A £130m finance package has been agreed by GCH with Natwest, which includes £30m in new funding.
The deal significantly extends the level of commitment from NatWest, in terms of both loan maturity and funding amount, extending £100m in existing loans for 10 years. The additional £30m commitment will allow GCH to continue delivering important investment in existing and new homes.
GCH will spend £19m on energy efficiency improvements to ensure all homes are at least EPC C by 2030 and invest a further £60m to deliver almost 400 new homes – including 150 through the regeneration of some existing estates – to help tackle housing need in Gloucester.
“In a time when the sector is facing so many challenges in tackling the housing crisis, GCH is delighted to have completed a new funding arrangement with our existing funders at NatWest and we look forward to building on our already strong relationship with them. The new arrangement will enable us to continue to invest in communities across Gloucester, improve the energy efficiency of many of our homes, deliver regeneration in our communities and build much-needed new homes. The team at NatWest, along with those at Savills Financial Consultants and Anthony Collins Solicitors, have worked with us to create a deal that allows us to build on our success and also create certainty on cost for a significant amount of our funding.”
Anne Southern
Executive Director of Business Resources at GCH