Up to £2 million pound profit possible on this deal!

Up to £2 million pound profit possible on this deal!

FULL DETAILS below:

We have just been let down by a partner on a project we was set to complete on last Friday, so the opportunity to JV with us through Goldthorpe Property Developments Limited is available.

We was set to do this on a 75/25 basis but for speed and to secure this we’re happy to do this with yourself at 80/20 split of the profits (80% to the investor, and the rest to Goldthorpe Property), based on us doing all of the works to maximise the profits.

The security on this for you is 80% of the shares for The company, which is the entity we will be taking over who holds this Asset in Barton upon Humber (value as stands 1m).

Sales Costs

Phase 1 x 12 Apartments (Worst Case Scenario - £1.02m / Expected Sales – £1.3m) **FPP in place**

Phase 2 x 15 Apartments (Worst Case Scenario - £1.275m / Expected Sales – £1.65m) **STPP**

Phase 3 x 12 New Build Units (Worst Case Scenario - £1.5m / Expected Sales – £2.1m) **STPP**

**STPP** = awaiting for costs to get through planning, the previous owner has already started to get everything together, which we have in our possession.

After an architects meeting today, it has been advised we would be able to add an extra floor onto the building although this would incur extra costs but adds an extra 1.2m to the end total.

Refurbishment Costs

Apartment Costs TBC – expected to be up to £40k per apartment (£1,080,000 in total)

New Build Costs TBC – expected to be up to £60k per unit (£720,000 in total)

These will be finalised and broken down as soon as we have the keys.

Stamp Duty

£2,650

Legal Fees

£10,000 + VAT and £81.60  disbursements (HMLR search fees etc)

Gross Price

£750,000

We estimate that this project will take 12-16 months, although this may vary depending on external factors. On worst case scenario the profit to yourself would be approximate £1,045,728.14 and on what is expected it would be around £2,112,478.14. So on worst case scenario the project is looking at around 45% ROI.

If interested please let me know ASAP, as to secure this we need to complete by Friday latest which will require £764,731.60 investment with the rest required in instalments throughout the works at agreed intervals as it is required for the project. Ideally in one go, although to secure this we need to transfer £160,000 to the solicitor today latest with the rest by Friday. If that isn’t possible the deal cannot be secured.

We are extremely experienced with projects like this and have everything in house to make it a success from the works to selling/letting and everything in-between.

The attached is a fraction of what we have had from our solicitor from this, everything required is available and if you proceed to work with us on this I would suggest meeting to set a plan of action to start the best way possible to limit the amount of time we are on this project.

If you would prefer not to have you name/company on the shares of the asset, this opportunity is available on a fixed return opportunity if you wish to invest it through ourselves.

If interested, email me now at dav@mpinvestments.co.uk