Peachcroft specialises in bringing private sector institutional funding to public sector and quasi-public sector projects. This includes all types and tenure of housing from social, affordable, co-living, retirement, extra care and private rented (PRS). Whilst the projects Peachcroft work on tend to be housing led they include as integral to the projects the social infrastructure necessary to support the housing, such as leisure, education and healthcare facilities in conjunction with the housing.
This is done primarily through the Community Trust Partnership (CTP) model which is a form of non-profit joint venture structure.
A recent Economist editorial points out the deskilling of the workforce in London and other major UK cities and, attributes this to the lack of suitable and affordable housing as the main reason. This is pushing skilled and key workers out of urban areas to the suburbs and in many cases to alternative cities altogether. To stop the exodus of skilled and key workers such as teachers, graduates, skilled IT professionals, trainees, apprentices, nurses and other healthcare professionals and public sector workers it is essential to find a new financial model to provide suitable and affordable housing. This is what the Community Trust Partnership model does.See it here
The Community Trust Model (CTP) ensures that local authorities retain control of any development or regeneration project. This allows the local authority to stipulate the type of development that would be most appropriate for their current and future needs.
This key benefit of the CTP model allows the public sector to retain control of the content and design of any housing or regeneration project, so enabling them to shape the project wholly to reflect local needs, whilst the private sector partner is responsible for the delivery of the project.
This approach allows for the social and community infrastructure to be an integral part of the design and delivery of the project.
The local authority or other public body is fully involved in the design and specification of any project from the outset based on their needs and requirements. Once a scheme and specification has been agreed upon, only then will the cost of the scheme be fixed. Once the cost has been fixed then the delivery of the scheme and the budget is the responsibility of the funding partner. This process removes the procurement, development, construction and delivery risk from the local authority or public body to the CTP funding partner.