4 February 2020

Principality funds £5m towards affordable housing projects in North Wales

Principality Commercial has provided £5m in financing to North Wales Housing, to support the development of affordable housing across North Wales. 

Developments benefitting from the funding include Canada Gardens, located in Holyhead.  In partnership with Isle of Anglesey County Council, Canada Gardens will provide 25 affordable homes to the community. The development, which consists of two bedroom houses and one bedroom flats is expected to partially complete in May 2020, fully by September 2020.

The latest funding supports Wales’ largest building society’s commitment to affordable housing investments in Wales. Last year, the Society’s fund for Welsh housing associations was increased to £75m.

Jan Quarrington, Social Housing Manager, Principality Commercial said:
“We’re delighted to be working with North Wales Housing who are providing much needed homes in North Wales. As a mutual Society, our ethos is to help people to prosper in the homes and communities they live in and we’re proud to be supporting North Wales Housing who share this ethos.”

Jayne Owen, Finance Director, North Wales Housing said:
“We’re extremely pleased to be working with Principality, a fellow Welsh company, as part of a wider refinancing deal. This additional finance will allow us to accelerate our development programme, bringing much needed affordable housing to North Wales.”

To find out more, visit www.principality.co.uk/commercial

Published: 04/02/2020