This loan is from SASC’s Social and Sustainable Housing Fund II (SASH II) and follows SASC’s initial SASH I loan of £1.65m to PSP in 2020. It will allow PSP to purchase 15 properties across Dundee, 13 one-bedroom flats and 2 two-bedroom flats, to meet demand for accommodation for 17 vulnerable adults to live independently.

The first loan enabled PSP to move into property ownership for the first time and purchase 30 one-bedroomed flats across the city.

PSP’s mission is to help vulnerable adults who face a range of potential barriers to sustain independent living. This includes people who are impacted by substance abuse, mental health issues, learning difficulties, offending behaviour, institutionalised living or homelessness.

The charity has helped more than 190,000 people over the past 35 years. In 2023 their Housing Support service supported almost 300 individuals to maintain their tenancies and reduce the risk of homelessness, and almost 50 individuals were able to move to independent living.

Derek Sharkey, CEO of Positive Steps Partnership, said: “Owning properties is a more sustainable way for us to meet the increasing demand for supported accommodation in Dundee. We work with some of the most vulnerable people in society to help them to take control of their lives. Many of them face multiple and entrenched disadvantages, but with our support they can overcome challenges and become independent citizens making a positive contribution to their communities.”

Mark Bickford, CEO of SASC, said: “Dundee has one of the worst incidences of intravenous drug deaths per capita in Europe and the loan will be central to PSP supporting more people with substance addictions, as well as ex-prisoners and other vulnerable adults and helping them to progress to healthy, independent living. It will also enable PSP to further expand its owned property portfolio and be less reliant on council properties and private landlords.”

SASH II launched in November 2022 and is the follow-on fund to SASH which launched in May 2019 and successfully raised and allocated £64.5m to frontline charities. The fund supports charitable organisations that deliver a combination of support and housing to move from renting existing housing stock to owning it.