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You can now own a stake in London's property market with this investing platform for millennials

London-based investing platform Bricklane has launched a new fund which gives users the opportunity to invest and own a stake in London’s increasingly out-of-reach property market.

The startup, which officially launched last year, gives individuals the chance to invest their savings through a Property ISA in high-value properties which are let to tenants.

Explicitly targeted at ‘Generation Rent’ and the so-called millennials demographic, co-founders Simon Heawood and Tom Cavill hatched upon the idea of a straightforward, property-focused online ISA that would deliver better returns for their users savings than if they were simply held in cash.

Bricklane launched its first investment fund focused around regional UK cities last September, hot on the heels of a £1.3m seed funding round from LocalGlobe and Zoopla, and claims the fund has already delivered an 8.9% annualised return since launch

Now, in response to ‘huge demand’, the startup has launched its second fund focused around ‘expertly-chosen’ and ‘attractive’ homes around London, giving investors the chance to dip their toe into the capital’s property market.

For its first investment the firm has lined up a £400k one bedroom flat in Clapham North with further properties to follow once due diligence has been completed.

Commenting upon the launch of its first fund, Heawood explained the firm’s rationale: “The problems facing ‘Generation Rent’ are all too familiar. With Bricklane.com, we want to support renters in doing something about it.

“Our aim is to help those saving for a first home to get on the ladder years earlier than they would by saving with cash. Alongside, we will provide a great service to residents of properties owned by our community of savers.”

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