Notes:
Risk Warnings: An investment in property and unlisted shares contains risks. You may not get the returns expected, values can fall as well as rise and your capital are at risk. Risk on Capital: The market value of property can go down as well as up and the return of your capital would be dependent on a sale of a property which is not guaranteed. Costs or tenant risk referred to in the section headed ‘dividend risk’ below could impact on capital returns as well as hidden defects or other unexpected costs relating to a property. Risk on Dividend: Estimated returns are not guaranteed and are subject to risks such as sales completing on time, repairs and refurbishment, tenant risk and other costs. Lower rents may be secured, tenants may not pay their rent and properties may be untenanted for periods. Other events could also have an impact on returns, (for example if a fire were to occur which was not covered by insurance). Where such costs are not covered by rents, we reserve the right to obtain a loan secured against the underlying property to pay for repairs, administration and any other ongoing costs. This loan will need to be paid down by future rental income. Risk on Disposal: We reserve the right to dispose of the property at any time and return net proceeds to investors. This right is intended to cover unforeseen scenarios such as the fire example described above. As well as being likely to receive back substantially less than invested, the timing may be unwelcomed and may result in the crystallisation of taxable income sooner than anticipated. Risk on Liquidity: The shares are unquoted, and there is no trading platform or quotation for them. Whilst you can sell your shares should you find a willing buyer, there may not be anyone willing to buy your investment at a price that you deem reasonable, (or buy it at all). Risk of Diversification: Your investment in property and unlisted shares should only be considered as part of a diverse portfolio which contains investments of different kinds and where you do not put too great a proportion of your capital into property. We also encourage you to diversify your investments across multiple properties to safeguard against excessive exposure to any one property. Risk of Dilution: Normally we will never issue further shares in each SPV. However, it must be noted that any further issue of shares by a company, (which may be required for further fundraising), will dilute your investment.