New Community Share Offer Will Provide More Homes For Vulnerable People In Cornwall
More about this community share issue
Mustard Seed Property (MSP) has launched an exciting new share offer, which seeks to raise funds to develop additional housing that will provide urgent support for vulnerable adults in Cornwall.
The latest share offer follows the previous successful raise of £610,000 in 2020, which enabled MSP to acquire and refurbish a property in Newquay. This property is let to the Newquay Lighthouse Project CIC and houses up to eleven men recovering from addiction.
MSP is currently completing the re-development works on its third property in Redruth. These works are expected to be completed in September 2023 and the property will then be let to United Response to house, and Karrek Community to support, five autistic adults with learning disabilities and mental health needs.
This time MSP is looking to raise £1.8 million from individuals and organisations to:
1. Repay short-term debt used for the development of MSP's third property in Redruth; and
2. Buy and refurbish the next two properties urgently needed by MSP’s social enterprise and charity partners in Cornwall.
Now is a great time to invest, because if you invest before 30 September you will qualify to start earning interest from 1 October 2023. The offer is on the Ethex investment platform, and full details and how to apply can be found by following the links.
Share Price: £1
Minimum Investment: £250
Maximum Investment: £100,000
Offer Opened: 27 June 2023
Offer Closed: 31 August 2023
Minimum Raise For Offer To Proceed: £250,000
INVESTMENT PROPOSITION KEY FACTS:
- IMPACT: COMMUNITY, HOUSING, DISADVANTAGE
- TARGET RAISE: £600,000
- EXPECTED RETURNS: 4.00% PER ANNUM FROM 1 OCTOBER 2023 / 4.50% PER ANNUM FROM 1 OCTOBER 2024
- ASSETS: PROPOSED PURCHASE OF TWO MORE PROPERTIES URGENTLY NEEDED BY MSP's SOCIAL ENTERPRISE AND CHARITY PARTNERS IN CORNWALL
- OPEN FOR INVESTMENT: OPEN
For full information about the Mustard Seed Property Community Share Offer visit the Ethex investment platform, where you will be able to download the Share Offer Document and apply for shares:
Our community share offer has been awarded the Community Shares Standard Mark. The Community Shares Standard Mark is awarded by the Community Shares Unit to offers that meet national standards of good practice. These standards ensure that:
• The offer document and application form are easy to understand
• You are provided with all the facts you need to make an informed decision
• The facts are supported by the annual accounts and/or business plan for the society
• Nothing in the documents is purposefully incorrect, confusing or misleading.
Visit Community Shares Unit for more information about community shares and the Community Shares Standard Mark.