Property crowdfunding platform Transcendent Real Estate launches in Manchester

Commercial property crowdfunding platform Transcendent Real Estate (TRE) has officially launched.

The company, which operates from t-re.co.uk, has already signed its first deal to acquire a commercial property in Manchester city centre.

Manchester-based TRE offers direct equity investment in specific commercial real estate assets in the UK. Set up by North West entrepreneur James Nichols, the firm secured bank funding to purchase 43-45 Lever Street in the Northern Quarter and is now seeking to raise the rest of the capital needed to complete the acquisition through crowdfunding.

43-45 Lever Street, located at the junction with Stephenson Square, is predominantly let to Whitecross Dental Surgeries, trading as My Dentist, on a 15-year lease. Bar and restaurant Bakerie is another of the site’s tenants.

Discussing TRE’s launch and the impending acquisition, James Nichols commented: “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.”

He continued: “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.”

TRE’s acquisition of 43-45 Lever Street, James explained, will provide “the perfect springboard” from which to launch the firm’s “unique” crowdfunding platform.

Speaking further, he said: “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.”

TRE, authorised and regulated by the Financial Conduct Authority, is being advised by debt consultancy GDP Funding and law firm Nabarro LLP.