Thank you for investing!
Our share offer has now ended. thank you to all of our investors for your support! We'll continue to keep you updated over the coming months and of course, we'll all continue fighting for better, fairer world.
We've raised over £336,000
Over 148% of our original goal! This has allowed us to purchase our first house and move in our first tenants in September 2021!
Better than the bank
The mainstream highstreet banks fund war, climate catastrophe and human rights abuses across the world. Oh, and they also offer you a terrible interest rate. Our 3% interest rate for all of our investors makes us an attractive, ethical alternative to most savings accounts.
Run by students. For students
"Our vision is of a student led co-operative for affordable housing, democratic living and log-term sustainability." Students make all of the decisions in our co-op giving them a bigger say, more responsibilities and a chance to fight back against the broken housing market.
A partnership with BHCLT
Brighton and Hove Community Land Trust (BHCLT) are: "A grassroots movement enabling, and campaigning for, community led development in Brighton & Hove, led by our large and diverse membership of local people and accountable to them and the wider community." We have a partnership with them whereby they will lease us our property (house) and offer us training and financial expertise amongst other things!
An ethical, sustainable investment
We used an ethical investment platform, Ethex, to run our share offer. We are also using a sustainable bank, Ecology Building Society, for our mortgage. Our house will be retrofitted to high standards reducing energy use and carbon emissions with a wildlife friendly garden - using recycled or locally made fixtures and fittings where possible. We want to provide long term housing to local students and promote a 'circular economy' lifestyle - self funding future projects.
About the share offer
SEASALT housing co-operative is a sustainable investment and we have raised funds through a share offer from Brighton and Hove Community Land Trust (BHCLT). By investing in the share offer our investors have enabled BHCLT to start purchasing their first property, which it will lease to SEASALT (us), a student housing co-operative. BHCLT’s long-term aim is to mobilise community investment in land across the city to support their different community-led housing groups and projects to create homes that are secure and of community benefit forever.
Our share offer was run through Ethex, a sustainable investment platform. We have to purchased our first house and our first tenants have moved in. to do this, we have a mortgage with an ethical ‘bank’ called Ecology Building society.
How did our share offer work?
Investors invested money and bought shares (minimum 10 shares for £500).
Investors receive 3% interest per anum subject to our financial forecast and paid for from our rent.
We bought our first house (7 bedrooms) and our first tenants moved in!
We now provide affordable, democratic and sustainable housing to students.
Our Investment target
Our Investment total
31/12/2020 – Share offer complete, £336,350 raised. 129% of our minimum goal!
That’s it! Our share offer is now closed but we’ve raised a total of £336,350 which is well above our minimum target. What this means is that we’ll be able to look at purchasing a bigger house, raising more revenue and funding more local, suitable projects across Brighton and Hove. we can’t thank everyone enough for their support and we’re over the moon to not only have reached our target but smashed it by a large margin! Once again thank you for your continued support and don’t forget to keep following us because we’ve got some exciting plans for 2021.
30/11/2020 – We did it! We raised £260,000!
We’ve reached our share offer investment target of £260,000! Thank you so much to all of our investors, supporters, the wonderful people at BHCLT and to Sim and Ruthie our founders. We couldn’t have done this without you! Stay tuned as we now look for our first house and start some exciting projects here on our site and in partnership with BHCLT.
23/11/2020 – Ethex £35,000 match funding!
Thank you Ethex for investing £35,000 match funding into our share offer! when we reach £225,000 Ethex will ‘match’ the remaining goal with a £35,000 investment (Update: we did it and thanks to Ethex for the final push!).