Own Shares in Letting Supermarket

by Property 118

11:25 AM, 18th December 2014
About 4 years ago

Own Shares in Letting Supermarket

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Own Shares in Letting Supermarket

EDITORS NOTE: I have re-published this article because we are getting very close to the point of this investment opportunity being publicly available via the Crowd Cube Platform. Interested parties are advised to set up an account with Crowd Cube in order to avoid delays when shares are eventually released. When we first published the article below back in December the indicated level of interest exceeded £2 million yet only £250,000 of share will be released. This could be a fast sell-out so by setting up an account with Crowd Cube now this could help to avoid disappointment. It costs nothing to set up an account and commits you to nothing either.

The following was the content of the article released on 18th December 2014  ……

Regular Property118 readers may be aware that our founders acquired a 26% stake in Letting Supermarket two years ago when they were a start-up business. Since then we have been referring Property118 landlords to them and moving the management of our own properties across too. Own Shares in Letting Supermarket

They now manage a few hundred properties and are making profits. However, with increased marketing they will be able to leverage improved economies of scale and profits. The required funding is intended to be raised via a Crowd Funding Platform in the New Year. This is an opportunity for you to register your interest so that you stand a better chance of snapping up your shares as soon as they are released.

Letting Supermarket provide full management services at online pricing, i.e. 4% of rent for fully inclusive management (minimum £24.99 per property) plus VAT. The service is currently available in around 60% of England and Wales and coverage is expected to reach 100% within 18 months.

The company is ARLA bonded which means they have professional qualifications and carry Professional Indemnity Insurance and Client Money Protection. Administration such as advertising, referencing, rent collection, organising maintenance etc. is all centralised and qualified inventory clerks provide onsite support in terms of viewings, check in/out, periodic inspections etc.

We can’t go into the specifics of the investment, exit strategies or returns at this stage but what I can tell you is that the minimum investment will be £1,000 and that investment of more than £25,000 will also qualify for free management of up to 10 of their buy to let properties for life.

To register your interest please complete the form below. We will then ensure that you are one of the first to be sent a link to the full prospectus as soon as it is released on the Crowd Funding platform.

The fundraising target is £250,000, we expect this figure to be achieved within days of the investment opportunity first being released on the Crowd Funding platform.

Sorry but you’re too late. This project was fully funded within 7 days of the shares being available to purchase. The business is going from strength to strength. For details and testimonials from investors and your fellow landlords please CLICK HERE



Comments

Mark Alexander

13:24 PM, 18th December 2014
About 4 years ago

I said interest in this would be high, I didn't expect Expression of Interest Forms to indicate over £50,000 of potential funding within 30 minutes though! 😀
.

Neil Patterson

14:45 PM, 18th December 2014
About 4 years ago

Please note that we will not be selling or diluting any of our 26% shareholding. We are very confident about the future prospects for this business.

Amit Chada

6:04 AM, 19th December 2014
About 4 years ago

Is there any rough ETA on when the prospectus will be released?

Mark Alexander

8:41 AM, 19th December 2014
About 4 years ago

Reply to the comment left by "Amit Chada" at "19/12/2014 - 06:04":

Hi Amit

Best guest is February 2015.

I understand that most of the work is done and it should be submitted towards the end of Jan or early Feb. I have seen the initial draft but for compliance reasons I can't say too much at this stage. Compliance sign off from the Crowd-Funding platform is anticipated to be two weeks, then we can link people to there in order to view the detail.

If the response to this article is anything to go by, I suspect the required funding could be over-subscribed very quickly.

The average level of interest is at £5,000 of investment although there were 3 expressions of interest at £25,000 yesterday and one for a higher amount.
.

Rob

9:09 AM, 19th December 2014
About 4 years ago

For 25k is the free lifetime management Fully inclusive?

Mark Alexander

17:35 PM, 19th December 2014
About 4 years ago

Reply to the comment left by "Rob " at "19/12/2014 - 09:09":

It doesn't include RGI and if properties are inside the M25 it doesn't include the one off £200 London weighting fee. Other than that, yes, it applies for the lifetime of the share ownership.
.

Ian Cognito

11:36 AM, 20th February 2015
About 4 years ago

I registered but have not received an acknowledgment. How can I check that my registration was successful?

Mark Alexander

12:03 PM, 20th February 2015
About 4 years ago

Reply to the comment left by "Ian Cognito" at "20/02/2015 - 11:36":

Confirmation should have appeared on your screen in place on the form you completed.

I have checked our systems and can confirm that your enquiry is showing in your real name. I have emailed a copy to you 🙂
.

Badger

16:31 PM, 20th February 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "19/12/2014 - 17:35":

Does it include the 'tenant find' part of the equation or just the ongoing routine management?

What does it *NOT* include?

I know that last one is a 'how long is a piece of string' question but it is also a very important one.

Chris Sheldon

16:40 PM, 20th February 2015
About 4 years ago

Reply to the comment left by "Badger " at "20/02/2015 - 16:31":

Hi Badger

It includes everything except for the setup fee for properties inside the M25 (£200 + Vat) and RGI insurance, we do not charge any additional or upfront fees.

Any questions then please do not hesitate to ask, and we will try to answer them as best we can but as has been mentioned we cannot go into too much detail until the pitch has been approved by crowd cube.

Kind Regards

Chris

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