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West Country based impact investor, Bristol and Bath Regional Capital has purchased two co-living houses in Bristol after securing funding from Lloyds Bank.
As part of the deal, the multiple occupancy homes with shared resources are being specifically targeted at key workers as the cost of living crisis constricts consumer income. Key workers will be offered a 5%-20% discount on rental costs which include energy bills, water, internet, and cleaning alongside affordable rental packages.
Established in 2015, Bristol and Bath Regional Capital is a place-based impact investor with a focus on creating a diverse, local economy that generates lasting social and environmental value for the region. The property team strategically invests in housing that addresses systemic social challenges.
The co-living houses were purchased in January this year and are some of the first existing property purchases Bristol and Bath Regional Capital have made.
Richie Millier, Development Director at Bristol and Bath Regional Capital Homes said: “Securing our regional provision of affordable housing is just one of the ways we’re supporting our key workers when so many are feeling overwhelmed by the hike in energy costs and surging everyday expenses. The cost of living crisis has put consumers under huge pressure, so providing funding solutions to those affected heavily will generate inclusive and sustainable economic activity that facilitates regional recovery.
“With the help of Lloyds Bank, our key regional investments are creating economic, community and environmental resilience in response to the likes of the cost of living and energy crisis.”
Daniel Tregunna, relationship manager at Lloyds Bank, said: “The government's recent renters right to buy announcement shows the UK is taking a step in the right direction in supporting generation rent, but there’s more to be done.
“Bristol and Bath Regional Capital is widening the net of affordable housing provisions ensuring property values will not increase for UK key workers and we are excited to continue our support of their social impact agenda.”
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