Birmingham Supported Living 2010 is using its loan to transform an old hotel into supported accommodation. Read more…
Vulnerable adults often want to live independently but may need some support, especially if they’re struggling with their mental health or a learning difficulty.
Birmingham Supported Living 2010 offers accommodation to adults with mental health challenges, learning difficulties or autism. Properties range from shared houses to larger homes with on-site care. CEO Ann Martin explains, “We’re providing a stepping stone to independent living. The people who come to us have often been in and out of hospital for several years. They’re now feeling more settled, but they still need some support with taking medication, budgeting, managing their home environment, going out into the community and so on.”
Birmingham Supported Living 2010 leases most of its properties but wanted more stability. So, when an old hotel came up for sale in the perfect location, the opportunity was too good to miss. Ann reached out to several lenders, but none would offer a loan without personal guarantees. Thankfully, Big Issue Invest and Charity Bank were happy to help. Together, we loaned the social enterprise the money it needed to buy the property.
The old hotel is now being refurbished. Once finished, it will provide 11 ensuite rooms, along with a communal dining room, living room, kitchen and laundry room. A member of staff will be on site 24/7 to keep residents safe and offer support when needed. While some residents may stay long-term, others will use the experience to boost their skills and confidence before moving to fully independent living.
Birmingham Supported Living 2010 is also benefiting from buying the property. The loan repayments are significantly lower than rental costs for comparable properties. And, as Ann explains, “Owning property will give us more stability and more control. We can now consider doing things that we've never before thought possible.”
“Charity Bank and Big Issue Invest were very supportive. There were no problems at all; they were both brilliant. It’s also nice to know that our repayments will be regenerated to help other non-profits.”Ann Martin, CEO of Birmingham Supported Living 2010
“I feel more independent now. I can wash, clean and cook. The staff here are really supportive.”Nathan, a Birmingham Supported Living 2010 resident
About Charity Bank
Charity Bank is the loans and savings bank owned by and committed to supporting the social sector. Since 2002, we have used our savers’ money to make more than 1,200 loans totalling over £450m to housing, education, social care, community and other social purpose organisations.
Nothing in this article constitutes an invitation to engage in investment activity nor is it advice or a recommendation and professional advice should be taken before any course of action is pursued.