18% return generated in the beautiful historic market town of Alnwick
BACKGROUND
Ravensmount Care Home in Alnwick was a former 35 bed care home and a grand period building of stone construction with a pitched slate tile roof and various large windows providing countryside views.
OPPORTUNITY
Located in the beautiful historic market town of Alnwick, one of the country’s top tourist destinations and voted the best place to live in the UK. Complimenting the town’s cobbled streets and its rich history is the second largest inhabited castle in the UK, Alnwick Castle, which was featured in the Harry Potter films as the set for Hogwarts. Full planning permission was granted to convert the building into 10 large luxury apartments which will help support the growing shortage of tourism property in this popular location.
INVESTMENT METHOD
18-month investment term (with potential 3-month extension) with a 12% per annum return (18% over 18 months).
There were two investment models:
Option One: Income – 12% per annum, paid quarterly (equal to 18% over 18 months)
Option Two: Growth – 12% per annum, with 20% paid on redemption (equal to 18% over 18 months + 2% bonus)
OUTCOME
I have invested into this project personally, with Vine acting as a strategic partner in the capital raise. The capital raise in now completed and the investment opportunity is closed. The redevelopment is underway and on target for delivery. There is already interest in purchasing the completed project as part of a staycation business for the future rental yield by a family-office. This project adds to the developers Northumberland staycation portfolio, which helps to further underpin the investment.
