Development Profit: £1,350,000
Purchased in March 2018 for a total just under £3,5Million including professional fees this impressive building on Margate’s seafront was in need of a great deal of attention. However, local knowledge and intensive due diligence gave us and the developer confidence the target GDV could be achieved, and so it proved.
Margate has seen a resurgence over the last ten years, thanks in part to the promotion of the town by contemporary artist Tracey Emin. Ms Emin’s work may well divide opinion but her commitment to her home town cannot be argued, she has done wonders for Margate. Establishing the town as a major hub for aspiring young artists and in doing so raising its profile across the UK and indeed the world.
Raise Details for
|Building purchase||3.5 million|
|Conversion costs||1.17 million|
|Total cost||4.65 million|
|Senior debt||3.25 million|
|Equity capital raise||1.4 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
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%
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
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.