While CrowdProperty reached another milestone in funding over £500m of projects, CrowdProperty Australia has reviewed over $300m of project applications in its first 12 months and launches a new Partner Fund.
UK reaches another milestone
Our colleagues at CrowdProperty in the UK recently reached a significant milestone in funding over £500m (A$875m) of property projects. This coincides with a record month in May with funding across £42m (A$73m) in facilities for the construction of small-scale residential property projects.
In total, CrowdProperty UK has now funded the construction of 2,360 homes.
This follows a busy three months for the UK company where is also launched CP Capital, a second mortgage mezzanine finance product for property developers, and comes 12 months on from launching CrowdProperty Australia.
Australia off to a strong start
The Australian operation is also going from strength-to-strength having reviewed over $300m of property project finance applications in 12 months, funding $10m and completing its first project loan, paying back investors’ capital and interest, many of whom rolled into a new project.
New fund launching
CrowdProperty Australia is soon launching its new Partner Fund designed to help borrowers settle development sites quicker, across various expertly curated development projects via our online marketplace platform.
Australian industry research^ revealed that between 2025 to 2032, Australia will find itself 163,400 homes short of expected demand. However, according to a CrowdProperty survey* (UK), 42% of small-scale developers say speed of funding is the biggest barrier to developing more homes. Small-scale property developers need simpler, faster, and more certain access to funds to develop their projects.
CrowdProperty Australia’s new Partner Fund is designed to alleviate this in having capital ready to deploy fast for borrowers, while returning quarterly target income return* distributions to its wholesale investor members.
*Target returns, not forecast returns. For wholesale investors only. Terms, conditions and risks apply.