Bennat Apartments, Higher Drive, Purley, Croydon

Date: 1st Apr 2022

Location: Bennat Apartments, Higher Drive, Purley, Croydon

  • The total loan amount for the development: £2,561,775
  • Build Costs – £1,149,878
  • GDV – £3,647,500

The Client Brief

A Croydon residential developer with a successful portfolio approached us for the build of 9 spacious, affordable but luxury apartments with a mix of 1, 2 and 3 beds. We were very impressed with the plans which included private balconies and terraces, off-street parking and superb views of Purley. They required 100% funding and were more than happy to partner.

Challenges

Completion fell on the 24th December, Christmas and the new year is a notoriously difficult time to sell property, so there was a concern that the apartments would be off to an immediate setback in terms of selling.

Successes

All apartments were sold and completed within the first 3 months with almost all buyers fully moved in. We love when a brief is not only met and completed but when it defies our expectations. This build certainly impressed us with its simple yet stylish design and phenomenal attention to detail. With 9 apartments to suit every lifestyle built within just one piece of land in a sought-after area as you can imagine ROI was certainly substantial.