Investors paid 21.29p per share in the New Listing for this property, and it became available on the Resale market June 5th 2015.
This is an unusual transaction, and plays to our collective strength as a cash buyer – with the added benefit of deep market knowledge.
- It’s a leasehold property where the building’s freeholder (an investor) is going through bankruptcy proceedings. The resolution is ultimately a simple one: the freehold title will likely be sold by the administrator, who is acting on behalf of a bank.
- However, administrative proceedings involving a bank can be drawn out and take several years. In the meantime, no one can secure a mortgage to buy any of the leasehold properties in that block.
- Owing principally to this, we were able to negotiate a 20% discount relative to the RICS certified Vacant Possession value – paying £204,540 instead of £255,000. We expect investors to later benefit from the uplift in value, in addition to an enhanced rental yield provided by the capital discount.
- The property is set within an attractive area of the South East and inside London’s M25.
Read more detail on the investment case here.
Director of Property
Global Director of Residential Property at RBS
Fund Manager, running £500m residential portfolio at Invista Real EstateMember of the British Property Federation’s Residential Committee
Non-executive director of Funding Circle and LMAX Exchange
Vice President J.P. Morgan & Co
Co-founder, Index Ventures
Non-executive director of companies including Funding Circle and Stack Exchange
Board member of Human Rights Watch
20 years’ experience in scalable web development
Technical Due Diligence advisor for Octopus Ventures
Architect of Comdirect Bank’s online trading system
Director at Octopus Ventures
Non-executive director of companies including SwiftKey and Amplience Managing Director, Oliver Woodworth (property development company)
General Counsel and Director of Legal & Compliance at Betfair
Betfair from startup to IPO
Over 20 years as a lawyer in private practice and in-house
Sports Operations Director at Betfair
COO Sports Betting at GTECH
Founder and CEO
Corporate Venture Capital at Sky Plc
M&A advisor at Sky Plc and KPMG
Chartered Accountant and FCA Authorised Person
M&A Director at Sky Plc
Investment Banking Advisory at Morgan Stanley
About Property Partner
Property Partner is a crowdfunding and investment platform that makes it possible for anyone to invest in residential property at the click of a button. Investors can buy shares in individual properties or residential blocks, for as little or as much as they like. Property Partner finds the tenants and professionally manages the properties. Investors receive rental income in proportion to the shares they own and, through our unique secondary market, can exit their investment at a time and price of their choosing.
Property Partner is the trading name of London House Exchange Limited, a private company registered in England and Wales under registration number 08820870 and at registered office 71 Queen Victoria Street, London EC4V 4AY, United Kingdom