Hab Housing, the custom build housing company founded by Grand Designs presenter Kevin McCloud, has secured more than £1m in crowdfunding to expand its business
The money, raised via website Crowdcube, was the minimum the company had to secure for via the website and was invested by over 300 people in amounts ranging from £100 to £150,000. Hab will continue to pursue funding up to its pre-set cap of £2m.
The money will be invested by HAB into custom build properties, with the company aiming to offer 5 per cent dividends to investors by the end of 2016.
McCloud said: ‘This is a real case of power to the people, and I’m over the moon that we’ve exceeded our initial funding target with the help pof hundreds of like-minded supporters.’
He added: ‘With a host of new opportunities already being offered to us following the crowd process, it’s now a case of nose to the grindstone to deliver to Hab’s promises.’
Hab Housing was launched in 2007 and aims to develop sustainable, custom build housing projects. The company’s first scheme of 42 homes was The Triangle in Swindon, designed by Glenn Howells Architects and completed in 2011.
Kevin McCloud’s crowdsourcing bid reaches £1m milestone