Supporting affordable housing and regional growth in North Wales

At Principality Commercial, we are dedicated to building possibilities within local communities. That’s why we’re delighted to support North Wales’ largest housing association, Adra, with £20m affordable housing funding. The investment will support the organisation's development programme and their continued investment in its existing housing stock across the region.

Based in Caernarfon, Adra provides affordable homes and support services to communities across North Wales. The organisation is committed to developing high quality, sustainable homes and improving the lives of local people through investment in housing and community initiatives.
 

Working together to build possibilities

The funding provided by Principality Commercial will support Adra in delivering 23 new affordable homes under the Cae Perthi scheme in Y Felinheli, whilst also helping to enhance the quality and sustainability of its existing properties.

The partnership marks Adra's first contract with Principality Commercial, and reflects our shared commitment to supporting communities and increasing access to quality, affordable housing across Wales.

Jan Quarrington, Senior Portfolio Manager at Principality Commercial said:

“We are absolutely delighted to become a new funding partner to Adra, where our new £20m long term funding will support the next phase of their growth agenda alongside the important ongoing investment into their existing homes.

We are proud to be working with an organisation like Adra, where we share the same values and understand the demand for affordable homes in our communities has never been greater.

By supporting Adra with the funding of their development programme they will be able to provide a significant number of new high-quality sustainable affordable homes across North Wales, and we look forward to growing our relationship with Adra."

Rhys Parry, Director of Resources at Adra said:

“We are delighted to have secured our first loan facility with Principality. This milestone marks an important step in strengthening Adra’s financial capacity to deliver additional homes, while continuing to invest in high-quality services for our communities across North Wales.

This new loan facility from Principality has enabled Adra to successfully deliver the 23-home Cae Perthi scheme in Y Felinheli. This investment marks a key achievement with Adra now owning and managing over 7,500 homes.

We look forward to building on our strong partnership with Principality, underpinned by shared values and a mutual commitment to supporting our customers and communities.”