New kiwi start-up making land banking possible from $100

Wednesday, 18 August 2021, 12:33 pm
Press Release: Opoly

Today, Opoly has launched a new equity crowdfunding platform inviting everyday kiwi’s to co-purchase an Oamaru section for $105,000.

By investing a minimum of $100, members of the public will become co-owners of the piece of land. They will have a share relative to their investment and will hope to see capital growth in three year’s time when forecasted suburban growth is achieved.

The concept is called ‘blockified property’ and is the brainchild of Opoly Founder, Felix Watkins.

“We are excited to make land investing accessible and possible for all Kiwis, regardless of their wealth status”, says Mr Watkins. “Unlike many other asset classes, land is tangible, and with this current climate, it is hard to see land going down, as population grows into the future,” explained Watkins.

PledgeMe CEO, Dr Claire McGowan, is interested to see how New Zealanders respond to the offer.

“Successful capital-raising for a community-owned property is not new to the PledgeMe platform”, says McGowan. “Collett’s Corner in Lyttelton raised $1.6 million from over 600 investors on PledgeMe. We’re excited to see Opoly’s crowd rally around them, too.”

The property is located at Lot 33 Ashburn Street in Oamaru.

Opoly is offering 1,050 shares at NZ$100 per share, which represents 100% of the company. The minimum pledge is $100. The equity crowdfunding campaign launched publicly on 18 August at 12:00 pm NZDT.

You can find the campaign and information memorandum here:

https://opoly.co.nz/properties

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