Accelerating the delivery of new, affordable and energy efficient homes for low-income households.
A social housing shortfall is resulting in 130,000 children living in temporary accommodation in England, the highest figure since records began. Meanwhile, building new homes has become increasingly challenging due to rising costs and a housing association sector under pressure to focus its resources on improving existing stock.
BSC invests into best-in-class social property funds capable of attracting institutional capital at scale to unlock new, affordable housing supply.
The fund will target long-term strategic equity partnerships with housing associations to deliver affordable housing for low-income households. Through its sister-company Octopus Energy, the fund will also target high standards of energy efficiency and strategies to address fuel poverty.
Initial capital aims to build more than 500 affordable homes for families and older people across the UK and in the future the fund aims to deliver 5,000 homes.
All homes will be will be owned by NewArch Homes Limited, the Fund’s Registered Provider of Social Housing.
Fund size£62.5 million
Big Society Capital commitment£10 million
Investment date15 December 2023
Fund managerOctopus Investments
Key partnersNew Arch Homes Limited