The SyndicateRoom platform, which is used by both angel investors and sophisticated private investors and has a minimum investment requirement of just £1,000, smashed its fundraising target of £2.1million in just 3 weeks.
“Throughout its almost 20 year history, AIM has always supported innovation of all kinds which is why I’m delighted to welcome the Mill Residential REIT to the market today,” shared Marcus Stuttard, Head of AIM. “This transaction demonstrates how AIM can provide structured support to crowdfunded ventures, and help provide a straightforward exit for early stage investors.”
Mill holds a portfolio of residential properties across the UK, and as a REIT it will pay no tax on its core rental income or capital gains. It has been designed to offer investors a highly liquid and tax-efficient way to gain exposure to the buy-to-let market, without the cost or hassle of owning property directly. Shares began trading at 105p each, and shareholders will be paid dividends twice a year. The company is targeting a net dividend yield of 3% per annum and a total return of 10% per annum. Those who hold their shares in an ISA or Self-invested Personal Pension (SIPP) will receive their dividends free of tax.
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