PIGEON HITS £5 MILLION INVESTMENT TARGET
Eastern Region property company Pigeon has successfully raised £5 million of investment funds in three months.
The company began fundraising in February for its new land promotion venture Pigeon Land, and reached its £5 million target at the end of April. All funds were raised from private investors.
James Buxton, Chairman of Pigeon, 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.”
During the past nine months Pigeon has raised more than £9 million of equity funds for land promotion, the majority from private investors. The company is currently promoting land for more than 8,000 dwellings, and is planning to increase its promotion land bank to 25,000 dwellings over the next few years.
The Pigeon Land team has been strengthened by the recent appointment of Simon Butler-Finbow as Planning Director. Simon has more than 25 years’ experience of planning and development in the public and private sectors, including appointments with Bellway Homes, Ashwell Developments and Bloor Homes.
For more information about the company visit www.pigeon.co.uk
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