Since the public launch just a week before, some £1.2 million has been raised in addition to the pre-launch total of around £666,000 that came from the HAB family of staff, friends and investors. Code Investing undertook the first close with £1,714,000 from 186 investors on the dial.
The HAB Land Mini-Bond crowd fund remains open with 8 per cent Gross AER over five years – with a minimum two-year term. Interested parties can still take advantage of the 8 per cent rate until 15th February when the rate then becomes 7 per cent. The crowd fund now has an extended target of £3 million.
Commenting on the crowd fund performance to date, Kevin McCloud, Chairman of HAB Housing and Director of HAB Land, said: “We knew that our mini-bond crowd fund would present investors with an attractive opportunity to join us and help deliver our ambitions. This outcome confirms that. We are set on our course to change the way the UK approaches house building whilst delivering triple bottom line returns. There is still time for others to become part of our HAB investor community as our mini-bond fund raise is still open for business.”
The Mini-Bonds you are considering buying will be an illiquid (they lack the ability to be sold quickly or without substantial loss in value), non-transferable investment, which will lock up your money for at least 2 years. You may lose some or all of your capital should you invest. There is no guarantee that the Company will be able to repay any or all of the nominal amount and interest payable.