social property.jpg

Social property

We want to build a housing investment ecosystem that increases the supply of social and affordable housing, so that there are more safe, secure and affordable homes for the people that need them. Through our investments, we back the models that work fairly for all stakeholders, and select managers that understand the social issues involved. We recognise that the volume of private capital entering the social and affordable housing market is growing, and that we have a role to play in influencing that capital to be genuinely impactful.

To tackle the UK housing crisis, we need to work with institutional investors who bring the scale of capital required to back high-impact housing opportunities, and simultaneously use our own capital to back the fund propositions that can scale.

  • £37.5m committed to three social and affordable housing funds in 2021
  • £187m signed by Big Society Capital in social property since 2012
  • 4000 homes delivered from our portfolio and 8,500+ people housed

Commitments from 2021

In 2021, Big Society Capital committed £37.5 million across three funds. Two commitments were to funds that partner with housing associations to provide affordable housing to people on lower incomes, and that exemplify impact management and governance best practice. The third was a further commitment to the Everyone In Social Investment Pilot , a series of funds that provide hundreds of secure and affordable homes for those sleeping rough or at risk of sleeping rough as a result of the pandemic.

One of the commitments of 2021, was £10 million to the Man GPM RI Community Housing Fund, aiming to deliver 3,500 new homes by 2026, with at least 50% being affordable homes (social rent, affordable rent, key worker and shared ownership) and documented ambitions to reach 70%. Affordability is linked to local incomes, and all homes will be delivered to high environmental standards, which will also help alleviate fuel poverty.

Who are our investments reaching?

The investment portfolio continued to make new investments with high-impact housing organisations. For example, by the end of 2021, the Social and Sustainable Housing (SASH) fund managed by Social and Sustainable Capital, had invested £46 million in charities and social sector organisations. The fund enables organisations to buy and manage their own properties, and in turn better support their vulnerable beneficiaries with shelter and support services.

Simon Community Scotland

In 2021, Social and Sustainable Housing (SASH) made a £5 million investment in Simon Community Scotland, a charity supporting people in Edinburgh through its Streetwork service. It delivers a range of help and support, including responding to people in crisis via a 24-hour helpline, providing services at its Holyrood Hub, and delivering outreach on the capital’s streets

Implementing new standards

Thirteen managers signed up as Adopters of our housing investment sector initiative, The Equity Impact Project. In doing so, they commit to reporting against a standard impact framework developed by Big Society Capital and The Good Economy, and endorsed by Homes England, which aims to increase transparency, comparability and accountability in the sector. and ensure private capital is a force for good in meeting the UK’s housing challenges.