£9.2m Golden Lane Housing Bond money has been spent or committed to buy new homes
Golden Lane Housing’s charity bond reached its £10m target in an oversubscribed offer in June, enabling us to provide the desperately needed housing for people with a learning disability in specially adapted homes in the community.
So far, we have spent or committed £9.2m buying 25 properties which will be home to 94 people with a learning disability in high quality houses and bungalows in residential areas and supported by Mencap. The remaining £800,000 will be spent by March 2014.
The houses and bungalows will be there for future generations of people with a learning disability – the bond has enabled us to create a lasting legacy.
We have over 700 individual investors and a range of institutional investors such as charitable trusts and foundations. Our reach has extended considerably to people who now know more about housing and learning disability. The publicity during the time of the bond issue has helped to change people’s attitudes, with positive stories about (and pictures of) people with a learning disability appearing in the national and regional media.
Assessing the social and financial impact
In terms of the social impact, we are assessing the impact of the bond on people who move using a progression tool based on Mencap’s “What Matters to Me” framework. This is enabling us to assess and report on the difference the move has made to people in terms of their quality of life and independence.
We are also surveying the families of the people who move into the bond properties to assess the impact of the move on them. And we will also be reporting on the financial impact on the public purse. All bondholders will receive a regular report on the social impact of their investment as well as the financial performance.
We’re looking at whether we can do a further bond issue in 2014 – watch this space!
You can read about some of the real life stories of people living in their new homes bought with bond capital.
Golden Lane Housing bond wins Charity Times Award
In October 2013 Golden Lane Housing was proud to be awarded the Social Investment Initiative of the Year for our charity bond. This momentous evening was celebrated with tenants Daymien and Stephen (who have moved into a property bought using bond money) and their Mothers, Royal Society Mencap and Triodos Bank NV.
Buying GLH bonds on the Secondary Market
You may be able to buy GLH bonds on the Secondary Market, providing that bondholders who wish to sell can be found. Ethex, a specialist not-for-profit set up to make ethical investment easy to understand and easy to do, is running the secondary market for Golden Lane Housing. Through Ethex, Bonds can be bought and sold on a matched bargain basis whereby registered sellers are matched with registered buyers. The nature of the match bargain market means that bonds may vary in value, subject to the price that sellers and buyers agreed to sell and buy at.
Register your interest in future bonds
If you have been unable to invest under the First or Second Offer, please register your interest by contacting Huw Thomas at Triodos on 0117 980 9593 or GLH@triodos.co.uk. Triodos will then contact you with details of how you may be able to buy bonds in future bond issues.