HAB Land, part of Kevin McCloud’s HAB family of environmentally-conscious property companies, has launched a “Mini-Bond crowd fund” to raise up to £3m, having already secured over £600,000 during the pre-launch phase from friends, family and existing partners.
Money raised will be used to acquire land and site opportunities for future development by HAB Land’s sister company, HAB Housing. HAB (which stands for “Happiness Architecture Beauty”) has been doing pretty well recently, completing the sale of the final house at The Acre in Oxfordshire just before Christmas, and selling over two-thirds of its Lovedon Fields scheme near Winchester off-plan.
The Mini-Bond is open to all, with a minim investment of just £1,000 (the same as super-prime crowdfunding platform CapitalRise), and offers an 8% gross AER return over five years.
This is HAB’s second go at crowdfunding; an initial offering was a rousing success, raising 197% of the target before closing. The firm is now partnering with well-established investment marketplace CODE Investing to make sure everything is legit and secure.
Kevin McCloud, Chairman of HAB Housing and Director of HAB Land: “The response to our new fund raise from our current investors has been just outstanding and we’re now very excited to open this opportunity to all. As stakeholders in a triple-bottom line business, our investors will be able to see potential returns through social and environmental means as well as gaining a good financial return. We’re a team of dedicated, passionate professionals, building innovative housing schemes and changing the way the UK approaches house building. We don’t just build homes; we make streets and neighbourhoods – proper places. Our Mini-Bond supports that. It’s only available whilst stocks last, with a target maximum fund raise of £3m, so allow me to urge you to hurry and join our community of like-minded investors.”