Construction News

13/06/2013

Manor Estates Housing Association Secures Funding

Social housing provider Manor Estates Housing Association has secured a £7.5m finance deal with Santander Corporate & Commercial.

According to Scottish Housing News, the 10-year loan facility will provide funding for the development of two new mid-market sites for the Edinburgh-based firm.

The new finance will help the development of sites in Greendykes and Niddrie, adding to Manor Estates portfolio in the City of Edinburgh area.

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The Greendykes site is part of developer Persimmon's major new project at Greendykes Road, and will involve Manor Estates developing 49 one and two bedroom flats for social housing and Mid Market Rent.

The second project is based around the old school site, close to Niddrie Mains Road and the housing provider aims to construct a total of 39 units consisting of flats and houses, all for Mid Market Rent.

Lynn McDonald, Director of Manor Estates Housing Association, said: "We are delighted to have secured this next round of finance. There are currently over 20,000 people waiting for a suitable home in the City of Edinburgh Council region and this vital funding will enable us to continue to develop good quality affordable housing and help us reduce this housing need."

(JP/CD)

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