£6m resi-buy-to-let investment in six months
Nearly two thirds (63%) of Property Partner’s investors have bought shares in multiple properties – with individual investments ranging from £50 to over £100,000.
Dan Gandesha, CEO of Property Partner, said: “This is a huge achievement so soon after launch and we couldn’t have done it without our rapidly growing community of investors.
“The reality is that buying a residential investment property on your own is more like starting a business. Through Property Partner you can diversify your investment across multiple properties – all in a matter of minutes.
“And, the recent Budget announcement by George Osborne, that mortgage interest relief will be cut for traditional buy-to-let landlords, further strengthens our appeal as an alternative way of investing in residential property.”
Property Partner has listed 23 properties to date on the platform, ranging from flats in Whitechapel and Woking to houses in Hounslow and Hayes. All the properties listed on the platform have been fully crowdfunded in a matter of days, with the average fundraise period being nine days.
Last month, a two-bed flat in Tower Bridge – Property Partner’s most expensive property to date – went online at 1pm and by 1.35pm the fundraise of £509,600 was reached. Investments were coming in at a rate of £242 a second.
Property Partner enables people to invest in individual residential properties, just as they can in company stocks. They then receive a monthly rental income — and benefit from any capital growth — in direct proportion to their ownership.
The platform also allows investors to offer their property holdings for sale via a designated secondary market. So far almost £1 million of “resale” shares have already been traded on the so-called “property stockmarket”.