Happiness Architecture Beauty: HAB Housing Co. Crowdfunds over £1.5 million on CrowdCube


Image Courtesy of HAB Homepage

Kevin McLoud’s Hab housing company will close its crowdfunding investment campaign on a high this Sunday after banking more than £1.5 million

The cash was raised in only thirteen weeks via crowdfunding website Crowdcube and will now be used to fund the expansion of the business which has a slew of schemes underway including 108 homes in Oxford designed by AHMM.

Sums ranging from £100 to £150,000 have been invested by just over 500 individuals who now own around 20 per cent of Hab.

Hab project director Simon McWhiter said the majority of the individuals had paid in ‘single digit thousands’ with a handful paying substantially more.

‘Crowdfunding is bloody hard work, it’s not the most straightforward way to bring in money,’ McWhirter said. ‘ But it reflects what HAB does, which is projects with a significant amount of community involvement.’

The money raised by Hab – which was formed in 2007 and which stands for Housing, architecture, beauty – is a world record in terms of equity crowd funding where the contributors get to own part of the company as opposed to just raising money for a specific project.

McWhirter said the cah injection would be used to fund three core business streams; joint ventures with its housing partner GreenSquare under the Haboakus banner, standalone new builds and finally developing its custom build housing model (see below).

Hab and custom  build housing:

Under the model Hab buys a plot of land and secures planning and basic essential infrastructure for a number of houses. Common in northern Europe (55 per cent of new builds) custom build is rare in the UK (8 per cent).

Customers can come in at one of five stages, the earlier they come in, the cheaper the cost:

  • Plot: complete self build
  • Slab: plot with a ready made foundation
  • Shell: plot, foundations, and walls, windows and roof complete
  • Shell plus: customer does 1st fix
  • Full House: Customer buys Hab house

[Source: Max Thompson @ Architects Journal UK]


Tags: , , , , , , ,

UK CrowdFunding News

road.ccTemple Cycles hits crowdfunding target in days + videoroad.ccBristol bike brand Temple Cycles is looking for crowdfunding to grow its business, allowing it to launch a revamped range of bikes, recruit 15 new members of staff and invest in manufacturing bikes from scra »»»

Cauli Rice reaches 308% of crowdfunding targetThe Investment ObserverThe start-up has already shown considerable promise, winning awards including: The Grocer's “Product Launch of the Year” for Rice, Pasta & Noodles beating market leaders Uncle Ben's and Tilda; »»»

DEALSTREETASIAThe UK experience for Asian fintechs: Engagement through crowdinvestingDEALSTREETASIAFor the last six months, five British fintech ventures raised £6,9M from their current and potential clients via crowdinvesting (equity crowdfunding) platforms. This news were »»»

BBC NewsZTE scraps 'design our smartphone' crowdfunding campaignBBC NewsThe Chinese phone manufacturer ZTE has cancelled a crowd-funding campaign for a smartphone design based on ideas submitted by the public. With just over a day to go, 190 backers had pledged $36 »»»

The IndependentPressure group launches crowdfunding to encourage corporations to stop advertising in 'hate' mediaThe IndependentA pressure group whose aim it is to encourage corporations to stop advertising on media outlets that they say encourage hate speech and e »»»

Gizmodo UKSomeone's Crowdfunding A Dildo Selfie StickGizmodo UKLadies and gentlemen, please welcome to the Hall of Bad Ideas our latest inductee: the Sexfie Stick. Yes, that's right, it's a selfie stick with a dildo on the end, "created to photograph or f »»»

Financial TimesUK start-ups struggle to raise money as private equity deals fallFinancial TimesOne bright spot was the growth of crowdfunding platforms, which are moving from early seed capital to regularly raising £1m plus. Despite an overall decline in crowdfunding deals, »»»

Live Crowdfunding .tv

Jeff Lynn CEO & Co-Founder Seedrs The Emerging Financial EcosystemWatch more video library | Conference | Interview | Campaign Showcase | Research | ....MORE VIDEOS

Press Release