Target Housing, established in 1990, is a charity and social landlord that provides accommodation and support to vulnerable and homeless people across Yorkshire and the Humber, including those with complex needs, ex-offenders, asylum seekers and people with mental health problems. The organisation currently manages around 865 properties and owns 96 of them. Target’s strategy is to grow its owned property portfolio to gain flexibility, retain income, and use equity to expand further. The latest £2m investment from Social and Sustainable Capital will fund the purchase and refurbishment of 16 one- and two-bedroom properties in Barnsley and Doncaster to house and support beneficiaries. Previous SASC loans helped fund the purchase of 47 houses across Sheffield, Doncaster, Rotherham and Hull. Target plans to use ownership of properties to switch between projects and adapt services to meet rising housing demand from commissioners and other partners. Target Housing operates under contracts to place vulnerable people, including homeless people, ex-offenders and those with complex needs, in supported accommodation. The charity recently re-won contracts in Sheffield and Doncaster and seeks to own properties to improve outcomes and quality assurance for beneficiaries. It has taken its first social investment—£3m from Social and Sustainable Capital’s Social and Sustainable Housing (SASH) fund—to purchase a further 30 one- and two-bedroom properties. Target says the funding will allow it to buy better-quality houses more quickly, expand its portfolio in chosen areas and help secure its future amid reduced funding streams. Taking on social investment was a learning curve, but Target reports that SASC guided and supported them through the process. The deal is aligned with the charity’s aim to have greater control over the properties it uses to deliver services to vulnerable people.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2022