Resonance secures £5m investment for 25 supported living homes for adults in Oxfordshire
Social impact investment company Resonance has secured a £5 million investment from Oxfordshire County Council which will help provide up to an additional 25 supported living homes for adults in Oxfordshire with care and support needs.
This multi-million pound investment into the Resonance Supported Homes Fund (RSHF), which provides person-centred housing for those with learning disabilities, autism and mental health challenges, takes the fund size to over £15 million, enabling it to create an even greater impact in the sector.
The RSHF has a target size of between £50-£100 million and aims to provide 275 long-term, specialised supported homes – including flats, houses and bungalows – across the UK for 500 people.
Many adults with learning disabilities, autism and mental health problems are struggling to access homes suitable for them that meet their needs and remain on long waiting lists with limited access to mainstream housing options.
With support, Resonance believes that people with learning disabilities, autism or mental health issues can live fulfilling lives as participating members of their local community.
All properties are purchased with specific tenants in mind, ensuring properties are fit for purpose and can provide an environment for tenants to flourish.
John Williams, Managing Director of Property Funds at Resonance, said: “We are absolutely delighted to receive this investment from Oxfordshire County Council which will enable the fund to make a very real difference to the lives of people with learning disability or autism, in the region.
“This investment means individuals will be able to live in the right home for them, so that they can live fulfilled lives in their local community, close to family and friends.
“We are particularly pleased Oxfordshire County Council is the second local authority – alongside Greater Manchester Combined Authority, one of the seed investors – to invest in this fund, recognising that everyone needs a home to call their own and to be able to live their lives with independence and choice.
“This investment is a major milestone for the fund and should create real impact in the learning disability sector as well as enabling us to attract further like-minded investors into it.”
Councillor Jenny Hannaby, Oxfordshire County Council’s Cabinet Member for Adult Social Care, said: “Most people want to be supported to live within their communities, rather than in residential care, so this is great news for those adults in Oxfordshire with additional support needs who want a home of their own.
“As demand for supported living accommodation in the county grows and as people live longer, it is through programmes such as this one with RSHF that we are able to provide the support needed.
“We will empower people to live the lives they want to lead, in their communities, close to their friends and families, and with as much independence as possible.”
The RSHF is open to institutional, pension fund and professional investors in the UK and internationally, who are not only attracted by the potential of a financial return from rent and capital appreciation, but also the strong focus on achieving substantial positive social impact by supporting people living in inappropriate and challenging circumstances.
Resonance would particularly like to hear from local authorities with housing needs in this field, and who are looking for a cost effective solution and financial return.
Last year, the firm managed an investment of over £20 million which would support housing for people with disabilities and those in priority need in Greater Manchester.https://thiis.co.uk/resonance-secures-5m-investment-for-25-supported-living-homes-for-adults-in-oxfordshire/https://i0.wp.com/thiis.co.uk/wp-content/uploads/2021/09/Resonance-Supported-Homes-Fund-2.jpg?fit=900%2C601&ssl=1https://i0.wp.com/thiis.co.uk/wp-content/uploads/2021/09/Resonance-Supported-Homes-Fund-2.jpg?resize=150%2C150&ssl=1Government & Local AuthoritiesHousingInvestments & FundingNewsroomSector NewsThird Sectoraccess,housing,Learning disabilities,living,Oxfordshire,Resonance,RSHF,social care,supportedSocial impact investment company Resonance has secured a £5 million investment from Oxfordshire County Council which will help provide up to an additional 25 supported living homes for adults in Oxfordshire with care and support needs. This multi-million pound investment into the Resonance Supported Homes Fund (RSHF), which provides...Liane McIvorLiane McIvorliane@thiis.co.ukAdministratorTHIIS Magazine