{"id":18439,"date":"2025-01-14T08:23:33","date_gmt":"2025-01-14T08:23:33","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=18439"},"modified":"2025-01-14T08:23:33","modified_gmt":"2025-01-14T08:23:33","slug":"30m-investment-into-gloucestershire-homelessness-property-fund","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18439-30m-investment-into-gloucestershire-homelessness-property-fund","title":{"rendered":"\u00a330m investment into Gloucestershire homelessness property fund"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Gloucestershire Pension Fund (GPF) has invested \u00a330m into a homelessness property fund to buy 90 homes to house individuals and families who are currently living in unsuitable temporary accommodation.<\/span><\/p>\n<p>The money has gone into a fund managed by social impact investor Resonance. \u00a320m of this investment will be invested directly into immediately buying and refurbishing around 90 properties in Gloucestershire, helping the region cut the number of households in unsuitable temporary accommodation.<\/p>\n<p><span style=\"font-weight: 400;\">The model operates by attracting capital from institutional investors, such as pension funds, to acquire properties, refurbish them to a high standard, improve their energy efficiency and lease them to expert housing partners, including homelessness charities and housing associations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tenants are provided with stable, affordable accommodation in safe areas in the heart of local communities. They will also receive support with their health, wellbeing and in seeking employment and training opportunities. This support will be provided by Developing Health and Independence (DHI), who will lease the properties from the fund.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chris Cullen, Head of Homelessness Property Funds at Resonance, said: \u201cThere are over 117,000 households living in temporary accommodation across England, including over 130,000 dependent children, and this number continues to rise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe are very grateful for Gloucestershire Pension Fund\u2019s place-based investment into National Homelessness Property Fund 2, which illustrates the difference that local government pension funds can make to the area in which their members live.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He continued: \u201cIt will enable us to provide much needed homes in Gloucestershire for some of those households that are in temporary accommodation and that don\u2019t have a place to call home.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Across all of Gloucestershire Local Authorities there were, as of March 2024, 315 households in Temporary Accommodation, including nearly 200 in Gloucester City alone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This news comes as many councils grapple with mounting financial pressures, with \u00a32.29bn spent a year on providing emergency temporary accommodation to homeless households, an increase of 29% from the previous twelve months.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rosie Phillips, CEO at DHI, added:<\/span> <span style=\"font-weight: 400;\">\u201cAs a social inclusion charity, the provision of safe affordable housing is of paramount importance. Housing is the single biggest cost pressure on struggling individuals and families and lack of affordable housing causes stress, inequality and poor health.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWithout a secure place to live, progress in other aspects of life will be poor. A safe place to call home provides people with a platform on which to build their lives.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>90 homes will be bought to house people currently living in unsuitable temporary accommodation<\/p>\n","protected":false},"author":18,"featured_media":18440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"coauthors":[81],"class_list":["post-18439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-featured-story","tag-gloucestershire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00a330m investment into Gloucestershire homelessness property fund - South West<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18439-30m-investment-into-gloucestershire-homelessness-property-fund\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00a330m investment into Gloucestershire homelessness property fund - 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