£11m crowdfunded scheme brings 54 homes to Oldham
House Crowd Developments, the Cheshire-based property development and investment company, has announced the construction of 54 new homes in Oldham.
House Crowd Developments’ £11m scheme, Fox Owl Rise in Lees village, will comprise 45 houses and nine apartments.
Instead of using traditional bank finance, the scheme has been crowdfunded by local investors via The House Crowd, a peer-to-peer lending platform.
The development is approximately two miles outside Oldham, on the site of the former Bank Top cotton mill.
The development neighbours Leesbrook Nature Park and Medlock Valley.
The project will be constructed in multiple phases, with full completion estimated in Spring 2020.
Of the 45 proposed houses, 38 will be three-bedroom and seven will be four-bedroom.
The nine apartments will be two-bedroom. All houses will have a private, landscaped garden and the apartment block will have communal areas.
Every home will be completed to a high specification, including oak doors throughout and LED spotlights.
The modern, contemporary kitchens come fitted with integrated, branded appliances, chrome sockets and switches with a USB charging point. Bathrooms have a modern wet room-style shower and large format tiles
Prices are expected to start from £215,000 for three-bedroom and £255,000 for four bedroom houses. The apartment prices are anticipated to start at £120,000.
The project team consists of contractor, CPUK, HNA Architects, and employer’s agent Edmond Shipway.
Emma Lakin, head of sales at House Crowd Developments, said: “It’s great to bring a range of high-specification homes to such a vibrant property market.
“There is a wealth of ongoing plans to revitalise Oldham town centre and the suburban location, surrounded by Saddleworth Moors and the Pennines, is very desirable.
“We’ve developed a range of high specification properties to appeal to a variety of house-buyers, including families, first-time buyers and downsizers.”
Steve Burke, managing director of CPUK Group, said: “We’re delighted to be working on our second scheme with House Crowd Developments.
“This scheme is an indication of the growing strength of the residential sector across the region and will bring a brownfield site back to life, creating much-needed quality homes for local people.”
