In an attempt to set up democratize property investment, ShareProperty was created. The fintech and commercial property investment business is able to crowdfund property developments. This process allows individuals to invest in properties and start developing their investment portfolios. People can invest in the scheme for as little as £100.
ShareProperty has now released news about its first raise completion. This means the investment company has enough to buy a commercial property at a high standard. The first investment will be located in Stratford, a highly desirable area a few minutes away from the Olympic Park.
The company has been able to raise over £34,000 in order to purchase the commercial property. Therefore, investors in the crowdfunding scheme can now start to build a property development portfolio that is of investment grade.
ShareProperty was founded by The financial-technology entrepreneur George Grigg and former City investment banker David Rees. These two financially savvy individuals have enough sector experience in order to create the investment business. The pair successfully managed to raise just under £150,000 in 4 days as part of a Seedrs project to get up and running. The aim of ShareProperty is to widen the property investment market and allow more people to get into property investment. This will widen the sector more than it ever has been before, with people able to invest for relatively small amounts, such as £100.
ShareProperty also uses partners in the business and experts in the industry to manage the investment process. This creates a reliable foundation for first time investors, and allows them a position only usually open to larger scale investors or investment companies.
The first crowdfunded ShareProperty is an East London is called Regent 88. The unit is a popular serviced office development. Situated in Stratford, an up and coming area that has received £12.5 billion of public and well as private sector investment due to the London Olympic Games in 2012.