JaeVee Homes has acquired a development located within Clare which is currently a vacant land site.
It benefits from outline planning consent to construct 20 residential units with associated landscaping and external works. A reserved matters application will be submitted in due course.
Located in an extremely popular residential area, this development will bring high quality new homes, in an attractive architecturally designed scheme along with housing supply for Sudbury and Mid Suffolk Council.
The planning application reference number is DC/21/2094/OUT which references the outline consent for the erection of 20 dwellings along with associated landscaping and external works.
The proposed handover is delivered in one phase (when cash flowing the model). Plot number 1 will be finished first (as a show home) with the larger private homes (plots 1, 17, 18, 19, & 20) will be the first 5 plots handed over to move into (as these are shown from the main road entrance).
The current GDV of £7,675,000 is based on sold comparables, details of which can be found in the investment memorandum on pages 28 to 29 (downloadable via the Documents section below). It has also been supported by an appraisal from Connells Estate Agents along with a redbook valuation from Strutt & Parker which is in the documents section below.
The proposed exit strategy is to sell the units on the open market.
The property will be marketed with Connells Estate Agents with the target market being a mixture of owner occupiers and single let landlords. Connells have provided an Estate Agent Appraisal supporting the GDV, also available for viewing via the Documents section below.
The developer has allowed a sales period of 6 months within the term of 24 months though the marketing will commence from month 6 as house buyers tend to reserve early in the construction phase. JaeVee Homes offers Personalise your home options to prospective buyers, which in turns encourages buyers to reserve early in the construction phase.
JaeVee Homes is a property developer and house builder focused on developing brownfield sites into sustainable residential developments throughout East Anglia, in-line with ESG.
Our ethos is to deliver bespoke homes based on creating an unrivalled lifestyle. Our portfolio of diverse projects include large scale residential schemes of new build apartments and houses, restoration and refurbishment of historical buildings often listed by English Heritage and other mixed use schemes.
We focus on the East of England, due to our expertise of the local area. Our head office is also based in the area.
We have completed a number of property developments, including setting records for achieving the highest priced sales in local areas (on a per sq-m basis).
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