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VWV Advises on Job Creation Project for Ex-Offenders

on Monday, 03 August 2015.

A social enterprise has been launched in Glasgow to build new homes in Scotland while helping current and former offenders turn their lives around and gain valuable skills.

The Together Group 750x450

The project is being undertaken by Glasgow Together CIC, which has been advised by VWV and Harper Macleod in Scotland. Triodos Bank provided corporate finance advice. It will see 40 affordable new homes built over five years, as well as 10-15 restorations of sub-standard properties completed.

The construction and renovation of these homes will be done with the help of 50 ex-offenders and up to 50 people serving custodial sentences in Glasgow's Barlinnie prison, giving them valuable work experience and helping them reduce the likelihood of reoffending on release.

The scheme is to be funded by a £1.65m social bond issue and a £350k institutional investor bond issue which were launched by Glasgow Together CIC.

Barry Mochan, CEO of Glasgow Together, said:

“I am delighted to be part of the Together expansion. Glasgow Together offers a unique social investment opportunity by giving ex-offenders the training, skills and employment they need to help turn their lives around, through a sustainable commercial business model that can pay investors a return on their capital.

"It has been a pleasure to work with Richard Hiscoke of VWV and their assistance has been invaluable throughout the Glasgow Together start up process."

Together Group founder, Paul Harrod, added:

"Thank you in particular for pulling all this together and leading us through a complicated and important process. It is much appreciated."

Social investment lawyer, Richard Hiscoke, who led the VWV team, commented:

"Having acted on the Bristol Together (award winning) and Midlands Together bond issues, we were delighted to work again with Paul Harrod in expanding the Together Group's inspiring ex-offender programme to Glasgow. In Barry, the group has found an impressive CEO who is very well placed to seize the substantial Glaswegian opportunities."