The case for crowdfunding in property continues to build, as HAB Land – the firm run by television’s Kevin McCloud – has announced that an initial £1m target was reached within four days of launching its public crowdfunding offer.
This success follows three £1m funding projects by super-prime crowdfunding start-up CapitalRise. Read about the most recent project here.
HAB Land opened up its 8% gross AER “mini bond” to everyday investors – anyone with £1,000 or more to spare – after bringing in £600,000 from a closed “friends and family” round (read all about it on PrimeResi here). The big £3m target is now coming up fast. Funds will be used to acquire development sites for future schemes by sister company HAB Housing.
Kevin McCloud, Chairman of HAB Housing and Director of HAB Land: “To see the level of interest and commitment from like-minded investors in our crowd fund has been heart warming. It is clear that people, as investors, believe in our passion for sustainable living spaces with gorgeous houses, great design and the natural world. Whilst our initial fund raise level has been met, there is plenty more opportunity for others to invest as we seek to crowd fund £3m. Why not join us?”