Thriving Investments

Wonderful news to have our New Avenue Living Fund win the Outstanding Fund Achievement award this evening! Bravo William Kyle and Jennifer Low! This fund delivers rental homes at discounted rents - providing energy efficient, new homes to essential workers within easy commute of Edinburgh and Glasgow and at #affordable pricing. We are looking to widen the concept both in Scotland and in England - watch this space.

Carrying on the theme of good news for our New Avenue Living fund in Scotland, Glasgow City Council recently approved the bulk sale of 58 homes to the fund in the Athletes Village development (Phase 2). These homes will be let as Mid Market Rent (MMR), much needed in the East End area of Glasgow. #midmarketrent #thrivingcommunity #essentialworkerhomes #NewAvenueLiving https://lnkd.in/dbAdpqTe

A wonderful end to the week to note that as part of the 2024 programme for Government, ministers have committed further funds to support more mid-market rent homes in Scotland building on and due to the success of our New Avenue Living fund run so ably by William Kyle. The New Avenue Living fund provides modern rental homes for essential workers and is set to deliver 1200+ homes which are managed by our sister company, Touchstone Residential Property Management. See the piece from inside housing below: https://lnkd.in/de6jvb8T

In the first of our Non-Executive Director video series, we sat down with Claire Ainsworth, who has been on the Board of Directors since the company’s inception, to discuss our purpose, key values – growth, creating thriving communities and stakeholder transparency – as well as the importance of our relationship with our parent company Places for People.   “Our purpose is to harness investors’ money to create more housing stock in a responsible way”   #ThrivingCommunites #NED #ThrivingInvestments  

We’re absolutely chuffed to have been shortlisted for Outstanding Fund Achievement at this year’s AREF (The Association of Real Estate Funds) Awards, which recognises the success of our Mid Market Rent (New Avenue Living) Fund. Since launch, it has delivered 678 energy efficient homes, with further homes currently under construction/ contracted taking the total to 1,150 homes for keyworkers in Scotland. These homes deliver sustainable returns, alongside a tangible social impact by addressing the chronic shortage of high-quality affordable homes in Scotland and the regeneration of sustainable residential-led communities. As our recent research revealed (see link below), there is an urgent need for institutional investor-backed, regional strategies in England & Wales that will deliver key worker housing at pace and scale, similar to our MMR fund. In particular, key workers across the commuter belt and metropolitan locations of Manchester, Birmingham, South Wales, Bristol and Bath are most exposed to the double whammy of high rents and a shortage of homes, with nearly half of renters spending more than 30% of their income on rent in the UK’s most unaffordable locations. https://lnkd.in/e9Qb2Jq9 #AREFAwards24 #fundmanagement #CommunityGains

Thriving Investments, like so many in the housing sector, are ready to work with the new government by bringing in more private capital into the sector and creating homes in the right place and at the right price. We published this week exclusive research together with Dataloft (now PriceHubble) revealing a new perspective on #rentalaffordability in the UK. In order to guide our capital towards the regions where we can make the biggest #impact by delivering new homes and communities, we sought to reveal the most unaffordable local authority locations for key worker renting across the country. Hotspots of acute housing need are scattered across the UK, with renters in the commuter belt and key metro locations of Manchester, Birmingham, Bristol, Bath and south Wales being especially challenged. In the UK's most unaffordable locations, median rents are 26% more expensive than what would be considered affordable (relative to local incomes for single income households), while affordability constraints are also forcing key workers to live increasingly further from their workplaces. At Thriving Investments, a key part of our vision is providing homes across all tenures, with a strong focus on providing high quality housing for those on or below median incomes. By creating housing specifically for the keyworker demographic, we are able to reach the long-under served “squeezed middle”, providing strong financial returns that also tackle the social issues of the day and provide significant social impact. To read the summary of the report’s findings, click here https://lnkd.in/ephUGdxm #keyworkerhousing #rentalcrisis #socialimpact #affordablehousing #PRS

Thriving Investments and igloo Regeneration are delighted to have been shortlisted as a finalist at this year’s EG Awards under the Regional Deal category. This nomination recognises our successful partnership with Housing Growth Partnership which saw us launch a £390m JV last year to deliver 1,200 sustainable homes across major UK regional city brownfield sites. At a time when the pace of new home delivery is rapidly declining, our commitment remains to create more #ThrivingCommunities and energy-efficient homes through successful #UrbanRegeneration. #CapitalWins #CommunityGains #EGAwards #Finalist #RegionalDeal

We are thrilled to support the British Property Federation #HousingManifesto launched today, which sets out a number of practical proposals to tackle the UK #housingcrisis. The manifesto highlights the critical importance of high quality homes across tenures beyond just private for sale, including true #affordablehousing, purpose built #student accommodation #pbsa, high quality #BuildtoRent homes and fit-for-purpose homes for #olderpeople. At Thriving Investments we have Four Guiding Principles that we use as the basis of our fund objectives and tailored ESG approaches. The manifesto aligns beautifully with these and we are keen to play our part in delivering the mix of quality housing that is so essential to the UK's economic and social prosperity, as set out in the BPF Housing Manifesto. Thriving Investments Guiding Principles: 1. Bringing #institutionalcapital to tackle the #housing crisis 2. Developing and nurturing thriving #communities 3. Supporting the #health and #wellbeing of #residents and communities 4. Protecting the #environment and restoring #naturalcapital

As proud members of the Impact Investing Institute's Place Coalition we are pleased to see this report launched today sharing insights into the ongoing work on Place-Based Impact Investing (PBII). Thriving Investments and igloo Regeneration contributed to the seminal 2021 study on PBII in the Local Government Pension Scheme (LGPS) by Impact Investing Institute, Pensions for Purpose and The Good Economy.  Since 2023, we've been proud sponsors of the TGE Impact Labs and founding members of the TGE PBII Network, which has generated enormously valuable conversations on how to target institutional investment into place-based impact across the UK. Thriving Investments' approach is entirely centred around targeting investment to achieve the best outcomes for places based on what those communities want and need. Our strong track record in delivering high-quality, sustainable homes at a discount to market rents funded by LGPS/ others in Scotland is now expanding into England and Wales. If you're interested to find out more please speak to one of our team at UKREiiF this week or contact Adam Tutka and William Kyle to set up a meeting.  #ResponsibleInvestment #placemaking #lgps #ImpactInvesting

Social Impact v Social Value – what does this really mean for the Residential Sector? As a business focussed on creating long term impact through the provision of housing across the UK, this question is very pertinent! Our Placemaking and Investment Director, Alexandra Notay will be chairing a panel to discuss this complex topic at the LD Events Property Resi ESG & Impact conference tomorrow, 15th May at the Cavendish Conference Centre. The expert panel includes Jonathan Martin Director of Inward Investment, London Borough of Waltham Forest, Sarah Forster CEO, The Good Economy, Niamh Waldron Director, Sigma Capital and Drew Ritchie Investment Director at Better Society Capital. Alex and the panel will be digging into the detail of #socialvalue #measurement, #monetisation and #compliance as well as best practice in delivering tangible #socialimpact for #communities. The session will explore how #residential investors, developers and operators are adapting to greater demand for impact across the #living sector. https://www.resiesg.com