Fund guys to be withThu 14 Dec 2017
Introducing our good friends at Bridges Fund Management…
We’ve enjoyed working closely with Bridges Fund Management. We think you should get to know them too. We spoke to Partner and Head of Property Funds, Simon Ringer.
What’s special about Bridges?
Bridges is a specialist sustainable and impact investor. We invest in properties and property-backed businesses where we can generate attractive financial returns alongside positive societal benefits. By backing several of HUB's projects, we are using our investors’ capital to support the construction of over 1,200 homes in less affluent areas of London where there remains a fundamental shortage of housing, particularly for lower-income groups. These developments include community facilities that benefit the local area and incorporate environmental features to reduce carbon emissions.
When did Bridges start working with HUB?
We were first introduced to HUB about five years ago by one of our investors. From our original discussions, it was quickly apparent that we shared a similar ethos about the potential social and environmental impact we could have by developing lower-cost housing – and unlike some developers, HUB realise that this could actually magnify the commercial opportunity, not detract from it. In its design and implementation of developments, HUB applies an attention to detail that ensures projects are delivered to time and budget, ensuring we can deliver both societal impact and strong financial returns.
Your HUB highlights?
Our use of cross-laminated timber at The Boiler House in Hayes is a great example of how our partnership approach is driving both impact and commercial value. CLT is much more energy-efficient than traditional materials, to the extent that the building will be carbon-neutral for its first 30 years of operation – plus it saves time and money in the construction process and ultimately reduces energy bills for the owner/tenant. The HUB team worked very closely with our specialist impact team at every stage of this process and we’re really excited about the results – both in Hayes and, potentially, on other projects.
How do you see the future relationship between HUB and Bridges?
Our relationship with HUB has been fruitful so far – hopefully for both sides! So we would hope to look at more lower-cost housing developments along the lines of the four we’ve done to date should the opportunity arise. In fact, we will shortly be signing another transaction that will provide a further 250 lower-cost housing units for Londoners. In addition, we are already exploring opportunities within the co-living space where there is excellent potential to deliver high quality residential accommodation for those seeking shorter term housing – particularly the younger generation, for whom securing a position on the housing ladder is becoming increasingly difficult.
Where else do you invest?
Investing in property is just one of the ways we employ our investors’ capital to make a difference. We also invest in ambitious growth businesses, help mission-led enterprises to scale, and support social sector organisations to deliver Government outcomes contracts. We want to show that investing to create positive social and environmental impact is actually a powerful way to drive better performance and long-term value.