Grosvenor has launched a social enterprise that will provide up to 750 homes for the young and vulnerable.
Grosvenor Hart Homes will provide affordable and secure homes to vulnerable children and young people, along with their families, while also providing jobs and routes into employment as well as mental heath support.
The Duke of Westminster’s property company has completed a first tranche of refurbished homes and a dedicated community facility in Chester city centre, in partnership with Cheshire West and Cheshire Council.
The launch is the culmination of a three-year development programme during which Grosvenor underwent a comprehensive planning exercise, in-depth research and consultation with experts in the field.
Grosvenor said its ambition was to develop “a self-sustaining, scalable model” which would be based “on profit sufficiency, not profit maximisation”.
It added that it would judge its success based on the number of people and families that were helped, not the amount of money that was made.
The Duke of Westminster said: “We passionately believe that the provision of high-quality, safe, secure and affordable homes must be paired with outcome-driven support services. Our unique model stresses the need to tailor and meticulously plan, prioritise and co-ordinate services through a trusted and knowledgeable family support professional working alongside families to help them achieve their goals. Working in this relational way means we stand a much better chance of breaking the cycle of disadvantage and empowering children and young people to achieve their potential and thrive.”
Subject to the Chester pilot being a success, Grosvenor plans to provide more than 750 homes over the next 10 years, focusing on Chester and the north-west of England, as well as central London.
Grosvenor Hart Homes chief executive Helen Keenan will lead a newly formed board, chaired by former Grosvenor executive director Peter Vernon.
Keenan said: “Many vulnerable children, young people, and their families are caught in a spiral of temporary and often unfit accommodation, facing what can be a maze of poorly co-ordinated support services.
“Grosvenor Hart Homes draws on the support, expertise, and financial strength of the wider Grosvenor organisation whilst creating a bespoke social enterprise model that prioritises community benefit but also delivers a self-sustaining level of commercial return sufficient to support a scalable, impact-focused operation.”
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