The two-bed flat in Byfleet, Surrey, went online at 3pm on Thursday last week and by 3.35pm, a total of 126 investors had bought all the shares in the flat, a fundraise of £212,900.
This opportunity attracted investors from all over the UK, each investing an average of £1,700 each. The leasehold property is just 28 minutes to Waterloo by train and is in the heart of the commuter belt.
Property Partner, which launched in January, 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, twelve properties with a total value of £3.5m have listed on the property crowdfunding platform. The properties range from a £165,000 flat in Ilford, North-East London, to a £435,000 flat in Whitechapel, East London, situated close to a future Crossrail station.
Over 25,000 people have signed up to Property Partner since it launched in January, and nearly 2,000 have made investments through the platform thus far, with individual investments ranging from £50 to over £70,000.
Dan Gandesha, chief executive of Property Partner, said: “This latest fundraise breaks all our previous records. To fully fund in just over half an hour beat all our expectations.
“On average, our properties are reaching their funding targets in thirteen days, and as more people hear about the investment opportunities, that time is getting shorter and shorter. The Byfleet property is a prime example of this.”
