A Second Investment from Social and Sustainable Housing
Social and Sustainable Capital (SASC), the award-winning UK fund manager and social enterprise, has made a £3.4m investment in Active Prospects, a leading care provider in the South East, that supports people with learning disabilities, autism, mental health needs, acquired brain injury and other complex needs.
The innovative investment product offered by SASC’s new housing fund – Social and Sustainable Housing (SASH) – will enable Active Prospects to purchase homes for the people they support.
As a result, Active Prospects will be able to offer 18 additional housing placements to people with learning disabilities, physical and mental health needs, enabling them to live full and aspiring lives.
Active Prospects plans to purchase new homes for people in East Surrey in partnership with Surrey County Council and also some houses in Crawley West Sussex, which will expand its geographical remit.
Demand for supported accommodation is rising. A 2018 report from learning disability charity, Mencap[i] revealed that demand for supported housing from people with a learning disability is projected to increase from 38,500 units in 2015 to 59,800 units in 2030, due to population increases of people with a learning disability and national policies that promote people moving out of or avoiding registered care to live in community-based housing.
Maria Mills, CEO at Active Prospects says,
“We are absolutely delighted to be working with SASC and this loan will enable us to help another 18 people with complex needs to move from long stay institutions into great community homes.”
Mark Bickford, Director of Investments at SASC says,
“We are delighted to invest in Active Prospects. It is a fantastic social enterprise addressing a significant need for supported living in the community for people with learning difficulties and autism. Its services are all rated good by the Care Quality Commission and it has had significant experience in growing and developing its housing stock having delivered £8m of new-build, replacement and modernisation programmes in the last four years.”
“We believe the trend towards offering support services in the community could present a wider opportunity for social investment within the housing sector with more providers like Active Prospects working in tandem with the government and commissioners.”
SASC is working with several high impact organisations looking to access funding in the coming months. SASC is targeting a total fund size of £100m for SASH which will allow it to support 30 organisations to house 10,000 people over the next 10 years.
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Email: jenny.odonnell@kayakpr.co.uk
