HSPG has completed its largest single investment to date, delivering 592 units of low-level Supported Housing. This landmark acquisition will support 18 local authorities in providing this vital accommodation with HSPG investing in excess of £70 million.
This completion follows news that house prices continued to rise for the eleventh month in a row this May, despite suggestions the market is beginning to slow. With the average cost of a home now reaching a new record high of £289,099, the most vulnerable members of our society could be left without access to a home. With an average weekly rent of just £126, this housing will provide an affordable and sustainable solution for Local Authorities to house the most vulnerable members of their communities.
At the same time, with the Bank of England warning that inflation could exceed 10% this October, households across the UK are facing a cost-of-living crisis. In fact, roughly 3 in 10 people are worried they may end up homeless over the next five years due to rising costs. As a result, the improved provision of Supported Housing has never been more urgent. In this sense, HSPG’s delivery of these units of affordable low-level Supported Housing is a significant step in HSPG’s wider goal to alleviate the UK’s homelessness crisis.
Equally, with all 592 properties to be delivered with a minimum EPC score of C within the next 12 months, this transaction forms part of HSPG’s commitment to delivering Supported Housing which is sustainable. Considering the UK’s built environment is responsible for 25% of the UK’s total greenhouse gas emissions, the provision of this sustainable housing is vital.
The completion of this landmark transaction, delivered in partnership with Manchester-based specialist lender Together, JMW Solicitors, Excellion Capital, Abacus and Kingsley Napley, follows recent news that HSPG has opened a third office in Leeds after staff numbers have doubled in size over the last two years. With HSPG targeting further expansion in the year ahead, this forms part of HSPG’s plans for further growth as it continues to strive to tackle the UK’s homelessness crisis.
Credit: Source link
