CDP 2018 End of Year Review

Carpe Diem Property have expanded in 2018:
– Secured new sites and developed new land promotion agreements with site owners as collaborative JV partners.
– Raised over £25m funding for our own and 3 new JV development partners with total GDV of £72m.
– Expanded the team & moved office.

In Q1 2019 CDP are focusing on scaling up their development projects.

CDP want to engage with new site owners who are looking for a trustworthy collaborative JV development partner who will structure land promotions.

For example CDP work with land owners to minimise their risk and exposure and will align objectives to optimise the site’s planning and build potential.

Below are some of 2018 Projects we will be advancing in 2019:

Caterham:

  • Option with land owner to secure planning for 4 * four bed semi detached houses on a large plot with bungalow.
  • 2* 1,880 ft2 and 2* 2,200ft2 semi detached houses with garden and parking.
  • Purchase price: £875k.
  • Land value with planning: £1.3m.
  • GDV £3m.

Woking:

  • Proposed scheme: Office to residential scheme of 49 units, mixture of 1 and 2 beds units.
  • We have structured a Joint Venture and have raised equity for the scheme.
  • Project Length: 18 months.
  • Return: 10% preferred return, 50% profit share, 48% ROC.

Key Metrics:

  • Equity Required: £1.7M.
  • Total Costs: £8.6M.
  • GDV: £11M.
  • Profit: £2M.
  • Profit on cost: 22%.

Woking

 

Petersfield  – C2 Assisted Living 70 Bed Development with Care Hub

  • CDP advised on the land acquisition and facilitated £25m of funding.
  • The JV Funding comprises of a £6m mezzanine tranche from Cogress and equity placed into the scheme by CDP and a family office & £19m senior debt from OakNorth.
  • The project will create high quality dwellings which sit alongside: a prime ‘boutique-style’ clubhouse, with transport links to local amenities and include a restaurant, guest & function facilities.

“Carpe Diem Property remain an invaluable, highly creative Capital Advisory Partner. They have assisted us, not only in our capital raising requirements but also in securing our future site pipeline as JV partners.”

– David Boden, Chief Executive of Pacalis.

 

If you would like to work with us in 2019 to introduce new sites and discuss how these can be optimised we look forward to hearing from you.

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