Housing provider's 25,000-home plan after £250 million boost

A social housing provider says it is poised to roll out a 25,000-plus property blueprint after securing £250 million funding.

Sovereign Network Group has received backing to deliver a raft of developments across London and the South East over the next decade.

Bosses say the support – delivered by NatWest – will “create better places to live and thriving communities”.

They add the funding will boost Sovereign Network Group’s existing portfolio, which includes more than 85,000 homes across London and the South, West and East of England.

Anup Dholakia, Sovereign Network Group director of treasury, said: “Building more genuinely affordable homes is vital to tackling the housing crisis, and this deal will help us progress our ambition to deliver 25,000 new homes over the course of this decade.”

Paul Eyre, NatWest’s head of residential and housing finance, added: “Sovereign Network Group is committed to providing good, affordable homes that are the foundation of thriving communities.

“This latest agreement will provide support as it moves forward with ambitious plans.”

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