+44 (0)1275 866445

Residential Development - Regent House, Barnstaple

Project Overview

  • UK asset backed investment opportunity
  • FCA authorised structure through Brickowner Ltd. Brickowner Ltd is an Appointed Representative of Gallium Fund Solutions Ltd (Reference number: 487176) which is authorised and regulated by the Financial Conduct Authority. 
  • Project specific SPV
  • Projected ROI 32.7% annualised
  • Residential building - 31 apartments
  • Town centre location
  • Senior debt raised: circa £3million
  • Development Value: circa £5million
  • 62% LTV

This opportunitiy has now been fulfilled.

This is an opportunity to invest in a new residential property development located in the heart of Barnstaple, North Devon, with a projected Gross Development Value (GDV) of £5.8 million.  Brickowner are raising approximately £1.7m of equity for the project. The development is projected to generate a total return on investment of 32.7% over a 12 month period. Using existing permissions and permitted development rights we are converting a 2839 m sq (30554 ft sq) 4-storey office building into 31 one and two bedroom residential units, with the ground floor being converted from commercial to retail space. 

Investor returns will be paid at the end of the project, on completion of the development and sale of the flats. It is anticipated that this will take 12 months subject to development and subsequent sales.

We will manage the build and refurbishment, sub-contracting various elements of the project to trusted and known specialist sub contractors who they will manage. Having completed a number of recent developments, a directly comparable example being their 'Montepellier Apartments' residential development, they have a proven delivery track record and an in depth understanding of the project, location and market. This helps to de-risk the investment and will help them deliver the project on budget and to a high standard.

We have priced finished one bed units in the development for £125,000 and two bed units for £200,000 and an average price per square foot of £215 (£2311 per m sq). These prices compare favourably with the local market, as the average house price in Barnstaple is currently £246,346. The ground floor retail space will be priced separately at £125 per rentable ft sq (£1,345 per m sq) and is targeted at a retail gym or similar amenity to benefit the residents of the development. It is envisaged that finished units will be sold to first time buyers, or retirees looking to downsize. With a high build quality and an exciting location in the city centre this development is perfectly placed for young professionals and retirees looking to live close to local amenities.

Project Breakdown

Equity Investment   £1,694,303
Senior Loan Amount £3,068,809
Total Investment   £4,763,112
Site Purchase £1,387,000
Planning £90,965
Professional Fees £33,500
Project Management Costs £106,260
Build Costs £2,401,272
Preliminary Costs £416,000
Other Costs £5,000
Development Costs £4,439,997
Sales Costs   £115,760
Legal Costs £57,880
Costs of Sales  £173,640
Gross Decelopment Value £5,788,000
Cost of Salkes £172,640
Projected Delivery Costs   £297,948
Net Sales £5,614,360
Total Costs £5,06,060

Net Profit (after fees and costs)

 £553,300  (32.7%)

*All figures are forecast and subject to change

Brickowner Ltd is an Appointed Representative of Gallium Fund Solutions Ltd (Reference number: 487176) which is authorised and regulated by the Financial Conduct Authority. 


Quays Office Park
Conference Avenue
BS20 7LF

+ 44 (0)1275 866445

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