Plans for around 2,500 new homes and vital regeneration work
across three places in England have been boosted by National
Housing Bank agreements totalling £35 million.
The newly formed bank, a Homes England company, has agreed
purpose-led loan deals to unlock housing and regeneration for
communities in Salford, Bromley and Ludlow.
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In Salford, a £14 million infrastructure loan to joint
venture partners Scarborough Group and Metro
Holdings, will fund site preparation, enabling and
design works, catalysing the delivery
of up to 1,900 homes on brownfield
land at Middlewood Locks.
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In Bromley, a £10 million 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.
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In Ludlow, an £11 million 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, 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.
ENDS
About the National Housing Bank
The National Housing Bank, a Homes England company, is a
government-backed public finance institution providing
purpose-led finance to accelerate housing delivery and
regeneration across England.
Over the next decade, it will invest up to £16 billion through
debt, equity, and guarantee products, stepping in where the
market cannot, and aims to attract more than £50bn of private
capital to enable more homes, stronger places and thriving,
sustainable communities.
The bank offerspartners tailored and blended finance solutions
alongside the full range of Homes England support. Its
delegations and flexible approachmeansit can respond with agility
to shifting market conditions, ensuring investment reaches the
areas of greatest need.
Learn more: National Housing Bank -
GOV.UK
About Homes England
Homes England, the government's housing and regeneration agency,
exists to drive the creation of more affordable, quality homes
and thriving places so that everyone has a place to live and
grow.
It makes this happen by working in partnership with thousands of
organisations of all sizes, using its powers,expertise,
land,capitaland influence to bring investment to communities and
get more quality homes built.
Learn more:https://www.gov.uk/government/organisations/homes-england/about
