Kent-based landlord secures £30m loan from AHGS for 120 new homes

The AHGS was launched in 2020 and reopened in March 2024 with an extra £3bn. It offers lower-cost fixed-rate loans of up to 30 years to registered providers to build affordable housing.

Investment manager Venn runs the scheme on behalf of the UK government.

Oriane Auzanneau, deputy portfolio manager for the AHGS and managing director at Venn, said: “We are delighted to be able to support West Kent with the delivery of their affordable development pipeline, bringing over 120 much-needed new affordable homes to its local communities.

“Recognising that shared ownership is an important affordable housing tenure in West Kent’s asset base, we were also pleased to be able to accommodate an increase in the allowance for this tenure in the collateral pool of up to 35%, to deliver a tailored solution for the organisation.”

Maria Organ, executive director of finance at West Kent, said the landlord wants to provide more new homes across Kent and have “greater flexibility to invest in our current homes and communities”.

“The new agreement plays a key part of that strategic ambition to develop new homes and invest in or regenerate existing properties for the sustainable needs of our current and future residents,” she added.

The deal was supported by Savills, Anthony Collins, and Capsticks.  

In December, Nottingham Community Housing Association also secured a £100m loan from the AHGS.

The 10,500-home landlord explained at the time that it will use the funds to help build 450 new properties for social rent, affordable rent and shared ownership.