HSPG completes new £11.5m investment delivering 95 units of Supported Housing
HSPG, the UK’s leading social impact real estate firm, has announced the completion of a new investment, delivering 95 units of Supported Housing across 11 local authorities. The investment is completed in partnership with Kingsley Napley and Abacus Solicitors, with HSPG investing £11.5m in the much-needed delivery of new housing.
Following HSPG’s largest single investment earlier in June, this delivery represents a further addition to the company’s impressive portfolio and underlines HSPG’s commitment to alleviating homelessness across the country. The new units delivered by HSPG will be let at an average weekly rent of just £105, providing an affordable and sustainable solution for local authorities to house the some of the most vulnerable members of their communities.
A sizeable portion of the units will be located in Stoke-on-Trent, which has seen house prices rise disproportionally to the national average due to lack of housing supply. Similarly, the shortage of housing stock in Leeds has dramatically impacted rents and house prices in the Yorkshire city, as three-quarters of people who have tried to move home in the last six months have been unable to do so. HSPG’s latest investment will deliver new units to the area, helping increase supply and improve affordability.
Serving councils across the country, from Greater London to the Midlands, Yorkshire, and Lancashire, HSPG is continuing its mission to deliver high quality housing to areas which are in desperate need of Affordable and Supported Housing supply, in order to protect and revitalise communities. Decades of underinvestment and missed building targets have made this task more urgent than ever.
The completion of this transaction follows news that house prices are set to end this year 8% higher than they were at the end of 2021, with June marking new record highs in the market. As inflation is predicted to reach double figures this year, the homelessness crisis is worsening, and new housing supply is urgently required to meet the living needs of millions of citizens.
This investment also follows recent news that HSPG has opened a third office in Leeds after staff numbers have doubled in size over the last two years. HSPG also strives to invest in new housing with excellent sustainability standards to reduce the overall impact of the built environment on the UK’s carbon emissions, providing a holistic and sustainable solution to the UK’s homelessness crisis.