- £16M charitable bond for Dunedin Canmore to help build more homes
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Posted 20.02.19
Dunedin Canmore: Article link
Housing association Dunedin Canmore - part of Wheatley Group - has secured £16 million of charitable bond finance to help build hundreds of new homes.
The loan is the largest to be awarded to date through the Scottish Government's innovative charitable bonds investment programme.
Wheatley Group Chief Executive Martin Armstrong said: "This helps us progress our plans for hundreds of new affordable homes in and around Edinburgh, as part of our wider new-build programme in support of the Scottish Government's More Homes Scotland agenda."
The latest tranche of investment brings the total investment raised by Wheatley Group to over £940 million and follows an announcement last year of £185 million of funding from the European Investment Bank, as well as a £76.5 million Scottish Widows and Bank of Scotland debt funding deal.
Wheatley Group is the UK's biggest developer of homes for social rent. It has completed over 2,300 new homes since April 2015 and has plans in place which will take the total number built between 2015 and 2025 to 7,500.
