The House Crowd acquire leasehold on Historic Building in Manchester
The Manchester crowdfunding #PropTech platform that is ‘House Crowd’ have reportedly invested in the leasehold of upper floors within an historic 19th century building towards the city centre. The 250 leasehold interest is within the building of 5-17 Chapel Walks and will see 16 new apartments created within it in due course.
The House Crowd concept raised £2.5 million for the project via its crowdfunding web platform and works are due to start during the Spring of this year.
Simon Barrs who is asset manager of Chancerygate (who obtained planning consent and permitted development rights to convert the project), was quoted as saying: “We are very pleased to secure the sale of a long leasehold interest of these three properties. We look forward to working with The House Crowd Group team as they bring this exciting development project to fruition.
We will be reinvesting the proceeds of the sale into securing further opportunities to expand our fund’s portfolio.”