REG - Schroder BSC Social - High Impact Housing Investment in Savills SAH Fund

Schroder BSC Social Impact TrustAnnouncement

04/04/2024 11:15

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RNS Number : 3369J  Schroder BSC Social Impact Trust  04 April 2024

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)                                  0207 658 2016

 Schroder Investment Management Limited, Company Secretary   0207 658 6000

 Big Society Capital                                         Ehickinbotham@bigsocietycapital.com
 Emma Hickinbotham,

 Managing Director, Communications

 Winterflood Securities Limited                              020 3100 0000
 Neil Langford

Ehickinbotham@bigsocietycapital.com

 Winterflood Securities Limited
 Neil Langford

020 3100 0000

 

 

 

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