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Real Lettings Property Fund Wins MIPIM
"Private Rented Sector of the Year Initiative 2015 

 

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Real Lettings Property Fund Shortlisted in PRS Initiative of the Year

 

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RESI Awards 2015
Winner Newcomer of the Year

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 MIPIM UK / Estates Gazette
Finalist:  PRS Initiative of the Year Award

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Local Government Chronicle Awards 2014
Shortlisted

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Cabinet Office Social Investment Awards 2014
Runner Up

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RLPF Honoured to receive a "Highly
Commended" Award at the Sustainable City Awards 2014.  Read more...

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Social Enterprise UK Awards 2013, HIghly Commended


Real Lettings Property Fund

The Real Lettings Property Fund is a residential property fund providing move-on accommodation for homeless individuals and families in London, whilst also delivering a commercial risk adjusted return.

Resonance has developed and manages the Real Lettings Property Fund in association with St.Mungo’s Broadway, a leading homelessness charity.

The Fund works closely with St.Mungo’s Broadway's Real Lettings operation, which offers affordable accommodation in the private rented sector.  Real Lettings assists formerly homeless people, or those at risk of homelessness, who cannot access social housing but are ready and able to maintain a tenancy.

The Fund buys 1 or 2 bedroom flats, refurbishes them as necessary and then leases them to Real Lettings which will guarantee rent and take on management and maintenance risk for a period of 5 years.  Real Lettings lets the flats to families and individuals who have been or are in danger of becoming homeless.

In late 2013, the Real Lettings Property Fund was honoured to receive a 'Highly Commended' award at the Social Enterprise Awards 2013 in the Social Investment Deal of the Year category and was also ‘Highly Commended’ at the Sustainable City Awards in early 2014.  It was also recognised again being a runner up in the Cabinet Office Social Investment Awards and shortlisted in the Local Government Chronicle Awards both in late 2014.  However, in 2015 it won the prestigeous RESI Award 2015 by Property Week, for the Private Rented Sector Initative.

The Fund achieved a first close of over £16m in February 2013 and closed in early 2015 at £56.8m.  Its current investors include a major housing association,  a number of endowed charitable foundations, a Local Authority and two High Net Worth individuals. Due to its regulated nature, investment in the Fund is only available to Certified Sophisticated Investors, High Value Trusts and High Net Worth Companies.

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