From Guest House to Modern Residences

The Leatherhead project has reached full completion. What began as two semi-detached houses, one a private residence and the other trading as the Swan Guest House, has been redeveloped into a five-storey residential block. The finished scheme delivers nine modern apartments, including one one-bedroom unit and eight two-bedroom units, together with an undercroft parking facility. For Modus, this represents the successful delivery of our first listed development and sets a clear benchmark for future projects.

Strong Financials and Exceeding Returns

Over a term of 144 days, investors realised returns of 9.5 percent, which is the equivalent of 24 percent annualised. These results exceeded initial expectations. Investors were positioned as preferred equity holders, meaning their capital and profits were paid before developer distributions, adding an additional layer of protection.

Location Advantage

Leatherhead is a market town in North Surrey with strong commuter connections and access to local amenities. The property is within walking distance of both the town centre and the mainline station, with trains to London Victoria in under 45 minutes. The area is popular with young families due to a range of highly rated schools, as well as good shopping and leisure facilities. Recent sales of similar units in the area achieved more than £500 per square foot, supporting the view that the projected GDV was conservative.

Investor Protections Built In

Risk management was central to the structure of the development. A fixed-price build contract ensured that any cost overruns were borne by the developer rather than by investors. Sales risk was reduced through the option of pre-sales and refinancing, allowing for faster repayment timelines. By holding preferred equity, Modus investors were protected from fluctuations in gross development value and positioned to receive their distributions ahead of the developer’s own returns.

Proof of Concept for Tokenised Equity

Leatherhead demonstrates that the Modus model works in practice. Investors from the United Kingdom, Latin America, the Middle East, and Asia were able to participate digitally and settle using USDC. Their returns are now being processed by our partners at NAB Engineering and distributed directly to investor wallets. The project shows how tokenised equity, stablecoin settlement, and investor-first reporting come together to deliver tangible results in property development.