Cornerstone Partnership, Unity Trust Bank and Salvation Army
Accommodation for homeless people in Coventry
Cornerstone Partnership is a social enterprise which creates and delivers housing solutions to the third sector. One such solution was in collaboration with The Salvation Army to provide accommodation for homeless people in Coventry.
Cornerstone Partnership sought to purchase 17 properties across Coventry, which it would operate in partnership with The Salvation Army. To facilitate the house purchases, it approached Unity Trust Bank, a commercial bank that works with socially-minded organisations in the UK, for a loan.
A common goal
Unity Trust Bank agreed to provide a £1.1 million loan to Cornerstone Partnership, and they recommended contacting Anthony Collins Solicitors for support with purchasing the properties. Our common goal, alongside our extensive experience in property work within the social business and third sectors, meant we were perfectly placed to provide support for both Unity Trust Bank and Cornerstone Partnership on the acquisitions.
Following the purchases, Cornerstone Partnerships refurbished all the homes to strict quality standards and provided all of the furnishings, including cutlery and bedding. The transformed houses will provide safe and sustainable homes for homeless families across Coventry. With a national shortage of housing, particularly in inner-city areas, this partnership will make a real difference to those in need of emergency housing.On to the next case study