Don’t invest unless you’re prepared to lose all the money you invest. This is a high - risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Don’t invest unless you’re prepared to lose all the money you invest. This is a high - risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Mustard Seed Property

Affordable Homes - Community Shares

8% raised
4-4.5%

Forecast
return

Investors
31
Days left
12
Raised so far
£48,375

Mustard Seed Property is making space for vulnerable adults to flourish, by providing supported homes in Cornwall.

Homes for all
Improving lives

Target
£600,000
Min raise
£250,000
Offer opened
27/06/2023
Closing date
15/12/2023
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Mustard Seed Property Limited
Society no. 30293R
Cornwall, UK
Incorporation date: 31 July 2007

Your money will…

  • Help change lives for the better by providing vulnerable people In Cornwall with supported and secure homes where they can flourish

  • Create affordable housing in Cornwall, where the housing crisis is seeing many people priced out of homes

  • Help the families of people living with physical or mental health problems or addiction by providing the support they need

  • Earn a potential return Investments in the share offer will target a return of 4-4.5% per annum

The bigger picture

The housing crisis is affecting many people in Cornwall and affordable rental properties are hard to find. For vulnerable adults the problem is intensified, so since 2007, Mustard Seed Property has been providing solutions to the problem. Here’s how: 

  • Mustard Seed Property buys and renovates buildings in Cornwall, making them available to partner organisations to provide secure and supported housing
  • Partner organisations support vulnerable people at risk of homelessness, with learning disabilities, mental health problems or those recovering from addiction
  • The support goes beyond providing a roof over their heads. Expert support services are also provided, helping people move on with their lives

  • Mustard Seed Property currently has two properties in its portfolio housing tenants, with another under development. Its aim is to grow its portfolio so Mustard Seed Property can reach more vulnerable people who need support.

Where your money goes

The next phase of funding requires £1.8m, which includes the £600k from this share offer. In this next phase MSP are aiming to:

  • Repay a short term loan provided by a supporter to redevelop their third property (to be leased later this year)
  • Purchase and develop the next two properties urgently needed by Mustard Seed Property’s social enterprise and charity partners in Cornwall
  • Provide permanently affordable leases to partner organisations that would otherwise struggle to find suitable premises
  • With 5 properties they expect to provide secure and supported homes for 30+ people each year

Team

Mustard Seed Property is determined to build on this successful model and this share offer will help them fund the next phase of their work. 

https://mustardseedproperty.co.uk/

Stephen Clague

Director

Stephen is a Chartered Accountant, having trained with PricewaterhouseCoopers. For many years he has been Finance Director for a variety of enterprises, most recently at Cornwall Care, the largest provider of adult social care in the county. Since 2019, he has acted as a Finance and Business Adviser to a range of enterprises. Aside from his involvement with MSP, he is also a trustee of Emmaus Cornwall, a charity supporting the homeless, which itself is in need a property and land. He is dad to a young adult with a learning disability.

Suzie Ackford

Director

Qualified as a chartered accountant with Arthur Andersen. She then created a global HR Consulting business Penna Consulting PLC where she was CEO and Chairman for ten years. She currently works with a number of fledgling charities and social enterprises in Cornwall.

Adam Langer

Director

Adam is a qualified and experienced counsellor specialising in working with trauma and addiction. He has worked in Family Assessment, Residential Drug and Alcohol Rehabilitation, and Supported Housing. He is the founder and Managing Director of the Bideford Lighthouse Project CIC and joined MSP as a partner for the Newquay Lighthouse Project CIC.

Lynn James

Director

A member of MSP from the beginning, Lynn is a counsellor, manager and supports people with learning disabilities. She ran her own small upholstery business for 28 years. Lynn brings particular knowledge and skills in serving the people supported by the partner charities of MSP and leads on social impact and ensuring MSP delivers for vulnerable people. Lynn is also a trustee director of Mustard Seed (SW), which is one of MSP’s founding partners.

Richard May

Director

Richard has over 35 years’ experience as a Chartered Surveyor working throughout the South West region. Following ten years as a partner in Knight Frank he set up Maze, an Exeter based consultancy business, dealing with residential and commercial work. He specialises in Planning and Development but typically works with corporate clients and charities on acquisition and portfolio enhancement.

Steve Maxey

Director

Steve worked for the Probation service for 11 years at a Bail Hostel, and also worked as bank staff for ten years for Spectrum supporting Autistic adults. Steve joined St Petroc’s in 2004, initially as a weekend house manager, then graduating to service manager and now as the Associate Director of Residential Services.

Charles Lewis

Director

Charles is a Chartered Quantity Surveyor and a Fellow of the Royal institution of Chartered Surveyors (and also a Senior Investment Manager at Resonance Limited). He has over 30 years’ experience of working in all sectors of the property environment, both in the UK and mainland Europe.  He was previously an Equity Partner with EC Harris (now Arcadis) and is now part of the Resonance team with a focus on delivering projects for a new impact investment fund, “Resonance Community Developers”. Charles supports MSP on the purchase, development, and refurbishment of their properties. 

Daniel Brewer

Director

Daniel is CEO of Resonance Limited where he leads a growing team supporting social enterprises and charities prepare for investment in a variety of transactions including real estate acquisition and development, community share issues and direct venture capital investments. He has seen the company flourish as it has created demand-led, impact investment funds. Daniel founded Resonance in 2002 having spent several years in manufacturing as an engineer and leading a political lobbying campaign on the UK poverty trap.   Outside work Daniel is a non-exec of a small number of high impact social enterprises and part of the advisory council of a leading impact investor foundation.

Nick Smith

Management Support

Nick works in the finance team at Resonance. Previously he worked within the finance industry for nine years, with the most recent four years spent in the finance team of a local Cornish charity. He has a Bachelor of Commerce degree, majoring in accounting, and is currently working towards becoming a Chartered Accountant through ACCA. Nick supports MSP with all finance and accounting functions, including management accounts, payment of invoices and liaising with suppliers.

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Interest accrual and payment

Interest will be accrued by shareholders from 1 October 2023 for investments made up to 30 September 2023. For investments made from 1 October 2023 or thereafter interest will accrue from the first day of the month following the date of the investment.

Interest will be paid annually within 90 days of the end of each financial year (30 September), subject to available funds. This will be 4% per annum from 1 October 2023 and then 4.5% per annum from 1 October 2024.

Mustard Seed Property will as a default re-invest all interest as a new share issue for all members that have less than the maximum of £100,000 of share capital, members have the option to opt out and receive cash returns.

Getting your money out

Mustard Seed Property’s policy is that all new shares may not be withdrawn for 12 months and then subject to 6 months notice 

Investing on behalf of children

Mustard Seed Property does not currently accept investment on behalf of children.

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Investments offered on the Ethex platform are not readily realisable, which means that they may be difficult to sell and you may get back less than you originally invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and returns are not guaranteed. If you are in any doubt, you should contact an Independent Financial Adviser.

Investments offered on the Ethex platform are not readily realisable, which means that they may be difficult to sell and you may get back less than you originally invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and returns are not guaranteed. If you are in any doubt, you should contact an Independent Financial Adviser.