June 23, 2021
This article originally appeared in Investment Week on 23 June 2021, written by James Baxter-Derrington.
The world's first regulated bourse dedicated to offering direct investment in commercial property via a public market is hoping to target "structurally excluded" retail investors, who have been burned in recent years by holdings in the open-ended property fund market.
HMRC weighs ISA ban on 'new' property fund investments
The International Properties Securities Exchange (IPSX), which launched in May, currently has one tradeable asset in the Mailbox REIT, which owns Birmingham's 689,000 square foot mixed-use development to which its name refers.
At the time of writing (16 June), this security had a 3p bid-offer spread.
IPSX is currently unavailable to investors without a financial advisor, but the firm is in discussion with platforms to bring the exchange to individual investors.
Speaking to Investment Week, head of capital markets at IPSX Roger Clarke described the exchange as the solution to an asset class from which retail investors are "structurally excluded".
IPSX Wholesale is a market exclusively for institutional and professional investors.