Schroder BSC Social Impact Trust
plc
High Impact Housing Investment in
Savills Simply Affordable Housing Fund
The Board of Schroder BSC Social Impact Trust
plc (the "Company"), which provides a unique investment opportunity
to address UK social challenges, is pleased to announce a £5
million commitment to Savills IM Simply Affordable
Homes Limited Partnership (the "Fund" or "SAH"), which will lie
within our High Impact Housing asset class allocation.
The Fund will be delivered by the experienced
investment management firm Savills Investment Management, who has a
proven track record in managing over £22.1 billion of real estate
assets, of which more than £1.5 billion are residential real
estate. The fund management team and the Fund's established
For-Profit Registered Provider board has a strong
track record in delivering social and affordable housing and
will bring a wealth of experience to the Fund through their
significant sector expertise and close relationships with Housing
Associations, as well as by leveraging Savills Investment
Management's platform.
The Fund is focused on delivering affordable
homes across the UK, by using its established strategic
partnerships with high quality Housing Associations, developers,
and housebuilders, through a mix of acquiring existing stock and
delivering new build homes. The Fund will invest in and manage a
diversified portfolio of affordable housing, comprising both
affordable and social-rent homes as well as shared-ownership homes,
generating government-backed and inflation-linked income
streams.
The Fund aims to deliver strong impact in line
with the Company's Impact Thesis and Theory of Change: properties
will be affordable rented (20% or higher discount to market rates),
social-rent or shared ownership homes, with a focus on areas with
high local authority waiting lists and areas ranked within the
lowest 40% in the Index of Multiple Deprivation. Furthermore, the
Fund operates under enhanced governance frameworks and a
sustainable investment strategy, targeting high environmental
standards and progressing towards Net Zero Carbon by
2040.
Commenting on the SAH Investment,
Jeremy Rogers, CIO of Big Society Capital, Portfolio Manager,
Schroder BSC Social Impact Trust plc, said:
"The UK continues to face a housing crisis with an acute lack
of social and affordable housing and this fund will deliver homes
for lower income households and people currently in need of social
housing in areas in most need. The SAH management
team have a strong track record, with over 30 years' expertise and
deep sector knowledge with long standing housing association
relationship. We believe they are well-placed to deliver high
quality financial and impact returns through providing affordable
housing at-scale."
For further information, please
contact:
Schroders
Augustine Chipungu (Press)
Schroder Investment Management Limited, Company
Secretary
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0207 658
2016
0207 658
6000
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Big Society
Capital
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Emma Hickinbotham,
Managing Director, Communications
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Ehickinbotham@bigsocietycapital.com
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Winterflood
Securities Limited
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Neil Langford
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020 3100
0000
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