One Vision Housing seals £40m funding line
MERSEYSIDE social housing provider One Vision Housing, has secured a £40m, long-term refinancing deal, which will used to accelerate its plans to build new homes.
The Sefton-based landlord, which manages more than 11,700 homes, has agreed a deal with M&G Investments fora 30-year loan.
One Vision Housing intends to develop 500 quality homes over the next four years, and the funding means it can secure local development sites and access government funding opportunities to support the provision of quality affordable homes. The new homes will be a variety of affordable, social, market rent and housing for sale.
Roy Williams, chief executive of One Vision Housing said: “This funding places us on a secure financial footing and will ensure we are able to fulfil our immediate and long term ambitions to develop and maintain high quality affordable homes and create a lasting legacy in our communities.”
Development director Brendan Gleeson added: “We have already identified a number of development opportunities through local land acquisitions and Section 106 Agreements with national builders. Now that we have funding in place, we expect to announce news of our first developments in the very near future.”
One Vision says it will also continue to invest in renovating its existing stock. More than 30% of its £51m expenditure during 2013/14 was on investments in its homes, including new bathrooms and kitchens; and a further 19% was spent on routine and planned maintenance.
