Golden Lane Housing’s new strategic relationship with Resonance’s Supported Homes Fund
December 18, 2023
As a leading provider of good quality homes for individuals with a learning disability and autistic people, Golden Lane Housing are continuing to drive the provision of much needed supported housing through a new strategic partnership with Resonance, a social impact property fund manager and its Supported Homes Fund. The relationship developed between the two organisations is part of Golden Lane Housing’s overall Development and Growth Strategy.
Abdul Latif, Director of Development and Growth said:
‘I am very pleased that Golden Lane Housing and the Resonance Supported Homes Fund have created this important strategic relationship. The need to house people with learning disabilities and autistic people is greater than ever and this partnership will allow us to address some of that need. The specialised supported housing sector has continued to evolve and providers need to show their rents are transparent and justifiable. This strategic relationship will contribute towards the positive journey for the sector. This opportunity demonstrates the need for investors and funds to work with good, compliant, and reputable housing providers to ensure sustainability of their investment and income streams.’
The supported housing sector has seen many challenges over recent years, in particular from the Regulator of Social Housing in respect of the long lease business model associated with high rents. As a trusted and experienced registered provider, Golden Lane Housing has taken a different approach which we are confident will provide good quality, secure and sustainable housing and address the concerns raised by the Regulator of Social Housing in their sector risk profile.
Crucially, the agreed lease allows both parties to react to changes in law that may affect the supported and social housing sector, and scenarios that may arise where the local authority commissioning team may have a strategy or a policy change. It also allows flexibility around rent reduction and rent caps, which are critical in the current uncertain economic times while importantly providing greater security of tenure to Golden Lane Housing’s tenants without both parties being tied down to a long lease.
The strategic partnership continues to allow Resonance’s Supported Homes Fund to invest in a vital sector with a Registered Provider that is compliant with the Regulator of Social Housing and has an established reputation of delivering good quality homes for the last 25 years.
John Verge, Chief Executive of Golden Lane Housing said
‘We are delighted to be working with Resonance and its Supported Homes Fund. Resonance has a long proven ability in the homelessness sector of sourcing properties that are suitable for tenants and long term operational partnerships with other housing associations. The work Golden Lane Housing and the fund will be carrying out together, will ensure it contributes to addressing the great need for supported housing for people with learning disabilities and autistic people.’
“People with learning disabilities and autism deserve to live their lives with independence, in a place of their own to call home. However, far too many are living in inappropriate housing for their needs meaning that often, they are also unable to live fulfilling lives and to reach their full potential. So, I am so pleased that this new partnership between Resonance’s Supported Homes Fund and expert supported housing provider, Golden Lane Housing, will see the fund purchase shared properties in Oxfordshire to provide decent and affordable supported housing for people with learning disabilities and autism in the region, that is right for their needs. This partnership will not only provide desperately needed long-term leases for properties that will give tenants security, stability and peace of mind so they can be a part of their local communities and live their lives how they choose but will also highlight the societal housing issue people with learning disabilities and autism are facing.”
John Williams, Managing Director of Resonance Property Funds