Category Archives: Social Housing

Finance and Banking, News, Social Housing

SASC invests £2.33 million in The Brick to fund properties to support homeless people in Greater Manchester

The Brick, a leading UK charity addressing poverty and homelessness across Wigan and Leigh in Greater Manchester, has received a social investment loan of £1.93 million from Social and Sustainable Capital (SASC) alongside £400k of grant funding from Access Foundation’s Cost of Living Social Investment Support Fund* to buy properties to support people experiencing homelessness.

This loan from SASC’s Social and Sustainable Housing fund (SASH II) will enable The Brick to purchase 9 two-to-six-bedroom properties in Wigan and Leigh, giving them 40 units of supported accommodation for people transitioning out of homelessness.

The funding significantly enhances The Brick’s existing emergency and supported provision across 11 properties and 96 bed spaces currently.

In 2022 / 2023 The Brick directly supported 14,483 individuals across all services; and provided 8,161 emergency beds for 315 different people in housing crisis, 25 people with longer term, secure support accommodation and 19 young people with specialist accommodation. The Helpdesk received 2,963 requests for homelessness support.

 

Keely Dalfen, CEO of The Brick said: “The demand on our services in the last 12 months has been unprecedented.  Every day we see the amazing resilience of the people we support who are experiencing poverty and homelessness, but the triple threat of a cost-of-living crisis, social care budget cuts and economic recession continues to make their lives increasingly hard.

“Taking on social investment to purchase properties will enable us to become more self-sufficient and have more control over the properties we have available for vulnerable people. Our accommodation is much more than a roof over a person’s head. Alongside having somewhere safe and secure to stay, our staff and volunteers work with residents to understand their hopes and ambitions, helping them to take the steps they need to achieve them. Our housing services are the first step in developing a strong support system for those experiencing homelessness in Wigan and Leigh.”

 

Mark Bickford, CEO of SASC said: “Wigan and Leigh are areas with some of the highest levels of deprivation in the country, with a growing need for housing for people who are at risk or transitioning through homelessness.

“The Brick successfully moved into providing emergency and supported accommodation five years ago and has built up a strong record with excellent relationships with local commissioners.

“The SASH loan will enable them to become more financially sustainable and help many more homeless people by giving them a home and the person-centred support they need to give them the confidence to move on with their lives.”

 

SASH II launched in November 2022, supports charitable organisations that deliver a combination of support and housing to move from renting existing housing stock to owning it.

For more information on The Brick visit: www.thebrick.org.uk

For more information on SASC visit: www.socialandsustainable.com

 

* The £400k grant is from the Cost of Living Social Investment Support Fund, administered by the Access Foundation, to enhance the capacity of social investors to address the challenges posed by rising living costs in underserved communities affected by long-term economic decline.

Investment, News, Social Housing

Social and Sustainable Capital (SASC) unveils 2023 Impact Report: “No shortcuts to creating real social impact”

18 April 2024 – Social and Sustainable Capital (SASC) has published its 2023 Impact Report, titled ” No shortcuts to creating real social impact,” which highlights SASC’s significant progress in the last two years, including 11 new investments totalling over £29 million.

The investments into charities and social enterprises engaged in supported housing have empowered these organisations to deliver more essential services to communities in need.

The report explores the impact of SASC’s investments in detail and includes compelling research findings among borrowers, revealing that 100% acknowledged the positive impact of the investment, with 88% stating their organisational resilience had also improved.

A decade of Impact:

Last year was a milestone year for SASC as it celebrated a decade in business. With a total investment of £167.7 million during this period, SASC remains steadfast in its commitment to helping its borrowers drive meaningful change across the UK.

The report explores the key achievements during this time and lessons learned about the contribution social investment can make when designed specifically for people, communities, and the voluntary sector organisations that support them.

10 Highlights:

  1. 2014: Our CIF and TSIF funds are born with support from Big Society Capital and Social Investment Business.
  2. 2015: Harrogate Skills for Living, our first borrower.
  3. 2016: Giroscope making good things happen in Hull.
  4. 2017: Hull Women’s Network, our lightbulb moment.
  5. 2018: Homes for Good, our first project in Scotland.
  6. 2019: The launch of supported housing fund SASH marks a pivotal moment for SASC.
  7. 2020: Rapid approval of £16.5 million in projects within 9 months to support the COVID response.
  8. 2021: Collaboration on the Gainsborough housing regeneration project with P3, marking the third joint project.
  9. 2022: Introduction of SASH II, building upon the success of SASH I.
  10. 2023: Approval of the first five projects totalling £15 million for SASH II, supporting exemplary, people-first charities.

