Investment manager launches multi-stakeholder scheme to provide high-quality social housing flats to vulnerable adults and free up hospital beds
Triple Point also commits share of fee income to provide much-needed hand cream to frontline workers
Triple Point Investment Management today announces that it has reached an agreement with Inclusion CIC, the social housing operator, and Cambridgeshire County Council, which will see the council temporarily take over a newly-built block of 18 flats which Triple Point owns, with Inclusion leasing the properties over the long term. The units will be used by the Council to provide supported housing to vulnerable adults who might otherwise have remained in hospital, freeing up beds and easing the pressure on the NHS during the COVID-19 crisis.
The agreement is the first of its kind for Triple Point, and as a result of the quick and successful turnaround of the deal, the investment manager is now assessing its wider portfolio of properties to examine scope for further opportunities to support the NHS at a time of severe pressure on both its services and staff.
Triple Point is an experienced and successful investor in social housing. As part of its Social Housing strategy Triple Point invests in high-quality, sustainable social housing accommodation for some of the most vulnerable members of society, including those with acute health needs, mental health issues and learning disabilities.
Triple Point’s properties are designed to allow those that are able the opportunity to move out of institutional care and to achieve a high degree of independence within the community. Triple Point has so far organized funding for 388 properties across the UK, which house over 2,700 people.
In a separate effort to support frontline workers in fighting the COVID-19 pandemic, since the beginning of March Triple Point has committed 15% of all Initial Fees taken from investment products towards its very own Helping Hands initiative, which initially aims to provide hand cream to key workers and NHS staff around the UK.
Last week, the investment manager delivered hand cream to 14 of affordable house builder Aster Group’s care schemes, in order to ease the discomfort felt by workers constantly washing their hands in line with strict hygiene regulations.
James Cranmer at Triple Point commented: “COVID-19 presents probably the biggest challenge the UK has faced for a generation. The NHS is at the forefront of our fight against this virus and we are very happy to have helped to ease the pressure on a number of hospitals through this deal. Similarly, vulnerable adults and those working in the affordable and social housing sectors also face a very testing time and we are delighted to be able to support them too. At Triple Point we are committed to doing all we can to help the NHS and the more vulnerable groups in our society and are passionate about incorporating people and purpose into our investment approach. We will continue to look for more opportunities to play our part in the country’s efforts to combat the impact of this virus and contribute further to measures that will accelerate the UK’s recovery.”
Meeting the Challenges Together
Triple Point, is supporting the NHS by funding the equipment that patients and frontline staff need, providing homes for vulnerable people and helping business owners find their way through the crisis.
Founded in 2004, they manage over £1.5bn of private, institutional and public capital. Their specialist teams invest across four themes – property, debt, infrastructure and venture capital.