12 August 2013
Self build champion Kevin McCloud’s housing development company, Hab Housing, has surpassed its investment target, securing £1m via crowdfunding website Crowdcube to grow and expand its business. The £1m raised to date has been invested by more than 300 individuals pledging amounts ranging from £100 to £150,000. The company plans to invest in growth and to move into the Custom Build housing market, and aims to offer investors a 5% dividend by the end of 2016.
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Hab will continue to pursue funding up to a pre-set cap of £2m, and the company is currently considering an extension to the current closing date of 24th August 2013 to accommodate a surge in investor interest.
Kevin McCloud said: “With a host of new opportunities already being offered to us following the crowd process, it’s now a case of nose to the grindstone to deliver on Hab’s promises.”
Hab, established in 2007, aspires to lead the growth of the custom build market in the UK. Its first scheme delivered 42 homes at The Triangle, Swindon and it is currently on site with a second 78-home scheme in Stroud. Planning permission has just been obtained for three projects in Oxford offering a total of 108 homes, retail space and a sports and community centre.
The Self Build Portal recently revealed that the company, in collaboration with housing association GreenSquare, has agreed an option with a landowner for a major development for up to 1,500 homes on the banks of the River Severn, south of Gloucester.
