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Mencap celebrates final property bought with £10m bond

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Mencap celebrates final property bought with £10m bond

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Published by Max Salsbury for 24dash.com in Housing

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A social landlord has purchased its last property from a £10 million charity bond - the largest bond of its kind in the UK.

Golden Lane Housing - Mencap's housing service - invited guests to celebrate four tenants moving into the property.

GLH has now bought 27 properties with the bond funds.

Only 16% of people with a learning disability live in supported housing in the community and Mencap research has found 8 in 10 councils report a housing shortage for adults with a learning disability.

The bond issue was the first step in raising up to £30m over the next few years, which will in total allow investors to give 250 people with a learning disability the chance to live independently and take control of their own lives.

The new tenants moved in to their brand new five-bed property yesterday. The property has room for five tenants and one sleep-in support worker, with all rooms coming with en-suite bathrooms.

Buckinghamshire County Council provided support with the design of the accommodation, and it has entered into a nomination agreement to ensure that the service is fully occupied.

Alastair Graham, GLH's director, said: “We are delighted to welcome the new tenants of our final home purchased through the 2013 bond.

"Thanks to all the people who invested in the bond making this possible and to Buckinghamshire County Council. Also a massive thanks to the dedicated staff of GLH and Mencap and our contractors – the transformation is amazing, they have done a fantastic job. Most of all thanks to our tenants!”

Danny, one of the new tenants, said: “I will miss Lee Road but I think I am going to like it at my new house. My room is much bigger and I am glad I have my own en-suite and that I got to choose the colour – it’s yellow. The house is so big that I will be able to have my friends round. I was worried that my support staff would not support me anymore, but they are coming with me, so it is great!”

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