Housing provider builds with £75 million loan

A social housing provider has secured £75 million backing to boost future work.

Stonewater has agreed a Royal Bank of Scotland loan.

Bosses say the ten-year agreement will “support the delivery of its 2030 corporate plan and development pipeline”.

Stonewater owns and manages 40,000 homes across the country, with developments including a project to transform an ex-coach depot on Worcester's Bath Road into a 79-affordable home scheme.

Anne Costain, Stonewater chief financial officer, said: “This additional funding will be integral to our work in delivering our 2030 corporate plan and building safe and warm homes for customers to enjoy for years to come.”

John Horton, NatWest Real Estate Finance relationship director, added: “We are delighted to support Stonewater with funding, which will enable it to move forward with exciting growth plans.”

Stonewater was advised by Savills Financial Consultants and Devonshires.

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