Royal Bank of Scotland funding to boost Caledonia's affordable housing build programme
Date Posted: 31st of May 2021
In May we signed a £30 million funding package with Royal Bank of Scotland to finance the 600 new affordable homes we have committed to build as part of our 5 year business plan.
The Royal Bank of Scotland funding has been earmarked to support our multi million pound regneration in Bellsmyre, West Dunbartonshire as well as prospective new developments across Dundee, Perth, Angus and the Highlands.
Leigh Grubb, director of finance & governance at Caledonia Housing Association, said: “Caledonia Housing Association’s strategy is focused on providing homes and services that make life better for people throughout Scotland. The funding from Royal Bank of Scotland gives us greater financial flexibility to deliver an ambitious programme to build more affordable homes and much needed regeneration for communities.”
Last year, NatWest Group - which Royal Bank of Scotland is a part of - announced that it will be investing £3 billion in social housing across the UK over the next three years. The sum will be used to support the construction of 20,000 homes.
Alan Newlands, Relationship Director at Royal Bank of Scotland, said: “Working with Leigh and the team to provide a flexible financial package has been incredibly rewarding as they press ahead with the delivery of much-needed homes across Scotland.
“This transaction strengthens our relationship with Caledonia Housing Association and we’re looking forward to helping them to continue delivering positive change with their sustainable agenda.”