New investment opportunities will become available through British Pearl later this year after the property investment platform sold its property portfolio and cut costs “significantly”.
According to the company’s most recent financial accounts, British Pearl trimmed its year-on-year losses in the 12 months between March 2020 and March 2021. Chief executive Ali Celiker said News Peer2Peer Finance that this was due to a significant reduction in costs, before the sale of the portfolio on March 31, 2021.
“23rd March 2020 is when we had the first Covid lockdown in the UK and soon after British Pearl’s strategy was to sell the property portfolio they were managing and weather the storm Brexit and Covid,” Celiker said.
“Over the period between March 2020 and March 2021, in line with our strategy to weather the storm, we have significantly reduced our costs.”
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 contract tenant; and offering the British Pearl investment platform as a service.
“We are still pursuing these opportunities and hope to wrap them up this year,” he said.
Although no investment opportunities are currently available on the platform, investors can still join and fund their investment accounts in anticipation of new investment opportunities coming later this year, Celiker added.
Once IFISA investments become available on the platform, the minimum investment threshold will be £1,000.
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