{"id":55289,"date":"2019-04-09T12:46:19","date_gmt":"2019-04-09T11:46:19","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=55289"},"modified":"2019-04-09T12:46:19","modified_gmt":"2019-04-09T11:46:19","slug":"additional-homes-greater-manchester","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/additional-homes-greater-manchester\/55289\/","title":{"rendered":"\u00a3100m deal to deliver 785 additional homes in Greater Manchester"},"content":{"rendered":"

Savills Financial Consultants<\/a> has supported Bolton at Home<\/a> to secure a \u00a3100m funding deal, enabling the construction of 785 additional homes across Greater Manchester<\/h2>\n

The housing provider has secured \u00a345m in new funding from the Royal Bank of Scotland<\/a>, in addition to its existing \u00a355m loan facility.<\/p>\n

The new agreement includes funder consent for Arcon Housing Group<\/a> to join the Bolton at Home group and removes some historic loan covenants linked to the stock transfer from Bolton Council in 2011.<\/p>\n

The additional \u00a345m funding, along with the existing agreement, will finance the construction of 785 extra homes over the next three years, taking Bolton at Home\u2019s total to 960 homes.<\/p>\n

Edward Mellor, executive director of finance at Bolton at Home said: \u201cI am delighted to announce that we have secured this additional funding. This deal will be a significant boost to our ambition to build much-needed affordable homes in the Greater Manchester<\/a> area.<\/p>\n

\u201cWe\u2019d already been working closely with Arcon as part of the Greater Manchester Housing Providers group. It has knowledge and skills that complement our own, including a wealth of development expertise. This will be invaluable to our joint ambitions to build the affordable homes the region so urgently needs.\u201d<\/p>\n

Mike Roche, director at Savills Financial Consultants, added: \u201cSavills Financial Consultants is delighted to have supported Bolton at Home throughout this process.<\/p>\n

\u201cThe new funding package and necessary permission to allow Arcon to join the Bolton at Home group will allow the association to fully use its financial clout to deliver its growth strategy and deliver hundreds more affordable homes<\/a>.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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