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Property Development

Property Development

OVERVIEW

Our Property Development Offering focuses on the conversion of commercial properties into residential units, providing a unique opportunity for investors to benefit from the growing demand for housing.

 

• Business Model: Conversion of commercial to residential property.

• Minimum Investment: GBP £5,000.

• Fees: No management fees.

• Returns: Fixed Annual Returns of 11%, 13%, and 17%.

• Investment Options: Income & Growth options available.

• Term Time: Investment terms of 2 years and 4 years.

• Security: Legal charge over all current and future assets & a debenture over the company.

• Contractor: In-house contracting to minimise costs.

 

This offering provides a structured investment opportunity with attractive fixed returns and robust security measures to protect your investment.

Email: realestate@corsicacorp.com

LAST UPDATED 01/06/24 - ONGOING

Current Projects

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Our partners have a variety of ongoing projects ongoing all around England. Some are currently under construction, some are near completion, and some have just started. Here is a list of the locations and some basic details:

IPSWICH

A redundant commercial building with Planning Permission for the conversion of the upper floors into 18 Apartments, 17 x 1 Bedroom and 1 x 2 Bedroom. The building is located in a secondary town centre position with good public transport links. Having stood empty for a number of years, repurposing this run-down building allows us to breathe new life into an otherwise dormant and unwanted structure to provide much-needed residential accommodation.

Total Costs: £2.20 Million | Gross Development Value (GDV): £3.29 Million

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LOWESTOFT

Planning Permission has been granted for the conversion of part of the ground floor and the upper floors into 23 Apartments. The tenure mix is 6 x Studios, 15 x 1 Bedroom and 2 x 2 Bedroom apartments. With its town centre location, the development is well placed to benefit from many shops and stores as well as a large number of pubs, restaurants and bars, along with all the leisure facilities only a coastal town can provide. This project is another opportunity for us to breathe new life into an otherwise redundant commercial building by repurposing the upper floors to provide much-needed residential accommodation.

Total Costs: £1.84 Million | Gross Development Value (GDV): £3.62 Million

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BRACKNELL

A 4,790 sq.ft. office building with vacant possession on a 0.22 acre site. It has approval for a Change Of Use to 11 x 1 Bedroom apartments, 8 x 2 Bedroom apartments and 1 x 3 Bedroom apartments. The scheme in total will be a five-story building with 20 apartments.

This residential development is located on the Eastern edge of central Bracknell. The surrounding neighbourhood comprises of newly developed residential schemes, houses, and a combination of light commercial properties. The property offers convenient access to major roads and is only an 8-minute walk or a 3-minute drive to the town centre, as well as a 15-minute walk or 2-minute drive to the train station.

Total Costs: £4.14 Million | Gross Development Value (GDV): £6.77 Million

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HANLEY

Planning permission granted for the conversion of the upper floors into 18 apartments and is our opportunity to breathe new life into a very interesting and visually varied row of redundant buildings in the city centre.

There are a further 7 apartments to be created on the first floor of building nearby, which backs onto the street mentioned above. The accommodation types are a mix of Studios, 1 Bedroom and 2 Bedroom apartments. The road is located opposite the City Conservation Area, albeit none of the buildings are listed.

Total Costs: £1.89 Million | Gross Development Value (GDV): £3.30 Million

There are more projects ongoing/entering the portfolio. Contact us below for more information.

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LAST UPDATED 01/06/24 - FINISHED

Track Record

BARNSLEY

 

Conversion to 17 new 1-Bedroom and 2 new 2-Bedroom apartments,

and 4 commercial units under Permitted Development Rights.

 

• Purchase price: £850,000

• Development costs: £550,000

• Total: £1,400,000

• Residential income: £172,095 pa

• Valuation: £2,200,000

• Uplift: 57%

 

DONCASTER

 

Conversion to 14 1-Bedroom apartments under Permitted

Development Rights.

 

• Purchase price: £670,000

• Development costs: £420,000

• Total: £1,100,000

• Residential income: £110,020 pa

• Valuation: £1,400,000

• Uplift: 27%

 

WAKEFIELD

 

Conversion to 29 self-contained apartments

under Permitted Development Rights.

 

• Purchase price: £370,000

• Development costs: £928,000

• Total: £1,298,000

• Residential income: £188,500 pa

• Valuation: £2,356,250

• Uplift: 82%

 

BOLTON

 

Conversion to 81 self-contained apartments under full planning

permission; ground floor retained as a commercial unit.

 

• Purchase price: £850,000

• Development costs: £2,592,000

• Total: £3,442,000

• Residential income: £589,680 pa

• Commercial income: £30,000

• Valuation: £7,746,000

• Uplift: 125%

 

BOLTON

 

A former mill to residential conversion with 24 1-bedroom,

90 2-bedroom, and 10 three-bedroom apartments.

 

• Purchase price: £1,700,000

• Development costs: £6,200,000

• Total: £7,900,000

• Residential income: £1,024,800 pa

• Uplift: 62%

 

HALIFAX

 

A commercial to residential conversion via full planning

permission creating 65 1-bedroom & 2-bedroom apartments.

 

• Purchase price: £1,250,000

• Development costs: £2,275,000

• Total: £3,525,000

• Residential income: £456,300 pa

• Uplift: 61%

 

PONTEFRACT

 

Conversion to 62 self-contained apartments

under Permitted Development Rights.

 

• Purchase price: £600,000

• Development costs: £2,108,000

• Total: £2,708,000

• Residential income: £483,600 pa

• Valuation: £6,045,000

• Uplift: 123%

 

WAKEFIELD

 

Conversion to 16 self-contained apartments

under full planning permission.

 

• Purchase price: £900,000

• Development costs: £480,000

• Total: £1,380,000

• Residential income: £112,320 pa

• Commercial income: £50,000

• Valuation: £2,029,000

• Uplift: 47%

DARLINGTON

 

Creation of 39 1-bedroom apartments and

studios in the Coachman Hotel building.

 

• Purchase price: £390,000

• Development costs: £1,365,000

• Total: £1,755,000

• Residential income: £273,780 pa

• Uplift: 96%

 

BLACKBURN

 

Conversion to 66 self-contained apartments with car

parking under full planning permission.

 

• Purchase price: £850,000

• Development costs: £2,640,000

• Total: £3,490,000

• Residential income: £429,000 pa

• Valuation: £5,362,500

• Uplift: 54%

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