRODUCT CATEGORY:  Growth, Project Finance
UNIT TYPES: Detached New Build Homes 
INVESTMENT LEVEL:  £25,000 GBP
MORTGAGES: Cash Only

Investors can participate by providing capital for this UK seaside resort development, with the minimum and maximum investment ranging from £25,000 GBP to £250,000 GBP. The total GDV of the development is £6.24M and the developers are looking for private equity of £1.6M to complete the project, offering investors a targeted ROI of 44.46% over 18 months.

Westward Ho! is located at the southern edge of a two-mile stretch of sandy beach known as “The Golden Bay”. It is North Devon’s only Blue Flag beach – the international standard for the best beaches in the world – which it has won for 13 consecutive years. 

A new planning consent for a scrub land site with sea views at the junction of Fosketh Hill and Atlantic Way was presented by the Coyne Group in May 2017 and the development of 21 apartments was approved, the CIL 106 was rated at zero contribution. The architectural drawings in the initial application however, assumed that an energy efficient building would be accepted. New drawings are being put forward in the marketing directive add a sloping roof and a hint of Victorian authenticity which will be looked on with favour especially due to the lack of a proven five year land supply for local housing.

If you are interested in becoming a property developer but feel restricted by limited funds and experience, then the Armchair Development model is perfect for you. The materials below enable you to fully inform yourself about the property team at Coyne, the processes and the figures behind the Armchair Development model that will allow you to reap the benefits of this highly profitable deal.