Lealand Road - Portsmouth
- Proposal to construct 7 new build apartments and refurbished house
- 591 sq. m. (GIA) for apartments, plus house
- Purchase Price: £350k for 46a & £470k for 46
- Purchased in 2013, however planning was refused and appealed, then finally granted after a re-submission in June 2018. Please note this was the first development purchased beforewe discovered the Prior Approval model, hence the planning issues and delay experienced.
- Estimated Profit: £51k
- Estimated GDV: £2.65m
- Timescales: Currently in the process of being sold with planning for £1.025m
- Investors: Julian Marriott and Paul Towlson, both Directors of Rhema Project Management (the borrower).
- Glenn acted as a consultant with a 50% profit share.
Please note we do not hold any other financial information for this scheme as it is being dealt with directly by the investors.