Shojin Property Partners has secured over GBP2.1 million for development projects with projected annual returns of between 20-25 per cent, just six months since the launch of its FCA regulated crowdfunding platform.
Since inception, the firm has backed 15 separate developments with a projected GDV of GBP120 million and has attracted more than two thousand members, including high-net-worth individuals, millennials and corporates who have invested a minimum of GBP5,000.
The firm’s latest project to complete is The Royal Crescent Apartments in Southampton. The company acquired the site in 2015 and worked with the council to improve the original design and increase the number of units from 88 to 101. The scheme comprised of a collection of one and two-bedroom apartments set over seven floors with underground parking and over 5,000 square feet of commercial space. The value of the completed development is GBP22 million.
Jatin Ondhia, CEO of Shojin Property Partners, says: “As a crowdfunding company, our projects have been highly successful because we co-invest our own funds into every project and our interests are always aligned with our investors. We charge no management fees and share the profits with investors once the project is completed.
“Our network of property developers approach us regularly with projects that need funding. We ensure every project goes through our three stages of due diligence and only present to our investors the developments which meet our stringent criteria.
“Since the launch of our crowdfunding platform, we have seen investors from all walks of life and across a broad age range, investing in our projects, from as little as GBP5,000. We now offer investors the opportunity to invest across the entire property spectrum. Our success is down to the broad range of investment opportunities we offer, including buy to let, bridging; mezzanine; and development finance.
“Southampton was a very exciting project and milestone for the company as we managed to raise GBP2.3 million in just over four weeks which was a great achievement for the team and a testament to how popular this particular project was with our investors.
“Our founders have a strong track record of investing in successful residential property development projects across the UK and all of our projects have been successful.”
Shojin Property Partners was founded by Jatin Ondhia, who spent 12 years at UBS optimising large institutional portfolios and Sandeep Puri, a qualified quantity surveyor who has worked for several large homebuilders including Redrow and Wimpey.