 

Scott Greenhalgh, Chair of SASC, said: “Inequality and social need remain deeply entrenched in the UK, but we continue to be impressed by the tenacity and resilience of our voluntary sector borrowers in addressing areas of disadvantage.

We are proud to have supported 54 high performing charitable organisations since 2014 who have delivered significant impact across many sustainable development goal areas.”

 

Mark Bickford, CEO of SASC, reiterated SASC’s dedication to creating genuine social impact. “Through our SASH funds, we support social sector organisations expand their property portfolios. To date, we have supported 26 voluntary sector organisations, facilitating the housing of over 1,500 vulnerable individuals in 460 properties and we want to build on this. Our funds aim to enhance the well-being of individuals, families, and communities,” he stated.

 

Lessons learned:

The report highlights that lessons learned by SASC include the importance of listening to borrowers about what they need from an investment and acknowledging there are no shortcuts to creating lasting impact. Fundamentals like genuine social purpose, quality control and appropriate funding structures must always take precedence over rapid, financially driven growth.

 

Key highlights from the 2023 Impact Report:

  • Approval of 11 new investments, totalling over £29 million, in 2022 and 2023.
  • Continued dedication to addressing inequality and social need through strategic social investment.
  • Total investments of £167.7 million.

 

You can download the report here 

 

About Social and Sustainable Capital (SASC):

Social and Sustainable Capital (SASC) provides accessible finance to exceptional charities and social enterprises. Guided by the belief that the right investments empower organisations to tackle society’s most pressing challenges, SASC’s funds offer flexible capital to amplify social impact. Operating as a social enterprise, SASC is dedicated to improving the lives of disadvantaged individuals across the UK.

For more information about SASC, please visit www.socialandsustainable.com.

Investment, Investment News, Mental Health, News, Social Housing

Social and Sustainable Capital invests over £3 million in St Martin of Tours to expand supported living services for adults with mental health needs

Social and Sustainable Capital (SASC), a leading social investment firm dedicated to financing ‘extraordinary’ charities and social enterprises, has committed £3.2 million from its Social and Sustainable Housing Fund (SASH II) to St Martin of Tours, a respected London housing association. This investment will enhance and expand the organisation’s supported living accommodation for adults facing complex mental health needs in Bromley and Streatham, enabling St Martin’s expansion plans across London.

With over 40 years of experience, St Martin of Tours specialises in care homes and supported-living services for adults dealing with enduring mental-health challenges. Providing tailored mental healthcare and supported accommodation services, the charity’s highly trained and dedicated staff teams work in partnership with local care teams to assist residents in improving their quality of life and transitioning towards independent living in the community.

The investment includes funding for the acquisition and refurbishment of Oakwood House, a 15-bed supported living service in Bromley, which will become St Martin’s flagship accommodation. At Oakwood House, the charity will deliver personalised support, aiding further recovery, optimising medication, providing psychosocial interventions, and assisting residents to develop the skills needed to move to independent living.

Additional funding will support organisation-wide initiatives, including a transformation plan, improving accommodation standards across the charity’s housing portfolio and contributing to ongoing financial resilience.

Paul Hardisty, Chief Executive Officer of St Martin of Tours, said, “The investment from SASC will be transformative for our organisation, enabling us to expand our accommodation and enhance our services to meet rising demand. Our mission is to be the housing provider of choice across London for individuals recovering from complex mental health illnesses. Through our tailored mental healthcare and supported accommodation services, we want to empower residents to transition towards independent living in the community. This investment allows us to create an additional 15 much needed bedspaces.

Mark Bickford, CEO of SASC, commented, “St Martin of Tours’ mission aligns perfectly with SASC’s commitment to supporting initiatives that have a tangible impact on society. With our investment, they will be able to provide decent, safe, and stable housing for individuals with complex mental health needs, contributing significantly to their journey towards recovery and independence.”

For more information about St Martin of Tours, please visit: St Martin of Tours

To learn more about SASC, please visit: Social and Sustainable Capital

Finance and Banking, Investment, News, Social Housing

Social and Sustainable Capital (SASC) invests £3.5 Million in Caring for Communities and People (CCP) to expand Independent Living Services

Social and Sustainable Capital (SASC) is pleased to announce an investment of £3.5 million from its Social and Sustainable Housing Fund II (SASH II) into Caring for Communities and People (CCP), a leading South West-based charity, to facilitate the expansion of their Independent Living Services for vulnerable young adults leaving the care system. This investment is SASC’s second partnership with CCP, following an initial Community Investment Fund (CIF) loan in 2020.

