Development Profit: £1,950,000
Calvin Street is one of the many narrow streets running off Commercial Street. In much the same as our previous Shoreditch development this building was ideally located and prime for a residential conversion. A turn of the century, former printers warehouse the double-fronted building was the last of its kind in a street that had become mainly residential developments.
£2.2million plus professional fees just short of a further £300,000 secured the purchase of the site. Unlike the other developments in the neighbourhood which look to cram as many units in as possible, we and the developer took a different view. After taking the building through the entire process of planning, design and development we created just three large and liveable spaces sympathetic to the original character of the building.
As usual, each apartment was finished to the highest of standards with handpicked finishes.
Raise Details for
|Building purchase||2.5 million|
|Conversion costs||1.7 million|
|Total cost||4.2 million|
|Senior debt||2.95 million|
|Equity capital raise||1.25 million|
The Spitalfield project was something close to my heart as I was brought up in the area. Having known Jamie for many years I knew my investment would be safe. So it proved and a healthy return of 15% was realised upon completion
Working with Store House London has been a great and profitable experience. The Margate project was presented by Jamie and it was a very easy decision to invest. I invested £125,000 and enjoyed a return of 15% per annum.
Very professional company. I admit to being sceptical at first but have now invested in two Store House projects. £85,000 invested with a 12.5% ROI
As an investor, I’m all about the return. Did my DD on Store House and was satisfied they would complete on time and to the promised standard. Happy and now a regular investor having seen returns on average of 14.5%