SASC Make Second Investment in Giroscope

Social and Sustainable Capital today announced a second investment in Giroscope.

SASC’s press release states:

“The second investment came in December 2017, alongside a grant from Power to Change which comprised 25% of the loan value, making it more affordable for the charity to take on the loan.

This investment has enabled Giroscope to purchase and renovate three further properties and to develop an exciting self-build project, which will see four houses being developed on a piece of land to the rear of its newly acquired property on Coltman Street.

The investment will provide homes for 18-20 additional people. Giroscope now provides housing for 264 people, which is a 20% increase since receiving the first investment from SASC.

Ben Rick, Managing Director of SASC said, “Giroscope does really important work in the heart of the west Hull community. Breathing new life into these empty houses and renting them affordably has not only given those most in need safe and high-quality homes to live in, but it has improved the community too.

In just two years since receiving the initial investment, the social impact Giroscope is having on the people in need within the local community is incredible. By creating secure homes, providing vital support and new opportunities for disadvantaged individuals, Giroscope is tangibly helping to improve the quality of their lives.” ”

We at Giroscope are proud to be partners with both SASC and Power to Change. For more information about SASC, click here.