Urban Share targets £10m for property fund

London flatshare specialist Urban Share has launched a new fund to help meet the growing demand for shared properties in the capital.

Underpinned by £1m of private investment, which has already been deployed into three income-generating assets, the Urban Share Opportunity fund aims to raise a total £10m. This capital will be used to buy around 50 undervalued properties in London's Zones 1 and 2, will then be let to students and young professionals. Geared at 50%, the fund will run for five years and is targeting an internal rate of return (IRR) of 11.33% per annum. "The launch of this new fund will significantly expand our flatshare offering within Central London. There is enormous demand for this sort of accommo...