April 29, 2021
This article originally appeared in the Evening Standard on 29 April 2021, written by Simon English.
Have you ever wanted to own a share in your favourite building? When the International Property Stock Exchange launches in May, that might well become possible.
IPSX is the brain child of David Delaney, 56, a former banker who was at Barclays for six years and Credit Suisse for 20 years as a fixed-income specialist.
He plans to list individual buildings in which investors can buy shares, starting with The Mailbox in Birmingham, an office building that includes the BBC among its 46 tenants.
The owners will raise £25 million from the float, valuing the building at £180 million. You have to invest at least £1000, which you can do through most recognised stockbrokers, including The Share Centre, WH Ireland and Peel Hunt.
Until now, investors wanting to invest in commercial property would perhaps buy shares in British Land, or a Real Estate Investment Trust.
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IPSX Wholesale is a market exclusively for institutional and professional investors.