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South East landlord secures £60m to support development pipeline
This week, Hightown Housing Association secured £60m in funding from NatWest to support its ambition of building 1,000 new homes by 2022.
The Hemel Hempstead-based landlord said the package will be used to grow its existing portfolio of more than 7,000 properties, expanding the number of homes it offers for rent and increasing the availability of shared ownership in Hertfordshire, Bedfordshire and Buckinghamshire.
Hightown told Inside Housing that it could not share details of the transaction, including the rate at which the funds were borrowed.
David Bogle, chief executive of Hightown, said: “The support from NatWest means we can continue to tackle the housing and homelessness crisis by providing affordable homes together with a wide range of housing and support.
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“Our focus has been on delivery in line with our strong social purpose. We believe that by developing decent homes and supporting people to live with confidence, independence and choice, our work delivers a tangible positive impact for local communities.”
The funding forms part of NatWest’s commitment to spending £3bn on the social housing sector over the next three years.
Dharmesh Patel, associate director at NatWest, said: “At NatWest we are committed to supporting housing associations across the country.
“As one of the fastest growing housing association in the UK, Hightown Housing is providing essential, affordable homes for those most in need and the funding we have provided will help it meet its expansion target.”
