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Empire Property Holdings' UK property 'mini bond' delivers

Empire Property Holdings (EPH), which launched a mini bond in February 2016 for the UK residential lettings market, said it has proved a resounding success with investors. The firm said investors were repaid their initial capital investment from 1 February, in addition to having received interest of up to 27.2 per cent.

The mini bond attracted £6,000,000 within 10 months of its launch from investors who made investments of between £10,000 and £220,000.

EPH 1 offered 2 year income or 2 year growth options.

The firm was formed as a Special Purpose Vehicle (SPV) to acquire commercial properties in Northern towns, including Bolton, Pontefract and Wakefield, for development into residential accommodation by the developer, Empire Property Concepts.

The property development company is owned by Paul Rothwell and Empire Property Holdings is co-owned by Rothwell and Rick Barrow. The 33-year old entrepreneurs have a strong track record in the acquisition of commercial properties for development into quality flats for the rental market.

Since launching its first mini bond in 2016, Empire Property Holdings has gone on to launch two more . The first of these, EPH 2, launched in November 2016, attracted £12 million (offering yields of up 60 per cent over 4 years). EPH 3 was launched a year later with a target raise of £24 million.

Speaking about the success of his property investment company, Rothwell said, “We have a proven track record for the development of commercial property into residential accommodation for the rental market.

“Where possible we are taking advantage of permitted development rights to renovate the properties, and this has been a key factor in our success as we are able to bring properties to market in a timely manner.

“Our focus has been on Northern towns, where we are acquiring town centre buildings and giving them a new lease of life. The properties’ locations mean they have excellent amenities right on their doorstep, as well as great transport links. Our developments ( Including Hadrian's Tower in Newcastle) are proving to be very popular and the majority have been let off plan, or within weeks of becoming available. This has been a key factor in our success.”

Speaking about the importance of a UK property base, Barrow said, “One of the things that sets us apart is that we are offering a really tangible investment that’s here in the UK.

“We are really open with our investors in regards to the properties we are acquiring and how our build programmes are progressing. Many actually go to site[s] so that they can see where their money is going and we are always delighted to facilitate this.

“Two years on from launch of our first mini bond we have paid all our interest payments as planned and the capital repayments now being made are absolute proof that our model is working.”

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