Big Society Capital has invested £5m into a social impact investment targeting the purchase of about 240 Greater London properties that will be available for homeless people to rent.

The Real Lettings Property Fund, which launched last year, is the enterprise arm of homelessness charity Broadway.  It buys accommodation to support homeless people who do not qualify for social housing, but are ready and able to maintain a tenancy.

The City of London Corporation has also invested £500,000, alongside Big Society Capital into the fund.

Recently, Real Lettings Property Funds purchased a £250,000 home in Dollis Hill to house homeless people.