CCP provides vital support, accommodation and training and education to these vulnerable young individuals. The charity’s staff play a pivotal role as support workers offering crucial life skills, education, training, and support to aid the seamless transition of young individuals to independent living. With 253 units of supported housing across the Southwest, CCP is addressing the increasing demand for accommodation for young people leaving care.

This new loan will enable CCP to acquire and refurbish six properties, which will provide decent, safe, and stable housing and dedicated support for 18 vulnerable young people.  The investment will also contribute to CCP’s long-term sustainability by establishing a property portfolio that guarantees tenancy security and high-quality accommodation.

Cordell Ray, Chief Executive of CCP, expressed, “Social investment has been transformational for CCP. It has not only reshaped our business model but also enabled us to expand our service into different regions and invest in high-quality homes, freeing us from dependence on private landlords. Nevertheless, the pressing need for safe, quality homes for young adults transitioning from the care system remains. By expanding our Independent Living Service, we aim to create a positive impact on the lives of those grappling with the care system, homelessness, and financial difficulties, helping them develop independence and prepare for adulthood.”

Mark Bickford, Chief Executive of SASC, commented, “CCP is a leading social care provider in the Southwest, creating meaningful change in the lives of children, young people, families, and vulnerable adults. Through this second investment, we are delighted to empower them to broaden their critical work, expanding the number of young adults who can experience the benefits of stable, secure, and supported accommodation while making their way out of the care system.”

For more information on SASC visit: www.socialandsustainable.com

News, Property, Social Housing

Groundbreaking housing project from Cornerstone Place funded by SASC named ‘Social Investment Deal of the year’ at UK Social Enterprise Awards

A groundbreaking project from social housing company, Cornerstone Place, funded by Social and Sustainable Capital, has been recognised for its innovative approach to tackling homelessness in Rochdale, Greater Manchester, at the prestigious UK Social Enterprise Awards 2023.

Cornerstone Place’s pioneering Whitworth Road housing development secured the coveted “Social Enterprise Investment Deal of the Year” award, sponsored by Big Society Capital.

Rochdale faces a critical need for stable and affordable housing to help those who are homeless or at risk. The Whitworth Road project directly addresses this challenge by building 14 self-contained homes specifically designed for individuals in these situations.

Built with sustainability and energy efficiency in mind, the homes use modern construction methods championed by builders Agile Property & Homes, such as modular construction and renewable materials. This approach significantly reduces residents’ energy costs and carbon footprint while providing safe and secure shelter.

Rochdale Borough Council provided unwavering support and crucial investment for the project, while SASC’s £844k loan played a key role in making the project financially viable. Additionally, Stepping Stone Projects, a local homelessness charity, will manage the units and offer comprehensive support services to residents, ensuring a holistic approach to tackling homelessness challenges.

‘The real relevance of the award is not the focus on us, but the fact that we have developed a realistic scalable model that directly addresses the significant social housing challenge we face in the UK at the moment, with a major focus on easing the burden local authorities face’ says Richard Kennedy, Co-founder of Cornerstone Place, ‘The model created can be replicated to build necessary housing without the need for major public finance.’

Mark Bickford, CEO of SASC: ” SASC is delighted to have funded this award-winning project – The Whitworth Road project highlights the strength of collaboration and commitment. By combining Cornerstone Place’s expertise with Rochdale’s dedication and our financial support, we hope to create lasting positive change for vulnerable individuals. The modular homes, coupled with the support from the charity, will provide a ‘stepping stone’ on the pathway to independence for care leavers, people who are homeless and those at risk of losing their homes.”

Peter Holbrook, CBE, Chief Executive of Social Enterprise UK, said: ‘The last year has been a difficult one for businesses across the UK, and it has been no different for social enterprises. The Awards were a real evening of hope and inspiration and brought home the sheer ingenuity, adaptability, and determination of the social enterprise community, which has continued to deliver for the people and communities they work with and support.

The winners include businesses which are breaking down barriers for groups marginalised in the workforce, organisations at the heart of local economies, and those finding innovative ways to tackle the climate crisis. The ever-growing movement of social enterprise truly represents business at its best.’

The Whitworth Road project stands as a concrete example of how innovative solutions and dedicated partnerships can tackle complex social issues. By providing safe, sustainable housing and holistic support, it paves the way for a brighter future for vulnerable individuals and communities, not just in Rochdale, but potentially beyond.

