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Archbishops’ Council pledges £2 million to house vulnerable people

01 November 2022

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THE Archbishops’ Council has pledged £2 million of its £25-million Social Impact Investment Programme to a fund that delivers supported accommodation across the UK, it was announced on Tuesday.

The second Social and Sustainable Housing Fund (SASH II), which is managed by Social and Sustainable Capital, allows charities and organisations to acquire and own portfolios of property to provide high-quality housing and targeted support to vulnerable people.

A first SASH fund in 2019 deployed £64.5 million to 20 organisations. SASH II aims to pool £125 million to help more than 30 organisations purchase 1000 properties, which it says would provide homes for 10,000 people over the life of the fund, including people who are homeless or at risk of homelessness, fleeing domestic violence, experiencing mental illness or substance addiction, ex-offenders, asylum-seekers, and young people leaving care.

Current estimates suggest that as many as 200,000 people in the UK are living in temporary, transitional housing.

The head of the Social Impact Investment Programme, Vanessa Morphet, said: “Our investment in SASH II will support social housing charities to own their properties, enabling them to provide the right combination of safe and stable accommodation and support services to vulnerable people, and to invest in the sustainability and energy efficiency of those properties over time. There is a clear alignment with the mission, and social and environmental goals of the Church’s Programme.”

The chief executive and co-founder of Social and Sustainable Capital, Ben Rick, said that he was “delighted” to have the support of the Church. “[SASH II] invests in outstanding organisations that are deeply rooted in their communities. . .

“Investment from the Church . . . into our second fund will allow us to lend to further organisations across the country at a time when their services are more vital than ever.”

Other investors in SASH II include Scottish National Investment Bank, Big Society Capital, Greater Manchester Combined Authority, Ceniarth, and Ogelsby Charitable Trust.

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