BUILDING A BETTER BARKING: EAST LONDON PROPERTY BOND RAISES £5.4M – JUST UNDER TWO WEEKS LEFT TO ACCESS 10% INCOME PER ANNUM
• Crowdfunding platform CrowdBnk has received £5.4 million in applications since the mini-bond’s launch, its largest fund raise to date.
• LMSL Group’s East London Property Bond is a five-year, fixed-term mini-bond offering an interest rate of 10% gross interest per annum for investments from £1,000.
CrowdBnk has today announced that investors have just under two weeks left to secure an investment in LMSL Group’s East London Property Bond, a five-year, fixed-term mini-bond which offers an interest rate of 10% gross interest per annum for investments from £1,000.(1)
Investors have flocked to the mini-bond – which is secured against LMSL’s Barking Magistrates Court Development – since it launched on CrowdBnk, with the investment opportunity seeing commitments from investors hit £5.4 million so far.
The combination of a secured property asset, a yield of 10%, and a five-year term has captured the attention of backers, with under two weeks left before the offer closes.
Set to become the largest fundraise in CrowdBnk’s history, the East London Property Bond will be open for applications until 31 October 2015, but this window may close early if the £9m target is reached.
LMSL Group will use the proceeds raised as investment capital for planned developments in line with LMSL Group’s investment strategy.
Lahrie Mohamed, CEO, LMSL Group, said: “We’ve been seeing significant interest from potential investors in the mini-bond since we launched back in September, and what’s been most pleasing to see is that investor appetite has come from a range of different sources.
“In recent days interest has spiked, and we hope that those who are considering an investment don’t leave it too late and miss out on the opportunity.”
For further details, or to apply for the mini-bond, please visit CrowdBnk’s website at: https://www.crowdbnk.com/p/East-London-Property-Bond.
Notes to editors:
(1) RISK WARNING: You may lose some or all of your capital should you invest as the assets on which the bond is secured may not be sufficient to pay back your investment in all circumstances. Please read the specific risk factors for The East London Property Bond. East London Property Bonds are not protected from loss by the Financial Services Compensation Scheme. CrowdBnk Ltd is authorised and regulated by the Financial Conduct Authority (No. 627852).
CrowdBnk is an investment crowdfunding platform that allows you to invest in UK businesses through equity and debt.
CrowdBnk provides every registered investor with full access to businesses that pass our selection criteria and make it through our rigorous due diligence process, we call it the CrowdBnk Bootcamp. So far, over £17 million has been invested in 19 businesses and thousands have signed up to receive our weekly investment insights.
The LMSL Group is a well-established property and investment development company operating in East London. The Group was founded in 1998 by husband and wife team Lahrie Mohamed and Shehara Lahrie when they purchased their first buy-to-let residential property. In 2001, they undertook their first residential development project and in 2015 the Group has a total portfolio of over 160 properties with a market value in excess of £50 million, which generates £2.7 million rental income per annum.