What do we do?

Simple Space develops genuinely affordable housing – our homes are built to rent in partnership with local authorities and other public sector bodies.  Our newly-conceived financing and development model provides desperately needed rental housing at a fraction of open market rental levels whilst generating capital and/or income receipts for the public sector.

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“Our cities are becoming polarised to the extent that they are in danger of losing their ability to function efficiently.

The people that make a city tick can no longer afford to live there, and we will all be the worse off for it. Simple Space has brought together a high profile team of experienced industry figures to address this problem.  Institutional investors have made £300m available to Simple Space to apply its newly-conceived development and financing model to bringing publicly-owned brownfield land into viable use.

The model ensures that the land is developed, key workers can rent homes at dramatically below-market rents, and the public sector retains both its land and receives a commercially competitive income.

Nick Way, Simple Space

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“The chronic shortage of affordable housing is one of the most pressing economic and social issues facing the UK. It gets worse every day, particularly in London and the south east. Our solution is ready to be delivered today and can make a real difference to people’s lives, for example by enabling key workers to live where they are desperately needed.

Nick Way, Simple Space

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Who benefits?

Current and future generations of city dwellers – Simple Space ensures that a legal covenant is applied to the land on which it develops its housing such that it will only ever be able to be used for this purpose, even after the housing we build reaches the end of its operational life.

The public sector – Our financing and development model enables the public sector to receive a commercially competitive income stream in perpetuity, at no cost to itself.  Every home we develop will ultimately be owned by the public sector and the short termist approach of selling land will no longer be necessary.  This allows land value uplifts that would otherwise reach the private sector to remain in the public realm forever.