Size of fund: £200m+
Strategy: Forward fund, lease and hold
Investors: Strathclyde Pension Fund, Scottish National Investment Bank, Nationwide Pension Fund, Places for People Scotland.
- Launched in March 2019 with a loan from the Scottish government and initial investment from Strathclyde Pension Fund and Places for People Scotland.
- Scottish affordable homes for rent strategy.
- A unique, place-based inflation-linked strategy, targeting the delivery of over 1,000 high-quality, sustainable and energy efficient affordable homes.
- Let at a discount to open market rents (Mid-Market & Rent tenure), this strategy forward funds former market-value developments and converts them into key worker housing, selecting locations that are within close commuting distance of major Scottish city centres.
- Nine sites across Edinburgh, Leith, Glasgow, Paisley, and Midlothian, with 585 homes delivered and a further 486 currently on site.
- Portfolio is managed by Touchstone Property Managers, a Places for People business.
- To date, the Fund has delivered attractive returns for investors via a strong linkage to the Consumer Price Index (CPI) and a tangible social benefits.
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