New investors on board

by Marc ~ April 14, 2009

I should be keeping this blog more up to date, but rest assured that just because I’m not posting every week that doesn’t mean there isn’t plenty happening behind the scenes.

A number of investors have now committed, and others are currently considering their position. We’re now more than half way to having the capital required to make this happen, with a decent chance of getting over the line in the next couple of weeks. I’m sure I could do it with the investors we have, but I’m taking a conservative approach and raising more capital than we probably need. I’d much rather be returning excess capital to investors in six months than asking for more.

I’ve also met with the owner of the property that we have our eyes on, and that went well. Work on developing the property has been slightly delayed, but is due to start shortly. There is three months work to do, so even if we commit and work starts next week we wouldn’t be looking at moving in until late July at the earliest.

That’s it for now. Thanks to all who have been helping spread the word. I recently put together a powerpoint presentation that is probably an easier way to give someone a quick rundown on our plans than sending them to this site, so if you or someone you know is interested (particularly in membership as we’re getting close to being okay for investors) please let me know and I’ll send you a copy.

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