Cheyne Social Impact Property Fund
|Primary impact area||Impact area||Geographic location of impact||Investment commencement||SDG alignment|
|Social||Housing & Social Real Estate||UK||2020||
Access to affordable, secure, and suitable housing is an important determinant of health, and is an important foundation for participation in employment and community. Poor quality housing has detrimental effects on both physical and mental health. The financial stress related to maintaining secure housing and lack of affordable housing may amplify poor mental health.
The Cheyne Social Impact Property Fund was launched to help tackle chronic shortages of housing for disadvantaged groups and address the challenge of social and affordable housing.
Cheyne works with organisations that are delivering services such as social housing, elderly additional care, housing for previously homeless adults, adult social care and supported living for people with physical and/or learning disabilities.
Cheyne’s Impact Real Estate team acquires or builds properties and then leases them to social sector organisations at affordable rates.
Increasing supply of affordable housing supports a wide span of people in the community, including key workers, by increasing supply of housing under ethical market rents. Further, by improving the supply of affordable homes, the fund also supports reducing the costs that local Council authorities may pay to fulfil duties to provide homelessness prevention and relief.
To date, the Fund has invested in 882 homes across the UK. Cheyne will deliver 389 new build homes which are allocated for affordable, sub-market and private tenures; and purchased 155 street properties which are leased to local organisations to provide tenants with supported living (care), and stables homes to those at risk of harm or homelessness.
More than 70% of properties purchased or built by the Fund have supported affordable housing purposes (i.e. those that are somewhat below market rent) and support housing supply for people such as key workers - in locations as diverse as Sheffield, Bristol, Luton and Barnet.