{"id":223,"date":"2015-01-19T15:42:07","date_gmt":"2015-01-19T15:42:07","guid":{"rendered":"https:\/\/blog.propertypartner.co\/?p=223"},"modified":"2019-02-20T17:26:48","modified_gmt":"2019-02-20T17:26:48","slug":"property-partner-launches-to-the-public","status":"publish","type":"post","link":"https:\/\/www.londonhouseexchange.com\/blog\/property-partner-launches-to-the-public\/","title":{"rendered":"Property Partner launches to the public"},"content":{"rendered":"

London, UK – 19 January 2015<\/strong>: A new and innovative way for people to invest in the UK residential property market is here. Property Partner enables people to invest in individual residential properties, just as they can in company stocks. They then receive a monthly rental income \u2014 and benefit from any capital growth \u2014 in direct proportion to their ownership. The platform also enables investors to offer their property holdings for sale via a designated secondary market.<\/p>\n

Property Partner has brought simplicity and transparency to a residential property market that has traditionally had high barriers to entry. The launch follows a \u00a31.25m seed funding round involving Octopus Investments (backers of Zoopla), Seedcamp (Europe\u2019s top acceleration fund), Jon Moulton (founder of Alchemy Partners and Better Capital) and Ed Wray (co-founder of Betfair and Director of Funding Circle). <\/p>\n

One of the UK\u2019s most experienced residential property professionals, Robert Weaver, is joining Property Partner as Director of Property. Robert was formerly with the Royal Bank of Scotland where he was Global Director of Residential Investment. Prior to that, Robert was Fund Manager at Invista Real Estate Investment Management, running a \u00a3500m residential property portfolio. Robert is also a member of the British Property Federation\u2019s Residential Committee.<\/p>\n

Robert\u2019s deep understanding of the residential property market will complement the senior team\u2019s experience in tech, finance and marketing. <\/p>\n

How does it work?<\/div>\n

So how does it all work? Property Partner identifies locations and individual properties that are likely to be attractive to investors. Property Partner then lists each property on its platform with the resources prospective investors need to arrive at an informed decision: photos, floor plans, a report and valuation from the chartered surveyors, title report from the lawyers and financial information, such as predicted income.<\/p>\n

Investors can choose to invest in a property with as much or as little as they like. When the transaction closes, they jointly own the property with any other investors in the same property and receive their share of rental income each month.<\/p>\n

Property Partner operates a transparent and simple fee structure:<\/p>\n

\u2022\tA one-off transaction fee of 2% charged on purchase of your investment (not annually recurring and no charge on disposal)
\n\u2022\tAn industry standard rate of 12.5% (+VAT) of rental income for the three services of advertising, letting and managing the property <\/p>\n

Crucially, Property Partner investors can realise any capital gains by offering their investment for sale to others on the platform at any time. After five years, the platform also gives everyone the option to exit at market value, even the investor who put the least amount of money into the property.<\/p>\n

First property successfully funded<\/div>\n

Property Partner has already successfully funded one property, a three-bed Victorian house in Croydon, South London, as part of its \u2018beta\u2019 launch to a closed group. The funds to purchase the property were raised in 21 days from 148 investors. \u2018Resale\u2019 shares in the Croydon property are now available on Property Partner\u2019s site.<\/p>\n

The other properties currently available to investors on Property Partner are a two-bed house in Hounslow, West London, and a two-bed flat within a warehouse conversion in Whitechapel, walking distance from the City of London.<\/p>\n

Additional properties will be added to the platform in the very near future. In the longer term, Property Partner intends to offer properties not just in the UK but internationally.<\/p>\n

Daniel Gandesha, CEO, Property Partner, commented:<\/p>\n

\u201cTime and time again I wanted to invest in residential property in a particular area. I would see nice coffee shops starting to pop up, steady increases in the number of estate agents setting up shop, regeneration plans being approved \u2013 but still didn\u2019t make the step. The reality is that buying a residential investment property is more like starting a business than making a simple investment. <\/p>\n

\u201cWe set out to make investing in residential property as easy as buying shares. We\u2019ve overcome significant financial, regulatory and technical challenges to make this a reality and the strong demand for our first property reinforces my belief that we have built something investors really want.<\/p>\n

\u201cWe have the backing of heavyweight angel investors and the VC firm that backed Zoopla. We\u2019ve just recruited Jalin Somaiya from Google, as our COO, and Robert Weaver from RBS. Rob is one of the UK\u2019s leading residential property professionals. He\u2019s managed a fund that held half a billion pounds of residential property and gave the keynote at the RICS conference last year. This is a great team and we believe we\u2019re offering something truly unique to investors.\u201d<\/p>\n

 
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