Broad Oaks Development in Downham Marketfjpinvestment
FJP Investment recently announced the launch of our introducers agreement with Prosperity Wealth by bringing one of their developments to clients of ours. We launched with the brilliant development by the name of Broad Oaks at Downham Market in Norfolk.
About the developer – Prosperity Wealth, Birmingham
Prosperity Wealth are a developer from Birmingham, we’ve had approaches from them going as far back as 2018 in the context of introducing their developments to our global investor base. We like to watch developers before we engage them, and we have nothing but positives to share about Prosperity Wealth and the great work they have done and continue to do for investors around the world.
Prosperity Wealth predominantly specialise in developing new build, though there is sometimes an element of conversion projects.
They’ve been constructing and developing projects since 2007 and have a solid 40 or so developments under their belt. Near on approaching £500 million worth of projects. Since 2007, Prosperity Wealth have delivered over 3,000 homes across the United Kingdom.
From talks with other agents and industry professionals; there is nothing but positive feedback on Prosperity Wealth. We have launched one of their developments and will build on the relationship from there over the coming years with FJP building itself to be a solid and reliable introducer of off-plan property both in the UK and Overseas.
Broad Oaks, Downham Market
The development we have initially launched with is Broad Oaks over at Downham Market in Norfolk.
The site will be made up of some 300 properties with a mix of One Bedroom, Two Bedroom, Three Bedroom and Four Bedroom homes available to purchase.
The estimated completion of the site is the first quarter of 2023. Each property is available to purchase on a freehold basis and comes with a 10-year build warranty provided to purchasers.
The address of the development is Nightingale Lane, Downham Market, PE38 9FD.
The homes are of a very comfortable and luxurious finish and a big focus is on space. Prosperity Wealth but a big focus on high quality being utilised as part of the design, build and indeed the finish. You would be surprised just what Oversized Windows do for the feel of a property when sitting on the sofa in the living room on a Sunday morning.
- New Build Housing Estate
- Purchase price £134,995 – £354,000
- Completion due Q1 2023
- 300 properties
- Expected yield of 5%
- Freehold property
About Downham Market
Downham Market is one of Norfolk’s oldest market towns. It’s a place that oozes charm and comfort for those that live there.
The great thing about Downham Market is that it offers peace and quiet but relatively easy access to major towns of Peterborough, Cambridge and Norfolk. London is also within easy reach by train in just 90 minutes. The town dates back to the Saxon times and a visit to the town is a must.
The average property value in Downham Market 53% lower than neighbouring Cambridge. In 2020 the average property price in Norfolk rose by a whopping 15% – adding almost £30,000 to the average property.
Payment Plans – Super Attractive
Pay just 5% to reserve your property and then pay per month until project completion to cover the total 35% deposit.
For example, Unit 4 is “The Ash” for £264,955 This is a 3-bed semi-detached and comes with 2 parking spaces.
If an investor were to purchase unit 4: he or she would pay a 5% deposit of: £13,249.75 and then a monthly payment of £3,311.93 for 24 months (30%).
Prosperity Wealth have an in-house mortgage department and are able to assist with securing mortgages for both UK and Overseas residents. Of course, subject to status and the prevailing lending criteria as set by the lenders.
Prosperity aim for each purchaser to have at completion stage a deposit of some 30 to 35% as that is the sweet spot when it comes to securing buy-to-let mortgages. FJP Investment look forward to introducing investors to the Broad Oaks, Downham Market development and welcome you to reach out to us immediately to find out more.