Lime Property Ventures success
Lime Property Ventures (LPV) Elim’s commercial subsidiary was formally launched in early 2016 with plans to re-develop Hathaway House, a former supported housing scheme in central Bristol, into student accommodation.
Lime Property Ventures officially started trading in September 2016 when students moved into Hathaway House and at the end of the financial year, after just seven months of trading, LPV is generating a profit. This was generated through a small number of open market property sales and the rental income from the student accommodation.
We are thrilled that this has allowed LPV to make a donation of £50,000 to Elim Housing Association at the end of the 2016/17 financial year.
This donation will be used to achieve the Elim Group’s vision, and will be invested in projects that will have a direct social impact in line with our charitable objectives.
We are confident that Lime Property Ventures will continue to generate profit for further investment as well as providing the group with the flexibility to take on a greater range of projects by providing the group with the means to consider both new opportunities and different ways of working.
This includes, in the year ahead, taking on large new-build developments in partnership with Elim Housing or other developers in addition to developing smaller plots of land already owned by the group.
We are excited about the opportunities that Lime Property Ventures first full year of trading will offer and the benefits this will have for the Elim Group.