Acquisition of sites suitable for re-development of social housing. Identify opportunities within re-development sites to increase yield to add further value to the site. As a result of a more effective outcome, Sustain will use this activity to grow cash income and capital assets to increase the borrowing capacity of the business. Property will be retained by Sustain to facilitate an ongoing property portfolio designed to accommodate people in need of social and affordable housing.
Sustain has identified a site at 10, 12, 14 Francis Street, Colyton to develop six dwellings.
Sustain plans to build three duplexes (six dwellings), sell four dwellings to the private market and retain two to be tenanted for social housing eligible tenants. These properties will be managed, in partnership with Sustain, by a reputable registered community housing provider on a fee for service basis. The profit on the sale of the four dwellings to private market will fund future projects for social housing.