A £5.4 million supported housing scheme in Leith – one of the first private-sector backed developments of its kind in Scotland – has helped the value of an investor’s portfolio surge.
Triple Point Social Housing, a real estate investment trust which specialises in accommodation for adults with support needs, highlighted the completion of the development in conjunction with City of Edinburgh Council as one of its key achievements of 2019.
The West Bowling Green Street development has seen 24 new apartments created for people with physical disabilities or learning development challenges.
It was Triple Point’s first investment north of the border and helped take the value of its portfolio up to £503.8 million, compared with £343.7 million at the end of 2018.
Trust chairman Chris Phillips said it was well placed to benefit from increasing political pressure and social need to increase housing supply across the UK.
“The group's ability to provide forward funding for new developments not only enables the company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents as well as delivering returns to investors.”
