An ISA investment set to fund four housing projects in North-West
An Innovative Finance ISA is being used for four developments across the north-west, which will create nearly 1,000 homes.
Investment raised through Fluid Bond, an investment service launched in Manchester, recently made its first payouts to investors. The ISA is set to fund four property developments in the north-west, which will predominately provide apartments.
Three property development projects in Manchester
Three of the projects are in Manchester, where residential construction has reached record levels and office development is surging. Two of the developments are situated on the northern edge of the city centre near Ancoats Urban Village. These two projects alone will provide more than 500 residential apartments and ground floor commercial space with an estimated gross development value of £67m.
The other project in Manchester is north of the city centre, a two-minute drive from Manchester Area, and conveniently located close to one of the main access routes into the city. With an estimated gross development value of £83m, this project will create 420 residential units, in addition to retail space on the building’s ground floor.
Another development in the north-west
With easy access via a motorway, the other development sits in Widnes, Cheshire and is part of a regeneration project that’s developing unused land into a new community. Expecting to have a waste-to-energy plant producing electricity on site, the gross development value of this project is estimated to be £45m.
Ansar Mahmood, founder of Fluid Bond, stated: “Investment into the Fluid Bond is enabling the development of much-needed residential properties in the north-west – one of the fastest growing areas of the UK – whilst also potentially providing bondholders with a steady and reliable source of income.
“In the current climate, high-street and second-tier banks are becoming increasingly reluctant to lend, especially in unregulated markets. My aim is to ensure that both developers and investors, and the region as a whole, benefits from funding the ambitions of exciting projects in the north-west.”
Article can be found on: www.buyassociation.co.uk