A fund that buys properties to let to homeless people has
reached £46m after two investors upped their initial stake. The Real Lettings
Property Fund, which is managed by St Mungo’s Broadway and investment company
Resonance, is designed to produce a return for investors that comes from an
increase in property values and rental income. Investor Big Society Capital has
increased its commitment by £10m to £15m, while another investor, the City of
London Corporation, has doubled its investment to £1m. A total of 219 homes
have been acquired or are in the process of being bought in the 18 months since
the fund was launched in 2013. The fund has helped 144 individuals and children
to date. Read more on the Resonance website.
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