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The 7 acre site, just south of Romford Railway Station was once home to an ice rink before closing down in 2013 as it was no longer a viable business. The site had become derelict and with huge pressure on London's councils to create new homes, such a large sustainable site so close to excellent Public transport infrastructure was crying out for regeneration.
Located in Romford, the principal town in the London Borough of Havering. It's identified as a Metropolitan Centre in the London Plan and in late 2018, Crossrail will stop here, which will enhance connections with Central London enabling Romford to realise its potential as a commuter town as well as connecting it to other neighbouring centres and London's airports.
In February 2018, Affinity GRE received planning permission from the London Borough of Havering for a 620-home mixed use development. In addition to the mix of build to rent, market and affordable units; the 11 block scheme of 1 to 4 bed apartments will also include a local supermarket, a gym, a café and a doctors surgery to enhance the community offering.
Upon gaining planning consent, the site is valued at £30m.
The preferred and proposed strategy is to seek out a equity partner that wants to develop out and manage a PRS scheme on the site and hold as long term investment.
This project was funded by Land Club's backers Affinity Global Real Estate, who are real estate owners and developers specialising in the acquisition of real estate based assets where there is an opportunity to add value.
Investment opportunities promoted by Land Club involve risks including loss of capital. This means that there is a risk that you could lose some or all of the money that you put in. There is currently no resale market for the investments promoted by Land Club. This means that you will not be able to easily sell your investment if you need to get your money back quickly. Investments made through Land Club are not covered by the Financial Services Compensation Scheme (FSCS).
Land Club is an appointed representative of Share In Ltd, which is authorised and regulated by the Financial Conduct Authority (603332). Pitches for investment are not offers to the public and investment can only be made by registered investors on the basis of information provided by Land Club.