In 1975, the Central Young Men’s Christian Housing Association (YMCA) registered and undertook a mixed-use development project, the St Giles Hotel, in Bloomsbury. This project, completed in the mid-1980s, was funded through a combination of capital grants from the London Borough of Camden, support from the Housing Corporation, and commercial loans. The initial concept was that profits from the hotel operations would cover the loan repayments and offset the deficits from running the hostel accommodation.
However, by the late 1980s, the project faced financial challenges. Property values declined, and hotel revenues proved insufficient to subsidize the hostel. Consequently, the organization was thought to be unable to meet its financial liabilities.
In response, it was agreed with the Housing Corporation that the properties would be sold. To facilitate this, a new board was appointed, bringing in professionals from both the property and housing association sectors. By 1993, the transition was nearly complete: a new board was in place, grants from the London Borough of Camden had been repaid, and £7.5 million remained on deposit. This sum enabled the establishment of the London Housing Foundation (LHF) as an independent grant-giving charity.
In June 1993, LHF founded a subsidiary, Bramah House Ltd., to purchase and refurbish an office block to accommodate various homelessness agencies in need of permanent space. This property remained an LHF asset until 2002, when a fire destroyed most of the building. The agencies were relocated, and the rebuilt property was sold, generating net proceeds of approximately £7 million. By 2009, LHF’s available funds had grown to nearly £14 million.
Since then, the capital has been strategically invested, with the returns supporting the homelessness sector through grants, social loans, and initiatives like The Atlas leadership program, the Homelessness Agencies’ Awards, and various educational briefings. In the most recent fiscal year, total spending across these efforts reached approximately £800,000.