A social housing provider has received £35 million in medium-term funding to help deliver affordable housing across North and Mid Wales.
St Asaph-based ClwydAlyn Housing is a registered social landlord and manages more than 6,800 properties. The organisation employs 800 members of staff and provides housing management services across Gwynedd, Anglesey, Conwy, Denbighshire, Flintshire, Powys and Wrexham.
ClwydAlyn also plays a key role in supporting vulnerable people across North Wales through domestic abuse refuges, mental health services, homeless shelters, and care homes.
The organisation is delivering key projects, including the Well Street development in Buckley, Holyhead’s Cae Bothan site, and the regeneration project at Penrhos Polish Village in Gwynedd amounting to 244 homes all designed to provide essential affordable housing and strengthen local communities with an additional 207 on other sites across the region
The £35 million in funding supplied by Principality Commercial will help ClwydAlyn Housing reach its goal of delivering more than 1,100 new homes by 2030.
The new partnership with Principality Commercial, the commercial arm of Wales’ largest building society, will support ClwydAlyn Housing in exploring new build opportunities and help meet the growing demand for homes in the region.
Jan Quarrington, Senior Portfolio Manager, at Principality Building Society, said:
“As a Welsh lender, we are delighted to be supporting ClwydAlyn with funding to help them build more good quality, energy efficient homes across North Wales. We are excited to be working alongside an organisation with shared values of helping people live in a place they can call home and demonstrating our continued commitment to the affordable housing sector.”
Principality Commercial lends across England and Wales, providing finance for both investment and development schemes in the commercial and residential sectors, including supporting housing associations.
Sandy Murray, Executive Director of Resources at ClwydAlyn, said:
“ClwydAlyn has an ambitious development programme over the next five years as part of our commitment to tackling the housing shortage and providing high quality, energy efficient and affordable homes across North Wales.
“This work is a vital part of our mission to end poverty, and we’re thrilled to be introducing a Welsh lender into our portfolio who understands our vision and values. This investment will enable us to deliver our plans and create vibrant homes and communities across the region.”
ClwydAlyn were advised through the process by Savills Financial Consultants.
Alex Morgan, Director at Savills Financial Consultants said:
“This new, very flexible loan facility provided by Principality will help to support ClwydAlyn in the continuation of its impressive development programme. Introducing Principality to the debt portfolio, as such an important lender in Wales, is a fantastic outcome and promises to lead to a really productive relationship.”
