HALE firm The House Crowd has launched an exclusive new development in Sale – but it is anything but ordinary.

The Gratrix Park development is the first in the area to be crowdfunded, and is now open for investment at thehousecrowd.com.

More than 30 per cent of the £825,000 phase one investment target has already been raised.

Gratrix Park, based on Gratrix Lane, will provide 15 four-bedroom houses, two one-bedroom apartments and two two-bedroom apartments. The House Crowd said investors can expect returns of up to 13 per cent per annum, depending on their level of investment.

Frazer Fearnhead, founder and CEO of The House Crowd, said: “Sale presents a fantastic investment opportunity – it has strong transport links, boasts great schools and is in high demand from families and young professionals alike. This development will provide brand new housing, whilst offering local investors the opportunity to invest in the area for as little as £1,000.

“Whilst Brexit uncertainty has knocked the London housing market, Greater Manchester remains one of the most hotly tipped areas for capital growth. It’s also in need of additional housing, with recent research from home.co.uk revealing that the number of homes for sale in the region had dropped by 70 per cent in since 2008. Our sales agent believes the demand will be high and expects to sell all the properties off plan.”

Crowdfunding allows investors to pool resources with those other like-minded investors, spreading risk and earning consistent, predictable returns.

The House Crowd was launched in 2012, and to date has successfully funded more than 200 projects, raising more than £24.4million so far. For more information, visit thehousecrowd.com.