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Canopy Housing is adding five new properties to its portfolio following a seven figure loan.
Chloe Shakesby

Leeds housing organisation acquires five new properties following seven figure loan

A Leeds social housing organisation has announced that it is adding five new properties to its portfolio following a seven figure loan.

Canopy Housing, which currently owns 74 properties, has received the funding package from Unity Trust Bank.

The new properties are part of the company’s plan to purchase fifteen new residency homes over the next three years.

Michael Wicks, relationship manager at Unity Trust Bank, commented: “Leeds City Council reported a 367 per cent rise in the number of rough sleepers in the city from 2010 - 2017, highlighting the increased importance of the valuable work being undertaken by charities such as Canopy Housing.

“The funding to aid this new phase of development is a representation of the commitment Unity Trust Bank has made to supporting businesses which improve the quality of life of individuals and communities.

“Canopy Housing’s own values are strongly aligned with our ethos of helping to create a better society, and we look forward to continuing our work to build upon what I am sure will be a long and meaningful relationship.”

David Nugent, director of Canopy Housing since 2017, added: “The support from Unity Trust Bank will have a positive impact on our ongoing growth, helping us to continue to change the lives of vulnerable people.

“As well as the financial backing from Unity Trust Bank, we have appreciated the wider business advice and support received throughout the process from Michael Wicks, our relationship manager at Unity.

“Thanks to this loan, we’ve been able to accelerate significantly our housing development programme, increase our staff and activities in the Leeds area, and positively engage as well as support more local people into training and jobs.

“We now have a solid source of external funding which will help us over the next three years, to develop social housing properties in the Harehills, Richmond Hill and Burmantofts area of Leeds.

“In the longer-term, we would also like to identify and acquire a bigger office building in Harehills, which will help us further focus our efforts in and around Leeds.”

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