British Pearl expects new investments after portfolio sale
New investment opportunities will be available through British Pearl later this year, after the property investment platform sold its property portfolio and reduced its costs “significantly”.
According to the most recent financial accounts for the firm, British Pearl narrowed its losses year-on-year during the 12 months between March 2020 and March 2021. Chief executive Ali Celiker told Peer2Peer Finance News that this was due to significant cost cutting, ahead of the portfolio sale on 31 March 2021.
“23 March 2020 is when we had the first Covid lockdown in the UK and shortly thereafter British Pearl’s strategy was to sell the real estate portfolio it was managing and weather the Brexit and Covid storm,” said Celiker.
“Over the period between March 2020 and March 2021, in line with our strategy to weather the storm we reduced our costs significantly.”
Read more: British Pearl completes sale of property portfolio and repays lenders
Celiker confirmed that the company is now focusing on two distinct opportunities: making investments available where the local authority will be the contracted tenant; and offering the British Pearl investment platform as a service.
“We are still pursuing these opportunities and hope to conclude them this year,” he said.
Although there are no investment opportunities currently available on the platform, investors can still join and fund their investment accounts in anticipation of new investment opportunities coming onboard later this year, Celiker added.
Once IFISA investments are available on the platform, the minimum investment threshold will be £1,000.
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