As part of the £70m investment, HSPG acquired 12 homes in Wigan. Credit: PNW

HSPG invests £70m in supported housing

The social impact real estate firm has completed the acquisition and repurposing of 592 homes across the country for the purpose of low-level supported housing – including 101 in the North West.

Supported housing is geared towards those who may need support and help to live independently, including those who are at risk of homelessness, people with learning disabilities, those with mental ill-health and individuals who are fleeing domestic abuse.

HSPG worked with 18 local authorities nationwide to assess the need for this sort of housing in their communities.

The result in North West was 28 new supported housing facilities in Cheshire West and Chester, 13 in Oldham, 12 in Wigan and 48 in Bolton. These homes will be leased out to housing providers, including charities that aid those in need.

The homes, which include houses and flats, have been fixed up and have a minimum EPC rating of C.

They are part of the new investment platform, Domus Social Housing, which launched in December. HSPG investment director Mark Edwards said that HSPG has seen considerable interest from institutional pension funds and other investors looking to get involved in a program that targets environmental and social needs.

Edwards added that despite the £70m deal, HSPG is on the hunt for more properties to acquire and repurpose.

“We’re still very active in this market,” he said. “Come and speak to us.”

HSPG co-founder Guy Horne said that the £70m investment in 592 homes was the group’s largest single investment to date.

“With households currently facing significant financial instability at the very same moment as house prices continue to rise, the need for affordable supported housing has never been more pressing,” Horne said.

“This acquisition will go a long way towards achieving our ultimate goal of helping to solve the UK’s homelessness crisis and ensuring the most vulnerable members of our society have access to a high-quality home.”

HSPG worked alongside specialist lender Together, JMW Solicitors, Kingsley Napley, Abacus and Excellion Capital on the investment.

Helping HSPG with its mission to create more supported housing fit in well with JMW’s own goals, said Thomas Pearson, head of real estate commercial at JMW.

“At JMW Solicitors we are committed to giving back to our local community,” Pearson said.

“With some of the most vulnerable members of our society currently facing significant financial difficulties, we are very proud to have partnered with HSPG on the delivery of this much-needed supported housing,” he continued.

“Homelessness is a rising issue in the country and this supported housing will be an essential step in helping to alleviate the crisis.”

Ashley Marks, head of real estate at Excellion Capital, discussed how this investment was timely.

“As house prices continue to rise and households face unprecedented financial challenges, the Excellion Capital team is very pleased to have assisted HSPG in making this vital provision of housing financially viable,” Marks said. “Given our focus on real estate finance, we were delighted to partner with HSPG on the delivery of this supported housing.”

Alex Bodie, head of fundraising for social housing at Together, said: “As a business with an established reputation in the property sector, we’re absolutely committed to accelerating the delivery of inclusive communities and affordable homes, and we’re delighted to have partnered HSPG on the delivery of this significant deal.”

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