Whittingham Road, Longridge
Longridge, Preston — PR3 2AB
An 8.7-acre residential development site with 118 proposed homes, 100% affordable — with a greenfield offer from Places for People. Housn is raising £330,000 of planning-stage funding to take the scheme through to consent and sale.
£330,000
investment required
100%
minimum return
118
proposed homes, 100% affordable
8.7
acre residential site
The Opportunity
Planning-stage funding with an exit already agreed
Housn Property Group is seeking £330,000 of planning-stage funding to progress a 100%-affordable residential scheme on an 8.7-acre site at Whittingham Road, Longridge. The site benefits from a greenfield offer from Places for People, with pre-application feedback from Preston City Council favourable to a 100%-affordable, socially-focused scheme.
The investment funds the planning costs — technical surveys, application fees and the professional team — through to grant of planning consent and sale to Places for People.
Planning position
Pre-application feedback from Preston City Council is favourable to the scheme, contingent on a 100%-affordable / social-impact tenure mix.
The 100%-affordable route secures CIL exemption and avoids the Policy 7 mandatory affordable-housing deduction that applies to open-market schemes.
Exit is agreed with Places for People at £7,400,000, all-in — planning costs are recovered from within this figure.
An open-market alternative at the 73-unit CLLP allocation was appraised and does not clear the £4,100,000 land cost — the 100%-affordable / Places for People route is the only viable structure identified to date.
Site details
- Address
- Whittingham Road, Longridge, PR3 2AB
- Site area
- 8.7 acres (8.03 acres developable)
- Purchase basis
- Land only, 2 existing dwellings excluded
- Access
- 10m wide access retained
- Land purchase price
- £4,100,000
- Scheme design
- 118 units, 100% affordable
- CLLP allocation
- 73 units (32 + 41 across 2 titles)
Investor snapshot
- Investment required
- £330,000
- Structure
- Planning-cost funding, capital refunded first
- Exit trigger
- Planning consent + PfP completion
- Security
- To be confirmed
100% Minimum Return
Exit agreed with Places for People
Figures are indicative and returns are not guaranteed. Capital at risk. Available to eligible investors only.
The Numbers
Returns waterfall
From the agreed exit with Places for People down to the estimated profit pool for split.
Exit — Places for People
£7,400,000
Less: land purchase price
(£4,100,000)
Estimated net proceeds
£3,300,000
Less: estimated project related costs
(£500,000)
Less: planning costs refunded to investor
(£330,000)
Estimated profit pool for split
£2,470,000
£330,000
capital refunded
100%
minimum return
Figures based on the Places for People offer, which remains subject to survey-based deductions and funding / board approval. Returns are not guaranteed.
Why This Works
A de-risked route to planning value
Four features that set this planning-stage opportunity apart from a speculative land promotion.
Exit price agreed
The exit price is agreed with a Registered Provider — not a speculative open-market sale.
Reduced planning risk
The 100%-affordable route is the scheme favoured at pre-application stage by Preston City Council.
Value-maximising route
The alternative open-market appraisal confirms this structure is the value-maximising route for the site.
The Scheme
Proposed site layout
Feasibility layout — 118 units, 100% affordable, on 8.03 developable acres.
Also from Housn
Millingford Brook, Golborne
68 new homes near Haydock Racecourse — a fixed-term Fund & Develop opportunity.
Important notice to investors
This page is a summary of an investment teaser prepared by Housn Property Group for discussion purposes only. It is directed only at persons who are ‘investment professionals’ within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FinProm); persons believed on reasonable grounds to be ‘certified high net worth individuals’ within the meaning of Article 48 FinProm; persons who are ‘certified sophisticated investors’ within the meaning of Article 50 FinProm; and persons who are ‘self-certified sophisticated investors’ within the meaning of Article 50A FinProm. It must not be relied upon by anyone else and does not constitute a prospectus, financial promotion, or offer capable of acceptance.
All figures are indicative, based on current planning assumptions, an uncompleted technical survey programme, and a Places for People offer that remains subject to survey-based deductions (S106, biodiversity net gain, abnormals etc) and funding / board approval. This is not financial advice; prospective investors should take independent legal and financial advice before proceeding. Returns are not guaranteed and your capital is at risk.