Through buying and renovating empty properties in deprived neighbourhoods of Hull, Giroscope provides homes for those in need at affordable rent.
The charity supports volunteers, many of whom are at risk of social exclusion, through a comprehensive training and employment programme.
Giroscope was set up in 1985 by a group of volunteers in response to the housing crisis in deprived neighbourhoods of Hull. Many areas suffered following the collapse of the trawling industry and the area was left with low levels of owner occupation and an excess of poorly maintained private rented housing. Giroscope buys and renovates empty property to provide homes for those in need – the charity also engages and trains a large cohort of volunteers, many of whom are at risk of social exclusion.
SASC has provided £250,000 of liquidity to Giroscope to facilitate their continued growth. The investment has enabled the charity to immediately purchase three properties, one of which will be renovated into a community hub providing support services, training and enterprise as well as space to be rented by other community businesses.
The investment will help to grow Giroscope’s portfolio and support a greater number of people in need through housing provision as well as through education and training in their volunteering programme. Giroscope will also expand its social impact through new self-build projects of 4-6 houses to be developed on a piece of land to the rear of its newly acquired property on Coltman Street.