Valley House is charity in Coventry that works with victims of domestic violence and young parents. It was established in 1977 and has been providing supported housing for vulnerable people since then.
The services run by Valley House help people struggling with issues such as homelessness, depression, and unemployment to get their lives back together and become independent. Some of these services were run as part of a supporting housing contract for a local housing association. The housing association wanted to sell the houses and Valley House felt that the location was in an optimal part of town for their services.
SASC invested £2.5m in Valley House through Social and Sustainable Housing (SASH). As a result, Valley House will be able to purchase these properties from the housing association as well as a number of other properties in Coventry. The SASH loan is unique in that it allows organisations to scale in a low risk way, since it has the capacity to absorb uncertainty around voids, rents and house prices - risks that would normally sit with the borrower.
The SASH loan will enable Valley House to continue to offer supported housing units for vulnerable people in Coventry; the charity will purchase 13 of the properties that it is currently leasing, and will acquire a further nine residential properties. Valley House has excellent connections with local commissioners and this loan will strengthen their supported housing provision in the community.