Build Magazine May 2016

Build Magazine 5 17th May 2016 - Decorean, one of the fastest growing construction companies in and around London, has won the contract for the £27m office to residential development of Bartley Wood Business Park, Hook. The development, which represents one of the UK’s largest office to residential developments in a business park to date, will see the 84,000sq ft business park, change from existing commercial usage into 107 modern one and two bedroom apartments, set over three floors. The flats will include oversized windows, high ceilings and will be built to a high standard. The construction is expected to be completed in winter 2017. To date, a quarter of the units have been exchanged. The sale price of each unit in Hook is between £200-250K, in line with Decorean’s desire to build affordable and high quality living. Intro Crowd Launches New Way to Invest in Land Development Intro Crowd today launches an innovative platform that allows investors to invest in land with potential for housing development. Investors have the chance to buy shares in companies owning the land for as little as £1,500. Gregory Baker, Intro Crowd’s chief executive, says: “There are plenty of ways to invest in property, but our platform allows people to invest in strategic land, which are sites on the edges of towns and villages. The Government has pledged to build one million new homes over the next five years and the challenge is finding the land on which to build them. We believe our investors can make a contribution to reducing this shortfall.” Intro Crowd identifies promising sites adjacent to existing settlements which are experiencing a high growth in population. The sites are then listed on the platform with site plans, a report and indication of future land value from chartered surveyors. After the purchase of the site has been funded, investors hold shares in a company which owns the land proportional to the amount they put in. Intro Crowd then handle the planning application process and when the land is sold to a housing developer the net profits go to investors. There is a transparent and simple fee structure: • An investment fee of 2% plus a one-off management fee which will vary from site to site • A success fee to Intro Crowd of 5% based on the gross proceeds of sale. Intro Crowd has already purchased its first land site to kick start the launch, a strategic land development at Cam, near Dursley in Gloucestershire. Additional sites to be funded by investors will be added to the platform over time. Gregory Baker says: “This is an investment for ordinary retail investors as well as sophisticated and high net worth clients. It is an opportunity to diversify their portfolios into an alternative asset class. However because there is no guarantee that the land we purchase will secure planning permission, we make it absolutely clear that this should be considered a high risk, long term investment and that an individual’s capital will be at risk. It should form part of a well-balanced, well diversified portfolio.” The park had previously attracted a number of major occupiers including Virgin Media and BMW. Shraga Stern, Managing Director of Decorean, said: “The apartments will be built to the company’s usual high and exacting standard, exemplifying our dedication to perfection. The location of this site is particularly exciting for us with London being less than an hour away by train, making it a desirable commuter location. We are committed to creating high quality, affordable housing and proud of this development.” Decorean to Build £27m Residential-To-Office Development in Hook