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TODAY'S OTHER NEWS

Shojin Property Partners secures £2.1m via crowdfunding platform

Shojin Property Partners has secured over £2.1 million for development projects following the launch of its crowdfunding platform six months ago.

The firm has backed 15 separate developments with a projected gross development value (GDV) of £120 million and has gained a minimum of £5,000 from its 2,000-plus members.

“As a crowdfunding company, our projects have been highly successful because we co-invest our own funds into every project and our interests are always aligned with our investors,” said Jatin Ondhia, chief executive officer of Shojin Property Partners.

“Our network of property developers approach us regularly with projects that need funding. We ensure every project goes through our three stages of due diligence and only present to our investors the developments which meet our stringent criteria.”

He said the firm’s success is down to the broad range of investment opportunities it offers, including buy-to-let, bridging, mezzanine and development finance. This has attracted investors from all walks of life and across a broad age range.

Shojin’s latest project to complete is The Royal Crescent Apartments; a scheme comprised of a collection of one and two-bedroom apartments set over seven floors with underground parking and over 5,000 sq ft of commercial space. The company acquired the Southampton site in 2015 and worked with the council to improve the original design and increase the number of units from 88 to 101, which boosted the value of the completed development to £22 million.

“Southampton was a very exciting project and milestone for the company as we managed to raise £2.3 million in just over four weeks, which was a great achievement for the team and a testament to how popular this particular project was with our investors,” Ondhia added.

“Our founders have a strong track record of investing in successful residential property development projects across the UK and all of our projects have been successful.”

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