The National Housing Bank has announced three major funding deals that will deliver around 2,500 new homes across England.
The agreements from Homes England’s newly formed bank total £35million and will fund regenerations plans in Salford, Bromley and Ludlow.
In Salford, a £14million infrastructure loan to joint venture partners, Scarborough Group and Metro Holdings, will fund site preparation, enabling and design works, paving the way for the delivery of up to 1,900 homes on brownfield land at Middlewood Locks.
In Bromley, a £10million infrastructure loan to Tikehau Capital will support the redevelopment of Walnuts Shopping Centre, including the creation of 440 homes, a key regeneration project for Orpington town centre.
In Ludlow, an £11million development finance loan to the SME housebuilder, Pickstock Homes, will support the third phase of scheme development and the creation of nearly 90 homes. Homes England has previously supported Pickstock to build 140 new family homes in phases one and two of the scheme.
Simon Century, chief executive officer of the National Housing Bank, said: “These deals demonstrate the breadth and diversity of the National Housing Bank’s offer and underline our appetite to work with investors, developers, home builders and places across the country.”
“The speed of our work, as underlined by these deals in particular, is evidence that we will take effective, purpose-driven decisions quickly and proactively, acting as an enabler, not a barrier, to the market as we continue our work to deliver homes and regeneration across the country.”
