Salix Homes secures £120m refinancing deal
The Salford housing association has agreed the funding facility with NatWest in order to deliver the ambitions set out in its business plan.
Salix Homes will use the £120m refinancing deal to build more affordable and sustainable homes across the city to add to its existing portfolio of more than 8,000 properties.
Sue Sutton, chief executive at Salix Homes, said: “This refinancing deal with NatWest marks another major milestone for Salix Homes, and will enable us to continue with our ambitious plans to deliver much-needed, new, and affordable housing, as well as invest in our existing homes and communities.”
Since 2015, the company has invested more than £210m in homes and communities across Salford and built more than 290 homes, with another 250 under construction.
Current new-build developments being delivered by Salix Homes include the Greenhaus apartment block on Chapel Street, which is a 96-home affordable housing development being built to Passivhaus standards. This scheme has also been funded by NatWest.
Sutton said: “We will soon be launching our next corporate plan setting out our key priorities for the future, which aims to take us back to our roots and refocus on our core values to provide good quality homes and services to our customers, as well as build 100 new and affordable homes every year.
“Sustainability is a key focus, and we’re committed to building greener homes and neighbourhoods, while ensuring we continue to be well-governed and financially viable.”
The refinancing exercise has been supported by NatWest and Savills Financial Consultants.
Martin Skinner, director of housing finance at NatWest, said: “Like Salix Homes, NatWest is dedicated to supporting our customers and communities and it is fantastic to be able to support the organisation with a new finance package that will help create new homes in Salford.”
Alex Morgan, director at Savills Financial Consultants, added: “We are proud to have supported Salix Homes through this significant transaction that has navigated both market volatility and sector-specific challenges.
“The outcome materially reduces treasury risk, whilst releasing capacity to allow the organisation to expand investment into its communities.”
They need to get the basics right first. Their service as a landlord is dreadful. Customer service non existent and attitude to tenants is disgraceful.
By Anonymous
Although no company is perfect Salix has done a brilliant job over Covid and then like most companies having to find what the new way of operating in 2023 and beyond is and I’ve read a lot other landlords are lot worse!
By Customer