Wednesday, October 20, 2021
Real EstateUK

HHP secures £25m funding for Scottish housing projects

Scottish housing projects

The social landlord has also earmarked part of the funding to upgrade its existing portfolio of high-quality homes for more than 2200 tenants and their households

A charitable housing association has secured a £25 million funding package from Royal Bank of Scotland (RBS) to support its current and future operations in some of Scotland’s most remote communities.

Hebridean Housing Partnership (HHP) will use the funding package to deliver a significant new development and investment programme which is projected to total around £53 million and deliver in excess of 300 new homes across the Outer Hebrides. As of March 31, there were 170 houses under construction across 10 sites, with a further 34 houses either due to commence or at the tendering stage.

The social landlord, with offices in Stornoway and Balivanich, has also earmarked part of the funding to upgrade its existing portfolio of high-quality homes for more than 2200 tenants and their households. This will include the replacement and repair of roofs, bathrooms, kitchens, windows and heating systems, as well as importantly help to address levels of fuel poverty across the region, which are currently among the highest in the UK.

It provides services such as estate management and inspection, rent advice, allocations or mutual exchanges, planned maintenance, repairs, development programme and investment works.

Already, Hebridean Housing Partnership has replaced almost all solid fuel heating systems with air source heating and is making good progress on replacing storage systems.

Iain Macmillan, chair of HHP, said: Royal Bank of Scotland’s £25 million loan facility represents a major milestone for us and supports the continued growth of the organisation which has accelerated at pace since its formation in 2006.

He said: The funding puts us in a strong position to deliver new homes and continue to invest in our housing stock.

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