£30m from Gloucestershire County Council's pension pot helps tackle housing crisis
Want to see an ethical investment actually changing the lives of hundreds of people? Look no further than Gloucestershire’s biggest employer's pension fund. It’s doing something remarkable.
Dear readers,
Welcome to Monday’s edition of The Raikes Journal. I hope you had a great weekend. If you watched the football on Sunday, and you were supporting England, it certainly ended on a high!
Today we run with an eclectic mix of tales, diary dates and news from around the county, and for the main story revisit a story we first reported on back in January.
It was certainly worth telling the tale back then - how millions of pounds from a local authority pension fund was to be invested instead in helping tackle the housing crisis (a challenge nationwide, not just in Gloucestershire).
But would it work? The firm behind the bold move came back to us with an update. We cover that off below.
Have a great week.
Best regards,
Andrew.
Andrew Merrell (editor).
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Briefing notes...
🏗️ 🏘️🏘️🏘️🏘️ A Gloucestershire local authority thought it had dealt with and shelved proposals for a new 4,000-home town back in 2022, but the controversial plans are rearing their head again. Forest of Dean District Council met recently to discuss how to allocate land for a total of 13,000 homes by 2043, voting to go out to consultation on how to meet the revised target. It looks like there is a very real possibility that a 4,000-home scheme could come back onto the agenda. More here.
👷♀️🎉 This new broke a few days ago, but we wanted to mentioned it nevertheless. Ofsted, the inspector of all things in education in the UK, has branded a Gloucestershire construction school ‘outstanding’. Forest of Dean-based AccXel is the school that is celebrating after hearing the result of its inspection in June this year. The Cinderford-based operation is sponsored by industry giant JCB, which is also one of the firms that trains its apprentices through AccXel's programmes.
👏🏼If you have a background in finance and are looking to give something back, as the phrase goes, one of Gloucestershire’s best-loved charities would like to hear from you. Gloucester Docks-headquartered Young Gloucestershire, which serves the whole of the county, is looking for a new trustee to join its board. We’ve written about the charity before on Raikes, and highlighted its commitment to helping the county’s young people from all walks of life get the very best start in life they can. More here.
Diary Dates...
Tuesday:
Fuel your business growth: Introduction to financial terminology. Chris Stevens, head of business support at Swindon and Wiltshire Business and Growth Unit, will lead on this session at The Growth Hub, Hub8, Cheltenham. More here.
Wednesday
The Breakfast Club Stroud - Monthly Networking. Today from 8am to 9.15am. Stroud Growth Hub, Stratford Road, Stroud. More here.
Thursday
Bitcoin & Beers. Nephos Group, in collaboration with its crypto advisory arm Myna, is inviting local business owners and curious individuals to explore the practical side of digital currency. See below for more details.
Friday
Are you a local business owner in Tewkesbury or the surrounding area looking to grow your network and generate more opportunities? Then TOP Club Tewkesbury is the perfect place to connect. From 7.30am to 9.15am at The Roses Theatre, Tewkesbury More here.
Coming up...
Bitcoin & Beers. Nephos Group, in collaboration with its crypto advisory arm Myna, is inviting local business owners and curious individuals to explore the practical side of digital currency at Bitcoin & Beers, a relaxed, educational evening aimed at demystifying Bitcoin and helping local communities understand what the future of payments could look like. “There’s a lot of hype around crypto, but not enough hands-on education,” said Joe David, founder of Nephos Group. “This event is about cutting through the noise and showing people, especially business owners, that using or accepting Bitcoin isn’t as complicated as it sounds.” Attendees will explore two key topics: Bitcoin in real life - How easy it really is to set up, invest and pay using Bitcoin and Crypto for local business - Why more businesses are starting to accept Bitcoin and how simple it is to get started. “Our goal is to create an approachable, educational environment,” added David. “Finance is changing fast, and we believe local business communities deserve a chance to get ahead of the curve, not be left behind.” Tickets are free but must be booked in advance. More here.
Must attend property seminar! The experienced team of property dispute lawyers at Willans LLP is due to host its third, free, in-person seminar (5 August 2025) for property professionals to provide further information on the Renters’ Rights Bill and other case law updates. The seminar is aimed at estate agents, property managers and professional portfolio landlords. Tickets are restricted to three per organisation. There will also be an opportunity to ask questions from the expert panel. More here.
