Radius signs £50m loan deal

The new funding, which is said to be one of the largest packages agreed in Northern Ireland in recent years, will support the 33,000-home’s development pipeline up until 2020.

That pipeline includes up to 400 new homes on regeneration projects in Hope Street, Belfast and St Patrick’s Barracks, Ballymena. Radius will also deliver 244 homes on a £35m mixed-use development at the former Visteon site in Belfast.

Radius Housing chief executive John McLean said: “The funding we are announcing today will not only help tackle housing stress in areas of high demand but will also address employment and wellbeing needs, making communities more resilient in these challenging times.

“The Radius board is keen to see us maximise our positive impact throughout Northern Ireland. Our developments are supporting the local construction and building supply industry, protecting local jobs and creating apprenticeship opportunities.

“We intend to bring up to 300 permanent jobs to West Belfast through our Visteon project.

“We value our partnership with Barclays, whose working knowledge in this sector meant they have understood our vision for diverse and vibrant communities. With their expertise, we were able to agree this funding package within a very tight time-frame and can now focus on bringing our ambitious plans to life.”

Joanna McArdle, relationship director at Barclays Corporate Banking, added: “Barclays has a long history of supporting social housing in Northern Ireland and our clear commitment made us uniquely positioned to secure this landmark deal. It is one of the most significant in recent years, bringing a much-needed boost to two of our most vital sectors, construction and housing.”

Radius was formed in April 2017 through the merger of legacy landlords Fold and Helm Housing Association.