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Venturesome team


Charities Aid Foundation



18 January 2016

Cornwall CLT (CCLT) is an innovative not-for-profit organisation that develops affordable homes in underserved areas and provides advice to other local groups to do the same. Established in 2006, Cornwall CLT is one of the oldest and most successful community land trusts (CLTs) in the UK. CCLT develops affordable homes, mainly for sale and some for rent, tailored to the needs of local communities across Cornwall.

In November 2015, CAF Venturesome, through its CLT Social Investment Fund (CLT Fund), supported Cornwall CLT with the first tranche of funding, towards the development of affordable homes in St. Teath, Cornwall. CAF Venturesome provided a £374,000 social investment, and worked alongside CAF Bank who provided a loan of £570,000. To help make the capital raising process easier for CCLT, CAF Venturesome and CAF Bank conducted the due diligence process in tandem, saving the client time and resources.

Cornwall CLT in St. Teath

Cornwall CLT will use this funding to cover the development costs of eight affordable homes. The loan will be repaid through the sale of the homes to approved individuals who fit the affordability criteria. The build is progressing well with roofs already up on most of the homes. Given the acute affordable housing shortage, the homes at St. Teath were already sold before they were completed. Recognising that the affordable housing shortage is not expected to subside anytime soon, CCLT has ambitious plans to continue developing affordable homes in the region and support other CLTs across Cornwall and the Isles of Scilly in doing the same.

By supporting Cornwall CLT, CAF Venturesome has enabled the organisation to house eight families in affordable homes. This reinforces CCLT’s track record as an experienced CLT, which will help build its capabilities to create a more robust organisation and greater social impact. We also believe that the social outcomes and expected positive financial return merit the financial risk. CAF Venturesome has a key role to play in supporting the CLT sector. To date, through our two CLT Social Investment Funds, we have provided 44 facilities to community land trusts that collectively aim to develop a total of 380 affordable homes.

This is CAF Venturesome’s sixth loan to Cornwall CLT, which we have supported since 2008 when the CLT sector in the UK was in its infancy. The organisation is one of the most successful CLTs in the UK. It has made a significant impact in Cornwall supporting the development of affordable homes and by providing development agency services to local housing associations.

“With the help of the financing from CAF [part loan from CAF Bank and part social investment from CAF Venturesome], Cornwall CLT is able to provide much needed affordable homes for the community of St Teath. All of the homes were reserved by local families before construction began which we feel is testament to the great need for homes and the quality of home we are providing. These homes will remain affordable to the community forever with Cornwall CLT being the long term steward of the homes for many generations to come.”

Helen Downing, Development Manager, Cornwall CLT


Community Land Trusts

CLTs are not-for-profit, community-owned, and community-managed organisations run mostly by volunteers and committed to the stewardship and affordability of land, housing and other buildings used for community benefit. CLTs are often used to provide affordable housing aimed to meet local housing needs through keeping an equity share to ensure the property remains affordable into perpetuity. CLT are important enablers of quality and affordable intermediate housing for communities. Because they are mostly structured as community organisation, they are familiar with the community’s needs but also much more nimble than larger developers or housing associations.

CAF Venturesome

CAF Venturesome is the social investment arm of Charities Aid Foundation, and one of the most active players in the UK social investment market.  Since 2002, we have supported over 470 charities and social enterprises with £38m of affordable finance. We manage two dedicated CLT social investment funds, supporting community land trusts to flourish.

CAF Bank

CAF Bank is owned by a charity and lends to charitable organisations. CAF Bank can help bridge a funding gap, provide capital to make major plans a reality, or simply support your cash flow so you can focus on what’s important: your mission.

Want to know more about CAF Venturesome? 

Talk to our team on 03000 123 300 or email us at and we’ll be happy to help.