New coffee spot opens on The Promenade in Cheltenham
If you were passing No. 131, Cheltenham's boutique hotel and bar, on Friday and thought you saw the hugely successful businesswoman Jade Holland Cooper serving coffees from a van parked near its entrance you were not mistaken. While many start their business journeys with food vans, and the ambition of eventually expanding to open their own bricks and mortar premises, Holland Cooper is having fun doing it in reverse. The founder of successful up-market British fashion label Holland Cooper is, of course, also co-owner of No.131, along with her husband, Superdry founder Julian Dunkerton. And her latest venture is a Holland Cooper and La Boulangerie Artisan-based ‘street food’ van in the style of the classic French Citroën H van, complete with a professional barista, Genaro Martinez, originally from Mexico. And she launched the new venture herself, even serving a few coffees!
“This is the first opportunity to showcase La Boulangerie and our offering right in the centre of town, and to do it in such an iconic location, on the promenade and overlooking the beautiful imperial gardens, makes it even more special,” said Raoul Dyevre, co-owner of the La Boulangerie Artisan. Expect to see the van at the likes of Badminton Horse Trials and The Game Fair too.
Business inspires school children with STEMazing partnership!
A major Gloucester-based business is thrilled by the success of its latest venture. Docks-headquartered business The P&M Group, which is involved in everything from building server rooms to colder stores on a giant scale, has been working with 30 children from Brockworth Primary Academy and Stemazing, an award-winning social enterprise that empowers women working in STEM fields. It aims to inspire primary school children through visible role models and interactive learning. Nikki Hughes, personal development lead at the city school, said the programme has been “fantastic” for the pupils. Stemazing's founder, Alexander Knight, said what P&M was doing was “the dream scenario”. “They are setting the standard for what meaningful, empowered outreach can look like – taking ownership, expanding impact, and tailoring the approach to their industry and values,” said Knight. More here.
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£30m from council's pension pot helps tackle housing crisis
Want to see an ethical investment actually changing the lives of hundreds of people? Look no further than Gloucestershire’s biggest employer's pension fund. It’s doing something remarkable.
As attractive as the idea of an ethical investment can be, it can sometimes seem a little distant, elusive even - the benefits intangible - good, but the benefits felt somewhere outside your own community.
Not in the case of a bold move afoot by the pension fund managed by probably Gloucestershire’s biggest employer, which has used £30 million from its pot to helping fight homelessness in the county - and still produce a return for pension holders.
We first reported on the proposal back in January (read it here) when the company behind the scheme, Resonance, together with partner charity partner Developing Health and Independence (DHI), said the adapted scheme would provide homes for potentially 750 individuals and families over the lifetime of the fund.
It was certainly worth reporting on, but was it just good PR from the B Corp business, which describes itself as “the UK’s leading social impact investors”?
We can't see into the future to the very end of the fund to see if it all comes true, but we do now know that the well-meaning project is bearing fruit.
The first local families have moved into newly refurbished homes - part of the first of a batch of 90.
Rosie Phillips, chief executive of DHI, said:
“Through our collaborative partnership with Resonance, local councils and building contractors, the fund has provided a tailored transition for families housed in temporary accommodation who are facing complex challenges.”
The 90 homes were purchased by Resonance, refurbished to a high standard and their energy efficiency improved, before being leased to DHI’s social letting agency Home Turf Lettings (HTL).
Families were actively engaged in viewing their homes with proximity to schools, transport, healthcare and community networks all considered.
Rahmat Baneshi and his family are one of the first tenants: “I love the house. It’s in a good location, close to the children’s school and everything we need. We were living in temporary accommodation before, so it’s very nice to have our own home.”
Chris Cullen, head of homelessness property funds at Resonance, said: “We’re delighted that tenants now have the keys, not only to a home but also to stability, security, support and peace of mind.
“The partnership between Gloucestershire Pension Fund, DHI and Resonance demonstrates how working together can make a real difference to people and communities.”
It is a small step, but brings some cheer for the city which earlier this month (July), was reeling from news its planning committe had refused a potential £45 million social housing development in Podsmead, despite having worked cloely with the council on the development.
It was a decision that lost the developer (social housing provider Gloucester City Homes) vital funding from Homes England and as a result saw it have to walk away from what was described as a “once in a lifetime opportunity” for a part of the city crying out for investment.
As of October 2024 there were an estimated 5,000-plus people on social housing waiting list in Gloucester.
In January when we first reported this Cullen told us “there are over 117,000 households living in temporary accommodation across England, including over 130,000 dependent children, and this number continues to rise”.
In 2022-23 (some of the most up to date figures we could find) it was estimated that 136,000 young people asked for help from their local councils nationwide because they were homeless or at risk of homelessness.
In the South West youth homelessness increased 11 per cent in 2022 to 2023 to 11,300. In Wales there was a decrease in youth homelessness of one per cent in the same period.
According to Centrepoint, the national charity that also works with homeless young people, the number of young people in the UK facing homelessness increased in 2022-23 by six per cent.