Site

• The is situated to the rear of number 55 Crest Road, CR2 7JR and faces onto Croham Valley Road
• 55 Crest Road is a semi-detached house with a rear garden measuring approximately 35m long by 20m wide
• The site for the new houses will be offset from the rear wall of no. 55 by a minimum of 10m
• The area of the site is approximately 464m2
• The site had already received full planning approval for a smaller development under the application 19/02725/FUL, which we saw an opportunity to further develop
• Topographically, the site is on a gentle gradient which broadly falls from east to west
• The site’s primary frontage overlooks an area of open land between houses that provides access to Littleheath Wood beyond
• The site is not in a Flood Zone or within any area of heritage protection

Acquisition

• The site was identified through our internal direct sourcing processes
• An unconditional purchase was agreed directly with the Vendor

Finance

Red Banksia purchased the site using private finance with terms agreed on an individual basis. Typically, this was at an interest rate of 10% pa and security over the property and director personal guarantees.

Development finance is in place to support the development of the site and delivery of the approved scheme.

Planning

Erection of a terrace of four two-storey three-bedroom houses with accommodation within the roof space at rear, fronting Croham Valley Road, with associated refuse and cycle provision and landscaping.

Schedule of Accommodation

Note GIA = Gross Internal Area (Code of Measuring Practice, 6th Edition) and does not include communal areas.