UOWN is teaming up with The Parklane Group to convert an old bakery building into 12 one-bedroom flats. The Parklane Group has secured the site and has planning permission in place, as well as bank finance secured. UOWN is raising £400,000 from the crowd.
Investors will own equity in the development alongside The Parklane Group. The flats will be sold to owner occupiers: mainly first-time buyers and professionals rather than overseas investors. Project completion is expected in quarter-one 2020 making the term 11 months. Projected return to investors in this project is 15%.
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