Hythe, Kent (PRWEB UK) 5 October 2017
The recent launch of an equity crowdfunding campaign by seasoned property developer, MELT Homes is a prime example of how crowdfunding is now being used to fund property development projects.
Set up by Evan Maindonald, a New Zealander who has been living in the UK since 1992, MELT Homes undertook it’s first development in 2002. Over the last 15 years, MELT Homes has built it’s property development business using traditional sources of Senior and Mezzanine debt to fund it’s developments.
The launch of an equity crowdfunding project to fund ONE62, their development in Hythe, Kent, represents a new way of funding property development projects for the company. MELT Homes plan to use this method of funding more widely in future in order to grow their development business faster.
Returns are profit based and are forecast to be around 30% over a 12 month period with a higher return for investments of over £25,000. The total amount being raised is £150,000 and the minimum investment is £1,000. Hythe is a local property hotspot where the market is very active and so MELT Homes expect to pre-sell the development prior to completion.
Giovanni Scialo, Marketing Manager at MELT Homes said, “We’re testing this as a new way of funding developments by opening the project’s funding to individual investors. If it works well on this project, we’ll use it to raise equity on other projects in order to enable us to grow our development business faster.”
MELT Homes are working with crowdfunding platform Simple Equity to fund the project. Simple Equity’s platform links smart property professionals to smart investors to deliver simple access to property crowdfunding and peer to peer lending.
ONE62 was designed by Guy Hollaway, a leading UK architectural firm whose main office is located locally in Hythe. The building is a bespoke contemporary design which includes six spacious high specification apartments which all feature balconies and/or outside space.