 

Charity & CSR, News, Social Housing, Tech

Technology group supports charity scheme.

Solution Performance Group (SPG) has donated £25,000 to its client Sovereign Housing Association to help residents access and become more confident with digital technology.

The funding will provide free laptops for residents and community groups to help them find work and training opportunities and connect with others.

Sovereign Housing Association manages 62,000 homes across the UK, ranging from Cornwall to the West of England. It is driven by social purpose and invests in the long term to create great places to live in thriving communities. The association’s team works with customers and partners to support them in realising their potential. Last year, the housing association supported more than 600 customers to get online, a trend which this donation is set to continue.

Commenting on the donation, Gareth Humphreys, group CEO at SPG, said: “We partner with our clients to ‘Be the change’ needed to solve complex problems, delivering transformational technology solutions that empower people. So it was a natural fit to partner with Sovereign to support this initiative, which is aligned with our ethos of making real change in the community.”

More broadly, SPG is supporting Sovereign’s digital transformation plans as it invests in technology to continue to improve the customer experience, enhancing systems, data and digital platforms.

With offices in Newcastle and Leeds, SPG is an ecosystem of digital transformation, resourcing and software subsidiaries that work across the public and private sectors to deliver optimised technology solutions, highly efficient processes and empowered, successful teams. Its clients include the emergency services, government departments and social housing organisations.

Andrew Cooper, head of partnerships and funding at Sovereign, said: “With 6.9 million people in the UK digitally excluded, we know the importance of supporting our customers to connect digitally and develop their skills. We’re pleased to have received this donation from SPG, which will help support more people.

“Technology connects us with the world and can create a world of opportunity. This generous donation will help to ensure more of our customers have access to many of these opportunities.”

Pictured: Gareth Humphreys, Group CEO at SPG.

Charity & CSR, Homelessness, Housing, Investment, Investment News, Social Housing

SASC invests in Cornerstone Place to fund properties for single people who are homeless or at risk of homelessness in Rochdale

Cornerstone Place, a social enterprise that provides property solutions to homeless support charities, has received a social investment loan of £884k from Social and Sustainable Capital (SASC) to build 14 properties for people who are homeless or at risk of becoming homeless in Rochdale, Greater Manchester.

The loan from SASC’s Community Investment Fund will pay for the Whitworth Road project, a new development in North Rochdale, which has 13 one-bedroom apartments and one two-bedroom apartment. The apartments will be built by Agile Property & Homes using Modern Methods of Construction that use renewable materials and can reduce energy costs and carbon emissions by up to 90% compared with traditional building methods.

The development also includes ancillary space to facilitate support staff on-site 24/7 from Stepping Stone Projects[i], a homelessness charity set up in partnership with Rochdale Council that already has an operational project with Cornerstone Place. Stepping Stone Projects will own the properties after completion, managing the units and delivering wrap-around support to the tenants.

Cornerstone Place was set up in 2019 with a mission to help end street homelessness in the UK by 2030, with a unique proposition that offers homelessness charities an alternative to renting or buying properties. They source the properties, arrange all the funding, manage the build and professional teams, arrange long-term finance and deliver the projects for the charities.

The aim is that the homelessness charity will end up owning the property without needing to dip into or tie up their valuable reserves, helping them to serve the people in their community over the long term.

David Ball, Co-Founder & Director at Cornerstone Place said: “There is a massive need for the Whitworth Road properties, with figures showing 283 people are in statutory temporary accommodation in Rochdale, 892 ‘open homelessness cases’ and a housing list nudging 8,000 applications. With SASC’s loan we will be able to fund the development for the benefit of the local community which will be managed by Stepping Stone Projects a trusted and impactful regional charity dedicated to supporting people.”

Mark Bickford, Chief Investment Officer at SASC said, “The management team at Cornerstone Place and the construction company are experienced and the project is well-planned, with Rochdale Borough Council strongly committed to the success of this project.

“The modular homes, coupled with the support from the charity, will provide a ‘stepping stone’ on the pathway to independence for care leavers, people who are homeless and those at risk of losing their homes. These homes will provide much needed accommodation for people in need who are not quite ready to live independently without support.”

SASC’s Community Investment Fund launched in 2014 and lends amounts of between £250,000 and £2 million to community based, locally led organisations which are providing essential services to improve the well-being of local residents.

