Northumberland Living - Property Bond Investment Ravensmount Development- Alnwick
The Development
The site comprises a former 35 bed care home and is a grand period building of stone construction with a pitched slate tile roof and various large windows providing countryside views. The building currently extends to approximately 1,051 sq m (11,313 sq ft). Full planning permission has been granted to convert the building into 8 large apartments which will range between 861 and 1,421 sq ft.
We are of the opinion that the apartments are excessive in size, and have already had preliminary talks with planning consultants and architects to increase the number of apartments to 10, which will still provide spacious accommodation. The development of the building and landscaping of the grounds will take 15 – 18 months in total and the aim would be to sell a number of the apartments off-plan, retain several and refinance to repay the investors. Those retained would be utilised as holiday lets due to the demand in the area, and would be added to the Northumberland Luxury Stays portfolio.
Purpose of Loan Note
Northumberland Living is delighted to present to you its latest project, recently secured following the ongoing success of West Chevington Farm, Morpeth.
• Residential Development Opportunity
• Former 35 Bed Care Home
• Freehold
• Planning Permission Granted for 8 Large Apartments
• Desirable Location Within Alnwick
• Planning Permission Ref 19/04800/ FUL
Planning Permission has already been granted for 8 apartments with the construction of a bungalow in the grounds. We have since applied to increase the number of apartments from 8 to 10. The apartments would be completed with the same level of detail and attention as our other developments, with a view to increasing the ceiling on comparable prices in the area for high quality and luxury accommodation. We invite HNW & Sophisticated Investors to participate in this exciting investment opportunity.
The Area
The beautiful historic market town of Alnwick has become one of the country’s top tourist destinations and has been voted the best place to live in the UK. Complimenting the town’s cobbled streets and its rich history is the second largest inhabited castle in the UK, Alnwick Castle, which was featured in the Harry Potter films as the set for Hogwarts.
Next to the Castle is the impressive Alnwick Garden with it’s magnificent water cascades, rose garden, walled gardens and The Location The property is located off Alnmouth Road, a highly desirable residential street to the eastern outskirts of Alnwick, which is 5 miles from the Northumberland coastline. The property is within walking distance of the historic town centre whilst Alnmouth Road (A1068) provides access to Alnmouth and the coast. Alnmouth Train station to the east is only 3 miles away, whilst the A1 motorway is just 1 mile away by car.
Investment Highlights
- Minimum investment of only £10,000
- 18 Month Income Model
- 12% interest PA
- Security: 1. Debenture over the Company and its assets. 2. Guarantee and Equitable Mortgage over the SPV Company and its assets. This charge is held by the Security Trustee, Alpha Trustee Services Limited, and has been granted to provide extra comfort to Investors, until such time as the asset is purchased by the Company.
- Excellent developer track record Available to HNW and Sophisticated Investors
The location
Enquire Now
For more information including brochures, financials and current bond availability, please contact us and we will be in touch.