Lorne Street Bakery
This is an old bakery in the heart of the Welsh Marches Boarder Town of Oswestry. The population has doubled since 1990, making it the third largest town in Shropshire. In addition to Sainsbury and Costa Coffee shop, there is now a M&S, opening in August.
It is a Victorian red brick construction, measuring 120 metres over two stories. It has detailed planning persmission to convert into two flats.
Today my offer to purchase the property was accepted. I am to buy the building and the gated driveway. I have also bought an option on the house which you can see on the right of the picture. This option is open for six months following competion on the Bakery.
My aim is to provide two entry level flats in a joint financial venture with the bank, family members and friends on an interest and profit sharing basis.
I am hoping the financial dealings will be done by mid July. The scaffold goes up end of July for the builders to start in August. The roof goes on first, then the repointing and then the scaffold comes down. The rest of the work is largely indoors before the ground work is done.
Flats will be marketed in November and sold in December. I then take a view whether I realise the option on the house, or lose my deposit.
From now on, I will be updating the Tyn-y-Waen blog site with the developments rather than dominating this site with a day by day progress report.
This is one of the most challenging and risky projests that I have yet undertaken. I welcome any support and encouragement that you may have. This may take the form of ideas, information or sharing contacts, whatever help you can offer will be gratefully received.
Wish me luck!
posted by Daniel and Beth at Wednesday, June 06, 2007
1 Comments:
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