Newly merged A2 Housing Group has extended its loan facility with Nationwide and Britannia to £140m in order to fund 3000 new homes over the next three years.

The £10m increase means Nationwide is now providing £90m of funding and Britannia £50m.

A2 was formed by the merger of Airways Housing Group and Apex Housing Group, approved by the Housing Corporation in January (HT 28 January, page 13). The original £130m loan facility was secured by Apex in 2003, before the merger.

A2, which manages 12,000 homes in the South-east, aims to increase its stock to 15,000 units by 2008.

By 2010, it plans to have 16,500 homes under management.

Dominic Lynch, group finance director, said: “It’s a very exciting time for the group. With a projected growth of 25% in three years, A2 will be one of the top developing housing associations in the UK.”

A2’s catchment area stretches from Oxfordshire to south-west London and from Surrey to Buckinghamshire.

n Galliford Try has been awarded contracts worth £26m to build affordable housing in south London.

The developer has agreed a £16.5m deal with London & Quadrant Housing Trust to build 122 homes in Peckham. The project will create 68 homes for shared ownership and 54 units for affordable rent.

Galliford has also signed a £9.7m deal with Family Housing Association to build a health and community centre, and 39 affordable homes, in Stockwell, London.

Source

Housing Today