North Wales’ Adra secures £65m boost for affordable housing
A £20m social rent housing loan and a £45m refinancing package from NatWest will aid the Gwynedd-area registered provider in its goal to build 800 homes by 2030.
Audra’s new homes would be available for social or affordable rent, with targets for the new-builds to achieve an EPC rating of A.
Current projects include 48 homes by Bangor and 17 residences off Ffordd Glanffynnon – both schemes have secured planning permission from Gwynedd County Council. Wynne Construction is also lined up to deliver another project for the housing association: 49 homes in Bodelwyddan.
The NatWest money will also go towards Adra’s refurbishment programme, which aims to invest at least £85m in upgrading its existing 7,000 homes to meet EPC C standards.
“Adra is proud to be the first Welsh housing association to secure a social loan with NatWest, an important milestone that will directly support the delivery of much‑needed new social rent homes across North Wales,” said Rhys Parry, director of resources at Adra.
NatWest director of housing finance and commercial mid-market, Martin Skinner, added: “This is a significant transaction for Adra and for the Welsh housing sector, supporting the delivery of high-quality energy-efficient homes at scale. It shows how well-structured finance can directly back social housing delivery while aligning with long-term ESG priorities.”
Savills Financial Consultants assisted Adra on securing the NatWest funds. Savills director Alex Morgan described the impact the £65m package will have on the housing association’s plans for the future.
“This funding gives Adra the certainty and flexibility to move forward with its development plans at pace,” Morgan said.
“The structure aligns long-term investment with both growth and sustainability objectives, supporting the delivery of much needed affordable homes across North Wales.”
NatWest’s £500m social rent housing loan product was announced last summer. In the North West, ForHousing and Wythenshawe Community Housing Group have also secured funding from the ringfenced loan pot. ForHousing has said it wants to build 1,000 homes in the coming years, while WCHG has ambitions to deliver 200 properties a year.
