Houses4Homes outlines £1.5bn investment plan



The UK’s first ever social housing residential Real Estate Investment Trust has set out plans to invest £1.5bn as it prepares to list on the London Stock Exchange according to

Formerly known as SAF Housing Solutions, Congleton-based Houses4Homes is planning to provide £900m funding for new build social housing over three years.

It is also looking to spend £250m of new build extra care and supported accommodation and some £500m on transferring existing stock.

It is aiming to attract the cash from institutional investors which will be loaned to housing associations, local authorities and other landlords.

Phil Shanks, chief executive of Houses4Homes, said: “We are confident the REIT has bridged the credibility gap now. Housing providers understand that we will offer them a low-cost, reliable source of funding and an opportunity to invest their reserves in the REIT itself.

“Local authorities are increasingly realising that grant-aiding schemes is simply money down the drain and the opportunity to put grant money into REIT preference shares means they can protect that investment, withdrawing the money once a project has trended out.”

Mr Shanks added that Houses4Homes is also speaking to the Homes and Communities Agency over potential stock transfers.

Houses4Homes, which operates from Huddersfield and Congleton, is set to announce its nominated adviser for the listing which is now expected to take place in the new year.