18 Romsey Road - Eastleigh

Key Information

  • 49-unit re-development combining 10-12 & 18 Romsey Road
  • 315 (18) and 519 (10-12) sq. m. (GIA)
  • Purchase Price: £1m (for both properties 10-12 & 18)
  • GDV: £12m + commercial land sold for £2.4m
  • Profit: £800k
  • Sold (with planning permission) to Eastleigh Borough Council
  • Investor: Julian Marriott (having considered Glenn’s work with Rhema Project
    Management, Julian and Glenn then formed a JV company called EDJM Property Limited (borrower for this scheme).
  • Scheme was 50/50 – Julian supplying funds and Glenn overseeing the delivery with 50% profit split
  • Lender: Shawbrook Bank Limited
  • Date Borrowed: 18th August 2016 (term of 12 months)
  • Date paid back: 31st July 2017 (date we completed on the sale to Eastleigh Borough Council)

Before Conversion