For more information on Cornerstone Place visit: www.cornerstoneplace.co.uk

For more information on Stepping Stone Projects visit: www.stepping-stone.org.uk

For more information on SASC visit: www.socialandsustainable.com

[i] https://www.stepping-stone.org.uk/

News, Property, Scotland, Social Housing

Homes for Good to play a leading role on the International Stage

Scottish social enterprise, Homes for Good, will take to the stage on the opening day of this year’s International Social Housing Festival (ISHF) in Barcelona, to share their knowledge of the UK social and private housing sectors.

Homes For Good is a letting agency with a difference buying neglected homes and renovating them to a high standard, then letting them to people on low incomes.

With an audience of over 250 individuals from as many as 35 different countries around the world registered to attend the session, Homes for Good will look to inspire others to follow their lead as they tell the story of how the unique social business has grown to help hundreds of people on low incomes or at immediate risk of homelessness to live somewhere which is high quality and affordable to them.

Since August 2014 they have raised £20m in social investment, created 314 homes and expect to increase this to over 500 in the next 2-3 years.

One resident said:

“…we are the luckiest private tenants in Scotland. Everyone’s lovely.

“It’s the whole attitude of being interested in your tenants as people not just as money machines.

“I couldn’t actually believe the work that was done specifically for us in this flat, it was unbelievable that when we said we weren’t happy in Carntyne we were earmarked for this property, and we couldn’t believe the en-suite which was specifically for my son’s needs.”

Joining Homes for Good on stage to discuss ‘Affordable Housing and Homelessness Best Practice’ will be other like-minded organisations including Un-Habitat, Barcelona City Council and Barcelona-based Sostre Civic, the SIPHO municipal programme, and Hàbitat3.

The session taking place on the 7th of June and co-organised by World Habitat, will encourage the spread of innovative housing practice around the world and to exchange and transfer knowledge and experience.

World Habitat Deputy Chief Executive, Louise Winterburn said: “At a time when housing problems seem to be increasing, ISHF provides an important opportunity to bring together world-leading housing experts working on similar challenges and talk about what is working in terms of creating safe, secure and affordable housing. Homes for Good is now an inspiration in Europe and providing leadership for social enterprises everywhere.”

Homes for Good, Founder, Susan Aktemel said “I am truly delighted to be in Barcelona at the International Social Housing Festival with our team. This year is Homes for Good 10th birthday and being able to share our journey with like-minded colleagues from around the world and be presented with the prestigious World Habitat Gold Award is an unbelievable honour. ”

To conclude the session, World Habitat and Un-Habitat, will present Homes for Good with their 2023 Gold World Habitat Award.

Find out more about Homes for Good and how they won this prestigious award.

Finance and Banking, Hampshire, News, Social Housing, South East England News

SASC invests second loan of £3.3m in One Small Thing to support pioneering project for women affected by the justice system

One Small Thing (OST), a charity dedicated to transforming the criminal justice system for women and their children, has received a second social investment loan of £3.3m from Social and Sustainable Capital (SASC).

The loan, from SASC’s Social and Sustainable Housing fund (SASH), will enable the charity to purchase and refurbish six properties in Southampton and Portsmouth, providing supported accommodation for up to 40 women involved in the criminal justice system in Hampshire, as part of its Hope Street project.

 

Hope Street is a pioneering residential community in Southampton, which will house up to 124 women and their children from spring 2023. This will prevent women receiving custodial sentences just because this is the only option available.

At Hope Street, women can meet the requirements of a community sentence in a safe, calm, and nurturing environment, where their children can live with them and they can access therapy, treatment and support. It will also help them access training and employment and make new links into the local community.

SASC’s first investment in OST was a £380k loan from its Community and Investment Fund, which funded five self-contained flats at Hope Street, as well as a large restorative outdoor space.

This latest investment will add further move on accommodation and marks the next phase of the charity’s vision for redesigning the justice system for women and their children in a way that can be replicated and scaled across the UK.

OST was founded in 2018 and is led by an inspirational philanthropist and tireless prison reformer Lady Edwina Grosvenor[i]. With a degree in criminology, Lady Edwina has devoted her 23-year career to prison reform. Hope Street aligns with the thinking behind the 2018 Female Offender Strategy[ii], which has a strong focus on community-based solutions.

 

Southampton was carefully selected as there are no prisons for women in Hampshire and Southampton is where a third of offences in Hampshire occur. Of the 877 women arrested in Hampshire between 1st November 2018 and 31st October 2019, 33% were from Southampton.

 

Women from Southampton who receive a custodial sentence are sent out of area, often more than 60 miles away from their home, making it very difficult for families to visit[iii].

