The National Housing Bank has announced loans totalling £35m to drive regeneration and housing plans across Salford, Bromley and Ludlow
The plans will see vital regeneration work carried out across the three areas, with around 2,500 new homes being built.
Simon Century, Chief Executive Officer, National Housing Bank, explained: “These deals demonstrate the breadth and diversity of the National Housing Bank’s offer and underline our appetite to work with investors, developers, homebuilders and places across the country.”
What will the regeneration and housing projects in each area entail?
The newly formed bank, a Homes England company, has agreed purpose-led loan deals to unlock regeneration and housing for communities in Salford, Bromley and Ludlow.
Here’s what will happen across the three areas:
Salford
In Salford, a £14m infrastructure loan to joint venture partners Scarborough Group and Metro Holdings will fund site preparation, enabling and design works, catalysing the delivery of up to 1,900 homes on brownfield land at Middlewood Locks.
Bromley
In Bromley, a £10m infrastructure loan to Tikehau Capital will support the redevelopment of Walnuts Shopping Centre, including the creation of 440 homes, a key regeneration project for Orpington town centre.
Ludlow
In Ludlow, an £11m development finance loan to the SME housebuilder Pickstock Homes will support the third phase of the scheme’s development and the creation of nearly 90 homes.
Homes England has previously supported Pickstock to build 140 new family homes in phases one and two of the scheme.
Enabling regeneration across the whole of England
Century concluded: “The speed of our work, as underlined by these deals in particular, is evidence that we will take effective, purpose-driven decisions quickly and proactively, acting as an enabler, not a barrier, to the market as we continue our work to deliver homes and regeneration across the country.”
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