Crowdfunding platform acquires landmark city centre property

TRANSCENDENT Real Estate, the UK’s first dedicated commercial property crowdfunding platform, has launched this week with the announcement that it has secured its first deal to acquire a landmark commercial property in the centre of Manchester.

Offering direct equity investment in specific UK commercial real estate assets,
the firm, which has been launched by James Nichols, has secured bank funding
together with an exclusivity to purchase 43-45 Lever Street in Manchester’s
Northern Quarter, a prime city centre investment opportunity.

TRE is now seeking crowdfunding to raise the rest of the capital to complete the acquisition.

Located at the junction of Stephenson Square and Lever Street, 43-45 Lever
Street comprises 13,182sq ft and is predominantly let to Whitecross Dental
Surgeries, which trades as My Dentist, on a new 15-year lease as well as
Bakerie, one of the most popular restaurant and bar venues within the Northern
Quarter.

Nichols said: “TRE was an idea developed as a result of seeing excellent deals that I personally would like to invest in myself but not having the resources to do so. Commercial real estate investment has previously been an arena only generally open to investors with significant equity at their disposal.

“This isn’t a new way of doing business. Syndicated property has been happening for decades but was always a closed shop to outsiders and was never open to the public.

“TRE now allows anyone with available funds from £5,000 upwards the opportunity to acquire shares providing they meet the relevant investor criteria on the platform.

“Acquiring 43-45 Lever Street will provide the perfect springboard to launch our unique crowdfunding platform.

“The UK property market remains one of the strongest in the world and the current low interest rates, low bond yields and volatile equities post Brexit means this is an excellent alternative asset class for investors. We have created our fully automated crowdfunding platform to enable both small and large investors to access these great investment opportunities.”

“Manchester is the largest and fastest growing regional capital centre in the UK and comes second only to London both in business terms and the quality of its city environment and retail and leisure amenities. The area surrounding Lever Street has seen significant investment through the Northern Quarter Regeneration Strategy this, combined with the strong covenants makes it a sound investment opportunity.”