 

Claire Hubbertsey, Chief Executive of One Small Thing said, “Hope Street will be a restorative environment where women can thrive and access vital services, without the added trauma of being separated from their children. It is designed to become a centre of excellence that can be replicated across the UK. We’re grateful that SASC shares our vison and is committed to helping us achieve our goals.”

 

Ben Rick, Co-Founder and CEO of SASC said, “Since our first loan to One Small Thing we have been impressed with how this project has developed and wanted to extend our support so they can add further supported accommodation. The programme will positively impact the life outcomes for many women and their children and enable them to break out of the cycle of crime and deprivation, and transition to independent housing.”

 

As of September 2022, SASH was fully committed, having allocated £64.5m of invested capital to charities across the UK. The successor fund, SASH II was launched last autumn, to provide a continuity of funding to frontline providers.

The fund will support charitable organisations that deliver a combination of support and housing to move from renting existing housing stock to owning it. SASH II is open for fundraising and targeting £125m.

 

For more information on One Small Thing visit: www.onesmallthing.org.uk

For more information on SASC visit: www.socialandsustainable.com

[i] https://onesmallthing.org.uk/board-of-trustees/edwina-grosvenor

[ii] https://www.gov.uk/government/publications/female-offender-strategy

[iii] https://static1.squarespace.com/static/5b2920c1a9e028ee9c2eb7b5/t/5f75dac80dd0c87c41a511e8/1601559241068/Hope+Street+Succesful+Planning+Application+statement+FINAL.pdf

Property, Social Housing

SASC makes second investment of £1.652m in Peter Bedford Housing Association to expand housing for socially excluded adults

Peter Bedford Housing Association (PBHA), has received a second social investment loan of £1.652m from Social and Sustainable Capital (SASC) to expand its portfolio of supported housing in Newham, London.

Set up in 1971, PBHA is a Registered Provider (Housing Association) and provides housing with support and access to community activities, training and employment for people who have suffered from social exclusion. Its aim is to prevent people returning to the streets and helping them get the support they need to move on and live independently.

SASC made its first investment of £2.05m from its Social and Sustainable Housing (SASH) fund in December 2021 to enable PBHA to purchase 12 one-bedroom flats in Newham to house single adults who have been homeless, or face challenges through mental ill-health, drug, or alcohol misuse.

The second loan will fund nine self-contained units in the same area. PBHA will use the additional properties to operate a recovery service for single homeless adults in Newham mirroring the one it runs in Hackney and Islington.

 

PBHA also receives funding from Greater London Authority’s Rough Sleeping Accommodation Programme, to fund their recovery service which helps people to sustain their tenancies, integrate in the local community and access support services. This includes employability and skills support and helping people access volunteering opportunities and progress into employment.

Government figures in July show 74,230 households in England became homeless or were at imminent risk of becoming homeless between January and March 2022. This represents an 11% rise in three months, and a 5% rise on the same period last year[i].

 

Clare Norton, CEO, Peter Bedford Housing Association said: “The initial funding from SASC put us in a good position to go out and find additional funding from the Greater London Authority (GLA). We have since become a GLA Investment Partner which will offer future avenues for investment. This has enabled us to really grow our purpose and meet more need in different areas, and with the cost-of-living crisis, the need is becoming more apparent every day.

“To be able to give former rough sleepers their own front door, their own place where they can cook their own food and just be themselves, and have that sort of freedom again, is vital. This second investment will help us to grow even further as we’ll have more assets from which to build more properties in the future or to borrow money against. Social investment has given us the opportunity for a strong future and to meet the ongoing demand for supported housing.”

 

Ben Rick, Co-Founder and CEO of SASC said, “PBHA were our first investee from our SASH fund in London. They have a great deal of experience in providing housing and support for socially excluded people and helping them get back on track with their lives. This second loan will enable them to provide further help to people that need it most.”

 

This investment makes PBHA the 19 organisation to receive funding from SASH.

As of September 2022, SASH was fully committed, having allocated £64.5m of invested capital to charities across the UK. The successor fund, SASH II, launches this autumn, to provide a continuity of funding to frontline providers.

 

The fund will support charitable organisations that deliver a combination of support and housing move from renting existing housing stock to owning it. SASH II is open for fundraising and targeting £125m.

For more information about Peter Bedford Housing Association visit: www.peterbedford.org.uk

For more information on SASC visit www.socialandsustainable.com

[i] https://england.shelter.org.uk/media/press_release/homelessness_in_england_rises_by_11_per_cent_in_just_three_months