HAB Land, part of the developer HAB (Happiness Architecture Beauty) started by Kevin McCloud in 2007, has announced the launch of a “mini-bond crowdfund” aimed at sustainable housebuilding projects.
Having secured over £600,000 of investment in the pre-launch phase from its existing partners and investors, HAB said the mini-bond has a maximum target of £3m and will offer an 8 per cent gross annual return over five years. Entry level is £1,000 with a minimum two year term.
Commenting on the launch, McCloud said:
“The response to our new fund-raise from our current investors has been outstanding and we’re now very excited to open this opportunity to all. As stakeholders in a triple bottom line business, our investors will be able to see potential returns through social and environmental means as well as gaining a good financial return.
“We’re a team of dedicated, passionate professionals, building innovative housing schemes and changing the way the UK approaches housebuilding. We don’t just build homes; we make streets and neighbourhoods proper places. Our mini-bond supports that.”
The launch of the mini-bond comes off the back of recent success for HAB, having just sold the final custom-build house at The Acre in Oxfordshire and two thirds of its Lovedon Fields project in Winchester off plan.
Kevin McCloud launched HAB with the aim of “challenging the way identikit volume housing is built in the UK.” The company claims to have broken records with its previous crowdfunding opportunity, raising 197 per cent of the target before closing. HAB is working in partnership with CODE Investing on the new crowd-fund and anyone interested in investing will need to register via the CODE Investing website.