To remove the browser timestamp from the top of each page:
In the print dialog, click More settings
Uncheck Headers and footers
Click Save / Print
At 29k Asset Management, doing right by our investors and doing right by our communities are part of the same commitment. The portfolio we have built over time alongside our investors is anchored in long-term leases with housing associations and specialist care providers, creating contracted income with genuine social purpose. This statement documents the social contribution of our active portfolio as at May 2026.
Greater Manchester Halo Housing Association · Supported living for individuals with disabilities
Georgian corner terrace, acquired in distressed condition in 2017, refurbished and let in its entirety to a housing association since inception. The lease includes annual rent revision (CPI + 1%).
Greater Manchester Rochdale Boroughwide Housing Limited
Victorian mixed-use building on Long Street, converted into ten apartments and one commercial unit, with all residential apartments let to Rochdale Boroughwide Housing Limited since inception.
West Yorkshire Halo Housing Association · Supported living for individuals with disabilities
Italianate Victorian villa in Pudsey, sensitively converted into self-contained apartments and let on a 15-year housing association lease agreed prior to completion. The lease includes annual rent revision (CPI + 1%).
Lancashire Inicio Group · Children's social care & support
Former pub in Great Harwood, converted into seven self-contained apartments and let on an eight-year inflation-linked FRI (Full Repairing and Insuring) lease agreed prior to completion, income-producing from day one.
Greater Manchester Hillcrest Housing (2 units) · Housing association Northern Community Pathways (1 unit) · Young adults leaving care, aged 16–18
Former Victorian United Reformed Church, converted into ten apartments after a complex planning process, the most technically demanding conversion in the portfolio.
Late Victorian mixed-use corner building acquired in distressed condition in 2017 and converted into four residential apartments and two ground-floor commercial units.
0of 6 unitssocial
Wigan
WN3 postcode area
Pipeline · institutional
Greater Manchester Tenant profile not disclosed at this time
A portfolio acquisition in Lower Ince comprising a sensitively converted building circa 1880s of ten apartments and a purpose-built new build of three apartments, held on a single site. Pre-agreed with an institutional tenant ahead of completion.
13units
Certain holdings are structured through shareholder agreements where beneficial owners appear on the public register. For holdings structured on bare trust via the syndicate deed, the public record on the SPV reflects the Trustee rather than the underlying beneficial owners. Where investors have elected to maintain confidentiality, those holdings are excluded from this statement. All investments are made available exclusively on a private placement basis.
* Exposure calculated as each lessee's attributed social units as a share of 39 active social units. Wakefield (5 units) is currently vacant and excluded from the social unit count as at May 2026.
Next in pipeline
Wigan · WN3 Postcode Area
An off-market portfolio acquisition in Wigan comprising a sensitively converted building circa 1880s and a purpose-built new build, together providing 13 units under a pre-agreed institutional lease. Subject to completion, this will bring total social units to 57 across a portfolio of 71 units in total.
71
total units on completion
52 social
The supply gap
Why private capital matters
Funding cut · 2010
−63%
Government affordable housing grant reduced in a single Spending Review
New SAHP · 2026 to 2036
£39bn
Committed over 10 years, the largest programme in a generation
Annual need · LGA estimate
£10bn
Required per year to build 145,000 new social homes, a gap the £39bn SAHP alone cannot close
The Social and Affordable Homes Programme (SAHP), announced at the June 2025 Spending Review, represents the largest single government commitment to affordable housing in a generation. Yet at £3.9bn per year on average, it funds less than half of what local authorities estimate is needed annually. The structural shortfall that has built up over fifteen years cannot be closed by grant funding alone. Private capital, structured around long-term institutional leases, plays a necessary and complementary role in bridging that gap.
We partner with housing associations and specialist care providers. This creates durable, long-term occupancy and removes the volatility of retail tenancy management.
Long-term leases
Leases typically run five to ten years with renewal provisions. Tenants benefit from security of tenure. Investors benefit from predictable, contracted income. Commercial and social interests are aligned.
Active management
All properties are managed by qualified local professionals throughout the tenancy. Residents receive well-maintained, safe, and dignified accommodation, and investors receive transparent quarterly reporting.
Supported & social housing
A significant portion of our portfolio provides supported and social housing, including accommodation for vulnerable adults and individuals in care, in partnership with regulated housing associations and specialist providers.
