{"id":717,"date":"2023-09-22T13:59:56","date_gmt":"2023-09-22T13:59:56","guid":{"rendered":"https:\/\/propconnections.co.uk\/?post_type=property_investments&#038;p=717"},"modified":"2024-05-16T13:16:40","modified_gmt":"2024-05-16T13:16:40","slug":"cocity-planning-enhancement-investment","status":"publish","type":"property_investments","link":"https:\/\/propconnections.co.uk\/property_investments\/cocity-planning-enhancement-investment\/","title":{"rendered":"CoCity\u00a0Planning Enhancement Investment"},"content":{"rendered":"\n<p>An excellent opportunity to invest into another CoCity development in the city centre of Kingston Upon Thames. The property is under legal control and has already been demolished awaiting revised planning and construction.&nbsp;<\/p>\n\n\n\n<p>CoCity<strong>&nbsp;<\/strong>currently have full planning approval to build a new&nbsp;mixed-use block. This consists of 10 flats over 3 floors,&nbsp;2 floors of office, and a basement for commercial. Projected ROI 25 % pa, 12 month term.<\/p>\n\n\n\n<p><strong>They have the following options to enhance the existing consent.<\/strong><\/p>\n\n\n\n<p><strong>Market Case (32 Apts + 1 Floors of Commercial):<\/strong><\/p>\n\n\n\n<p>We will enhance the scheme to make a mixed-use, community centred live, work and play scheme. We will remove the basement, and build 8 stories in total, with 32 Flats (Over 6 floors) and 1 Floor of Commercial. This is a new application, and the premise of this memorandum.<\/p>\n\n\n\n<p>MARKET CASE&nbsp;(32 APTS + 1 COMM)&nbsp;\u00a318.0m \u00a314.1m \u00a33.9m (28.0<\/p>\n\n\n\n<p><strong>Base Case (30 Apartments Only):<\/strong><\/p>\n\n\n\n<p>Should we meet resistance on the height, we have the ability to remove up to 2 floors and convert the existing office consent, in favour of residential. We will reconfigure the floor plans &amp; floor-ceiling heights to get 30 Apartments, whilst retaining the same consented building height.<\/p>\n\n\n\n<p>BASE CASE&nbsp;(30 APTS)&nbsp;\u00a313.0m \u00a310.6m \u00a32.4m (22.3%)<\/p>\n\n\n\n<p><strong>Back Up Case (26 Apartments Only):<\/strong><\/p>\n\n\n\n<p>Through an amendment of the existing, we will convert the office consents into residential, and then by reconfiguring the existing three floors of Resi from 4 Apts to 6 Apts per floor, reducing the floor-ceiling heights on all floors to minimum 2.7m internal, we will be able to stay within the same No. of floors for the existing consented scheme, whilst reducing height &amp; cost.<\/p>\n\n\n\n<p><strong>BACKUP CASE:&nbsp;<\/strong>(26 APTS)&nbsp;\u00a310.6m \u00a39.0m \u00a31.6m (18.5%)<\/p>\n\n\n\n<p><strong>Project Plan - Phase 1<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Planning enhancement of existing scheme up to 30 Apts &amp; 1 floor of commercial (4000 sq.ft) - Through PPA with LPA.<\/li>\n\n\n\n<li>Conduct full site surveys, ground investigation &amp; remedials.<\/li>\n\n\n\n<li>Full RIBA 3+ Design Pack<\/li>\n\n\n\n<li>Security offered by way of 1st ranking charge over the SPV<\/li>\n\n\n\n<li>Planning insurance to cover RIBA 2\/3 Costs<\/li>\n\n\n\n<li>Developer contributing AT RISK CAPITAL - Over 50% to date<\/li>\n\n\n\n<li>Investor Exit at planning gain (Sale and\/or Refi)<\/li>\n<\/ul>\n\n\n\n<p><strong>Total Investment required = \u00a3250,000<\/strong><\/p>\n\n\n\n<p><strong>Minimum Investment = \u00a315,000<\/strong><\/p>\n\n\n\n<p><strong>Total Length of Phase I = 10-12 months<\/strong><\/p>\n\n\n\n<p><strong>Projected Investor IRR (pre-tax) = 25%<\/strong><\/p>\n\n\n\n<p><strong>Opportunity to invest as equity partner in Phase II<\/strong><\/p>\n\n\n\n<p><strong>SSAS, Business &amp; Personal Entities can invest<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An excellent opportunity to invest into another CoCity development in the city centre of Kingston Upon Thames. The property is under legal control and has already been demolished awaiting revised planning and construction. The site has full planning for 10 apartments and 3 floors of commercial. Although this planning is already a viable development CoCity are highly confident that they can enhance the value through a fresh application for 30 apartments and 1 floor of commercial. The investment is therefore open to SSAS, business &#038; personal entities. Projected ROI 25%. Term 12 months.<\/p>\n","protected":false},"featured_media":719,"parent":0,"menu_order":0,"template":"","completion_status":[5],"investment-category":[],"class_list":["post-717","property_investments","type-property_investments","status-publish","has-post-thumbnail","hentry","completion_status-live"],"acf":[],"_links":{"self":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/property_investments\/717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/property_investments"}],"about":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/types\/property_investments"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/media\/719"}],"wp:attachment":[{"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/media?parent=717"}],"wp:term":[{"taxonomy":"completion_status","embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/completion_status?post=717"},{"taxonomy":"investment-category","embeddable":true,"href":"https:\/\/propconnections.co.uk\/wp-json\/wp\/v2\/investment-category?post=717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}