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Rene House Team

Rene House is a small social enterprise based in Nottingham, they provide supported accommodation for homeless and vulnerable adults and families. They currently manage a portfolio of 7 properties comprising of 18 units. Rene House aims to create a sustainable stepping-stone service for individuals and families that need support to get back on their feet.

Duration
5 years
Cost of capital
8%
Turnover
£87k
Amount invested
£60k
Product type
Secured loan

Challenge

Rene House is a small, relatively early stage organisation, which didn't have an in-house finance resource and so had difficulty producing financial forecasts and income projections Big Issue Invest needed to be comfortable with to approve an investment.

Solution

Big Issue Invest requested Impact Alchemy complete a review of the investment proposition, funded by £2k from the Reach grant programme, to assist with its due diligence process.

Revenue model

Rene House collaborates with local authorities, support service providers and the private rented sector to provide housing and support for vulnerable adults and families. Revenue is generated from rental income.

Impact

Rene House are seeking to create social impact by:

  • Reducing homelessness
  • Creating supported accommodation which enables vulnerable adults to sustain a tenancy
  • Providing training and employment services to help residents access new opportunities
  • Reduce local authority reliance on unsuitable rented accommodation
  • Reducing anti-social behaviour through tenancy support
  • Bring empty properties back into use

''The biggest thing for me is having a purpose. I want to prove that it's possible to have a successful business financially, but also one that does right by people and makes a difference to those who need it most.''

Tiffany Brierley, Managing Director

''I love coming to work every day knowing that we have created a service that can have such a big positive impact on people's lives.''

Theo Brown, Director