Supported housing provider secures £10m loan from NatWest

The funding will go towards supporting the provider to deliver a development target of 57 homes per year over the next nine years.

According to its annual report and financial results for 2023-24, the landlord provided new homes to 280 people, against a target of 250, during the year.

In the last financial year, it invested £8.2m in developing and adapting new properties, and secured and received £1.4m of NHS England grant funding to develop specialist supported housing.

John Verge, chief executive of Golden Lane Housing, said: “This is an important deal for Golden Lane Housing, as the funding we have received will allow us to continue to achieve our vision of providing the individuals we serve with access to good-quality housing that meets their needs.

“We want to empower people with a learning disability and autistic people to have authority over where and how they live, and the funding we have received from NatWest is crucial to achieving this.

“Continued expansion of our property portfolio across England, Wales and Northern Ireland means we can continue to provide access to bespoke housing solutions that are tailored to specific needs.”

Shaeen Azam, director of finance and resources at Golden Lane Housing, said: “This is an exciting time for Golden Lane Housing; securing £10m will enable us to achieve our growth ambitions.

“This deal enhances our ongoing relationship with NatWest, who were really supportive in working with us, and our treasury advisors Allia C&C, to secure the additional funds.”

In March, NatWest set out its ambition to provide £5bn of lending to UK housing associations over the next three calendar years.

Since then, it has agreed deals with several landlords, including  Incommunities, Stonewater, Bromford, Together Housing, Karbon Homes, Torus, Islington and Shoreditch Housing Association, Believe Housing, Westward Housing Group and Maryhill Housing Association.

Dharmesh Patel, regional relationship manager at NatWest, said: “As a leader in specialist housing provision, NatWest is thrilled to support Golden Lane Housing in its ambitions to acquire further properties and ultimately help more people across the UK.

“The team at Golden Lane Housing is dedicated to delivering a positive impact within communities and is proactive in its sustainability strategy.

“We look forward to seeing the continued good work from the business as they strive to support further individuals to live independent lives.”

Golden Lane Housing is currently rated G1/V2 by the Regulator of Social Housing.

According to its results for 2023-24, the landlord grew its pre-tax surplus from £805,000 in 2022-23, to £5.4m in the last financial year. This came after recording a £3.9m gain on the donation of housing properties following a stock transfer of 11 properties from Devon-based housing charity The Gordon Carling Foundation.