The transformation of The Old Eight Bells in Mansfield was given a seal of approval during a recent visit to showcase the power of social impact investment.
Steve Yemm, MP for Mansfield, saw firsthand how the building now offers eight supported living apartments, created especially for people with autism or learning disabilities.
He received a guided tour from staff and residents and then met with representatives from social investment fund manager Resonance, United Response, and Better Society Capital to discuss how social impact investment has brought the historic building back into use and what it means for the local community.
“It was wonderful to visit The Old Eight Bells and see first-hand the incredible difference that social investment is making in Mansfield,” explained Steve Yemm, MP for Mansfield.
“The transformation of this historic building into supported homes for autistic people and those with learning disabilities is a brilliant example of what can be achieved when investors, charities, and housing providers – like United Response, Resonance and Better Society Capital – work together.
“Projects like this deliver a real, lasting impact for our community, and it was fantastic to meet the team and hear the brilliant choir perform.’’
The Old Eight Bells is one of Mansfield’s most iconic buildings, which previously has seen life as a community meeting space, a pub and, most recently, a nightclub.
Resonance led the development of the property, which had been empty since 2018, into eight supported living apartments, working in partnership with United Response to breathe new life into a building that plays an important role in supporting Mansfield District Council’s Church Street Rejuvenation plan.
Alongside the apartments, the building includes large community spaces, which offer a hub for groups such as the United Response Choir, a drama group, podcasting, disco nights and much more.
Daniel Brewer, Chief Executive Officer of Resonance, added his support: “There are over 2000 adults with learning disabilities and autism unnecessarily stuck in inappropriate accommodation – often hospitals.
“The Old Eight Bells is a great example of how social impact investment can breathe new life into empty buildings while creating safe, high-quality homes and support for people who need them most.
“We are proud to demonstrate the life-changing potential of social impact investment to support communities across the UK and we hope this was an enlightening experience for Steve and it has inspired him to champion the power of social investment.”
The Resonance Supported Homes Fund is a social impact investment property fund launched in July 2020 to provide much needed long-term homes for people with learning disabilities and autism.
The fund has raised £15.2milllion and has bought 35 properties across the UK, with the potential to house 70 people. They have been leased to the fund’s two housing partners, United Response and Golden Lane Housing, which provide specialist support to people with learning disabilities and autism.
Ali Gunn, Director of Engagement and Development at United Response, said: “Seeing the difference it has made to residents, like Jemma, Tom, Jessie and Will, highlights just how important these homes are.
“Initiatives like these give people with autism and learning disabilities the opportunity to have their own home, build friendships and be part of their local community. We hope to see many more projects like this supported across the country.”
Tessa Godley, Director of Policy at Better Society Capital, concluded:”Thank you to Steve for joining us and to the teams at Resonance and United Response for hosting.
“It is always powerful to be able to show politicians the real impact that social impact investment has on people’s lives, and The Old Eight Bells is a compelling example of what this market can achieve.
“Better Society Capital is committed to growing social impact investment across the UK, and visits like this are an important reminder of why that work matters.”