Musicians got together on Saturday at JJ's Music Studio to record an updated version of the song to reflect the struggles of local homeless people.
Founder of mental health charity MenTalk Stephen Blair, aged 39, wanted to raise awareness and money for those who are struggling during the festive period.
He said: "We took about three and a half hours to record the song, which is good considering none of us are proper singers.
"We wanted to do something and the words of Do They Know It's Christmas are really relevant, so we changed a few of the them to reflect homelessness."
Stephen is also spending 48 hours on the streets to raise money for homeless and mental health charities.
He added: "When we started MenTalk it was just going to be for tradesmen who suffer mental health struggles but when we looked into it we realised it was the tip of the iceberg.
"Men really struggle with talking about their feelings, that three times men commit suicide than women in this country, shows something is wrong."
A download of the single will be available next week.