East Anglian firm raises £5m for land venture
An East Anglian property firm have reached its £5 million target for a new investment fund, which will allow them to expand into new markets.
In February Pigeon started raising funds for its new venture Pigeon Land, and have successfully hit their target thanks to a number of private investors.
Commenting on their success, chairman of Pigeon James Buxton said: “We are delighted with the response from our investors, which has enabled us to raise a substantial sum in a short period.
“We are currently in negotiation with a number of landowners on potential housing sites, and will sign promotion agreements once terms have been agreed.”
Over the past nine months, the firm have raised more than £9 million in Equity funds for land promotion, and the firm is currently in the process of promoting land for more than 8,000 homes.
They have now outlined plans to increase its promotion land bank to 25,000 homes in the coming years.
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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