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North Wales landlord targets 900 new homes with £40m loan
A landlord in North Wales has secured a £40m, five-year, sustainability-linked loan from a major bank to build more than 900 rental homes by 2025.
Adra Housing, a 7,000-home landlord, will use the funding from Lloyds Bank to build more homes and improve the energy efficiency of its existing portfolio.
Over the next five years, Adra aims to use the funding to ensure 90% of its new-build homes have the highest energy-efficiency rating (energy performance certificate band A) and retrofit more than 450 of its properties to improve their efficiency by a minimum of 8%.
It will also support more than 350 residents into employment through apprenticeships or work placements.
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Rhys Parry, director of resources at Adra Housing, said: “Delivering on the need for quality, affordable housing for North Wales residents in a sustainable way runs to the heart of what we do. It’s why we’ve set ambitious objectives over the past few years and chosen to work alongside Lloyds Bank, who share our commitment to creating a fairer, greener society.”
The sustainability-linked loan Adra has secured enables it to continue its pursuit of being net zero by 2030.
Christopher Yau, director of origination and sustainability for housing and head of the North West corporate banking team at Lloyds Bank, said: “Organisations like Adra don’t just provide housing, they create employment opportunities, improve peoples’ well-being and complement the broader sustainability objectives of their communities.
“We’re proud to welcome them as a banking partner and look forward to supporting them to achieve their ambitions over the next five years with this funding and the positive impact it will have in the local communities.”
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