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JV partner needed for SW London Project - All good to go!


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Hi All,

 

I have a development opportunity/project that I'm good to go with in SW London (Clapham), that I would love to speak to any potentially interested partners?

 

A brief summary of the project:

 

In summary:

•    The property is located in Clapham SW4, London, directly on Clapham Common, one of the most desirable streets in one of the most desirable areas in SW London.
•    Planning permission is in place to convert and extend a 1 Bedroom and 1 Bathroom property with cellar currently, to a 3 Bedroom and 3 Bathroom property.
•    Party Wall Agreements and Building Regs drawings and sign-off in place
•    Share of Freehold now in place after a lengthy and protracted negotiation with the former Freeholder.
•    Extend the liveable square footage from 760 sq ft currently to 1,450 sq ft of liveable space
•    Off-street parking and front and rear garden.
•    Improve from un-modernised condition currently to high-specification condition.

 

I have a good, qualified and insured team of builders ready to go.

 

I do have some development funds in place, but I am looking for a JV investor(s) to get ‘across-the-line’ for a good return over a relatively short period of time.  Given the length of the Freehold negotiation, my previous JV partner has their funds tied-up elsewhere, so is unable to help in this instance.

 

Would love the opportunity to discuss with any interested parties!

 

Warm regards,

 

Ben.

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Hi Ed,

 

It's actually on Clapham Common Northside, with an aspect directly over the Common.  

 

I also the own the property having bought it in 2015.  Everything is in place to go, such as planning permission, part wall agreements etc.  The delay in the works has been caused by a very protracted negotiation in buying the Freehold, but that has now been purchased too.

 

Yes the market has cooled in London, but 8 flats have sold on the road in the last 18 months, averaging £900 a square foot, which is above the Clapham average.  The rental market however is still strong, so the exit strategy for any potential investor(s) would be to remortgage on a BTL, as the equity on the GDV is very healthy.

 

Thanks,

 

Ben.

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