Plus Dane Housing Secures £30m funding from Principality Commercial

At Principality Commercial, we are dedicated to building possibilities within local communities. That's why we're pleased to support Northwest-based housing association, Plus Dane Housing, with £30m affordable housing funding. 

The agreement represents our second housing association deal in England, building on our growing presence in the affordable housing sector across England and Wales. The partnership marks Plus Dane Housing’s first funding deal with Principality Commercial, and reflects our shared commitment to supporting communities and increasing access to quality, affordable housing.

Plus Dane Housing owns and manages more than 13,500 homes and provides a range of services designed to help customers live comfortably in their homes and improve their quality of life. The organisation is committed to developing high quality, sustainable homes and improving the lives of local people through investment in housing and community initiatives. 

More about this partnership

The funding provided by Principality Commercial will support Plus Dane in its ambitions to deliver 730 affordable homes by 2027, and extend the programme to achieve 1,120 homes by 2030, whilst also helping to enhance the quality, sustainability, and long-term resilience of its existing properties. 

Jan Quarrington, Senior Portfolio Manager at Principality Commercial said:

"It is fantastic to become a new funder to Plus Dane where we have a shared value to support the delivery of more affordable homes and investment in existing homes. We are looking forward to working with the team at Plus Dane and developing a long lasting relationship with them."

Scott Owen, Head of Treasury at Plus Dane, said:

“In 2025, our Board set us the challenge of securing £100m of competitively priced funding and extending our debt maturity profile to support delivery of our Business Plan and provide financial stability through to 2027.

This new £30m, 25-year facility with Principality is an important milestone in meeting that objective. It strengthens our long-term funding position, provides certainty to support our future plans, and has been secured on terms that deliver strong value for money for Plus Dane and our customers.”