A local authority is to invest in a property fund that is
designed to own and manage accommodation for homeless people stuck on waiting
lists. Croydon Council’s initial investment will be £10 million in Real
Lettings, which has been set up in partnership by fund manager Resonance and
homelessness charity Broadway. Real Lettings is designed to produce a return
for investors that comes from an increase in property values and rental income.
Real Lettings is expected to secure 94 one and two-bedroom properties in London
for Croydon Council over the coming months. The investment is part of the
council’s 2014/15 capital budget. Read more on Inside Housing.
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