Crowdstacker raised £650,000 to help finance the construction of a small housing estate just outside Deal in Kent.

The money was raised via one of the new Property Development Loans and took just a few days to reach its investment goal. Investors invested from a little as £100 and were offered 12% p.a. interest over a two year loan term.

Since the investment closed work has been getting underway and exciting progress has been made. Earlier in the Spring we went to take a look at what has been happening.

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Site clearance ready for ground works

The first major job has been to start clearing the site which has been disused for some time. Although it’s difficult and dirty work this needs to be done so the footings (foundations) can be put in, and to make sure the ground is prepared correctly for the landscaping plan.

Clearing has meant demolishing both the bungalow at the front of the plot and the large metal shed at the back. Concrete from the old parking areas is being pulled up and crushed so that it can be recycled to use on site.

Once this has been completed the groundworks can start which, amongst other things, means putting in all the utility supplies.

What is happening next?

Planning approval for the drainage designs is pending. It is standard practice for this to be granted when the overall development has already been approved and work is underway. This provides the flexibility required to manage the construction correctly, enabling final decisions to be taken only once all the relevant knowledge about the site is in place.

The timber-frame contractor has been engaged and designs for the houses is being finalised. This enables the engineers to make the required calculations and decisions to create the plans for construction.

It is anticipated that by the time of the next update, construction will have started and some of the new buildings will be starting to take shape.

Interested in finding out about other property development investments?