Croydon Almshouses announces strategic sale of investment properties

Press release – March 2026

Rising demand, combined with a decline in available public resources, means charities such as Croydon Almshouses are under increasing pressure to ensure their assets are used as effectively as possible.

Throughout 2025, Croydon Almshouses undertook their Phase 1 Mid-Strategy Review, to assess the progress and impact of their 2024-2028 Do More; Do Better strategy.  They reviewed the charity’s assets and funds to ensure the charity continues to support the growing number of older people in Croydon, with increasingly complex needs. This included:

• Assessing the current and future housing needs of older people in Croydon, alongside the availability of suitable accommodation.
• Reviewing the performance and long-term potential of the charity’s residential and commercial investment properties, to determine which assets should be retained or released to maximise charitable impact.
• Reviewing the Investment Funds Strategy to ensure resources are maximised whilst being managed responsibly and sustainably.

As a result of the review, Croydon Almshouses has taken the decision to sell some of their investment properties, including residential properties on Helder Street. The assessment found that these properties no longer delivered a sufficient return on investment to justify their retention.  This determination was made in the context of the charity’s duty to set its long-term direction in accordance with its governing document and to ensure it operates effectively, with full compliance with all legal and regulatory requirements.

Croydon Almshouses recognises that this decision will have a direct impact on the tenants of Helder Street and does not underestimate the anxiety this may have caused. They have appointed reputable Estate Agency, Allen Heritage, to work as a partner with the charity to support existing tenants with the practicalities of their onward move.

In addition to the property sales, the charity has moved from a Standard Rules to a Total Returns approach to managing its endowed investments.  This approach is a significant and positive step in freeing up available funds to pursue charitable objectives whilst ensuring the charity’s long-term financial sustainability.

Hayley James, CEO of Croydon Almshouses, said:

“The Board and I diligently assessed the long-term investment value of our Helder Street properties, reflecting on our responsibility to ensure the charity’s assets are working as effectively as possible for our beneficiaries.

We are mindful, however, that these decisions have real-life consequences. Our priority is to treat tenants with compassion and respect, and we are committed to working closely with those affected to provide practical support during what we understand may be a difficult time.

The decision to sell some of our investment properties, along with adopting a new investment approach will enable us to continue balancing the needs of today’s beneficiaries with our responsibility to safeguard resources for the future.”