Giroscope is an award-winning housing charity based in Hull which renovates empty and derelict properties to provide homes for those in housing need.


Key information

  • Focus area

    Social property
  • Investment type

    Enterprise debt
  • Region

    Yorkshire and the Humber
  • Duration

    15 years
  • Investment amount

    £1 million
  • Cost of capital

  • Challenge

    The collapse of Hull’s fishing industry left many parts of the city with low levels of owner-occupation and a surplus of poorly maintained private rented housing. Like many cities, Hull is facing challenges regarding the availability of good quality housing, with many people on lower incomes being priced out of the housing market.

  • Approach

    Giroscope renovates empty and derelict properties, bringing them back into use to provide affordable housing to those in need. Renovating empty properties has also allowed Giroscope to run training and employment programmes for those at risk of social exclusion. Many beneficiaries often go on to live in a Giroscope home, sometimes one they have renovated as part of the volunteer program.

  • Revenue model

    The loan enabled Giroscope to acquire properties that could not be funded through traditional mortgages, with the charity often benefiting from being cash buyers. Giroscope is able to make loan repayments from the rental income generated from the portfolio of properties.

  • Impact

    Giroscope has provided homes for over 250 people and has expanded its training and community services, working with over 100 volunteers. Giroscope has also been able to renovate its office headquarters, which now serves as a walk-in community hub for local social enterprises and individuals to access.

Related investment

Community Investment Fund

Fund investing in community-based social enterprises and charities in England.

Learn more
Giroscope 24.jpg
Douglas Sloan new.jpg

Douglas Sloan

Managing Director
Talk to me about:
ImpactVC and impact venture at BSC

You may also be interested in

  • Homes for Good 3.jpg


    We want to create a more inclusive housing market, providing high quality, safe and affordable homes so people can lead better lives.

    Learn more
  • Cherry Tree 2.jpg

    Creating new ideas

    We work with expert partners to create and design new investments.

    Learn more
  • Reboot West.jpg


    Our approach to impact is deeply embedded in our investment process, decision making and portfolio management, making sure it runs through everything we do.

    Learn more