Sector: Housing & tackling homelessness
Service: Raising capital
Action Homeless is committed to improving the lives of people affected by homelessness. Their approach to tackling homelessness goes beyond providing a roof (although they recognise this as a vital first step). Everyone that walks through one of their front doors has access to a wide range of services which aim to tackle the causes and consequences of their homelessness. Last year alone, they provided emergency housing and specialist support to over 400 people.
Despite a rising rate of homelessness, there are 5,000 empty homes in Leicester. Action Homeless wanted to address this mismatch of supply and demand for housing by using social investment to purchase and renovate empty homes before providing safe, long-term accommodation for people experiencing homelessness.
In September 2015 Numbers for Good began working with the senior leadership team of Action Homeless using a grant from Big Potential Breakthrough. Our work focused on:
- Reviewing and developing the business case for purchasing empty homes
- Stress-testing the assumptions of the business plan and financial modelling of investment scenarios
- Working with the senior leadership team and charity trustees to identify the most appropriate form of investment
- Negotiating with investors
After carrying out our work plan, Action Homeless secured a loan from Charity Bank of £400,000 to purchase three empty properties that will provide safe accommodation for 15 people experiencing homelessness. In addition Charity Bank have committed an additional £200,000 to purchase two more properties housing an additional eight people.
Mark Grant, Chief Executive, Action Homeless said: “The support we received from Numbers for Good was invaluable in enabling the leadership team and Trustees to fully appraise the opportunities and risk of using social investment to further our objectives. With their help we were able to identify and secure the best investment partner that could understand and meet our needs.”