Strategic advice & funding for housing, care & support providers

Contact us now to discuss your requirements

    Islington has plans to use £150m from its pension fund to build hundreds of new social housing.

    Old Doors

    It is thought to be the first London borough to invest its pension scheme in housing. 

    Richard Greening, chair of the Islington Council pension sub-committee stated, ‘Our analysis confirms that these assets can offer good investment returns while helping to provide the investment in homes and jobs that our economy needs’. Reports Inside Housing.

    Currently, the Islington pension scheme is worth £1bn and has 19,000 members. It has also expressed its interests in working with a ‘collective investment vehicle’ (CIV) with other London boroughs to invest pension funds together. Jointly, the 33 London borough pension schemes have more than £24bn in assets under management.

    Susan Kane, a partner at consultancy Altair stated, ‘Property is a sensible investment for a pension scheme, and with such a severe housing need in many parts of London, it would make a good deal of sense for others to follow Islington’s lead.’

    An Islington Council spokesperson explained that the homes would not all be in Islington as this would ‘concentrate risk too much from an investment perspective’.

    Though, the borough is interested in a London wide social housing fund which Islington tenants could be nominated to.  However, the borough is interested in a London wide social housing fund which Islington tenants could be designated to. These homes would be at social rents as these ‘deliver inflation linked returns over a long period’ and ‘have a low void rate because of demand’.

    What do you think of this? Tweet us your comments @suppsolutions

    Image source: 

    December 16, 2014 by Shumila Begum Categories: Government And Reforms

    Latest Briefing

    Introduction The National Statement of Expectations for Supported Housing (NSE) was finally published on 20 October 2020, five years after the 2015 Comprehensive Spending Review suggested regulatory and oversight changes were needed, although in 2018 the government >>>

     

    Customer endorsement

    Responding to the DWP Consultation:  Housing Benefit Reform - Supported Housing

    "I thought this briefing was very good and very useful.  The presentation was clear, well argued and I always find Michael gives me food for thought even if I don't agree with everything he says.  I really like the way he facilitates a discussion in the room and I learn as much from other participants as I do from the presenter which is always good. Right length, right tone."

    R.P. - Richmond Fellowship

    Quick Contact