A housing association is to build hundreds of homes across the Outer Hebrides after agreeing a £25 million funding deal.
Hebridean Housing Partnership (HHP) said the loan from Royal Bank of Scotland will be used to deliver an investment plan of about £53million.
This will include 300 new homes. The social landlord, which has offices in Stornoway and Balivanich, is also upgrading the 2,200 homes it already has in its portfolio and has plans for greener heating.
Upgrades will include the replacement and repair of roofs, bathrooms, kitchens, windows and heating systems, as well as importantly help to address levels of fuel poverty across the region, which are currently among the highest in the UK. Already, HHP has replaced almost all solid fuel heating systems with air source heating and is making good progress on replacing storage systems.
HHP currently employs 53 people. It plans to expand the team by three through the appointment of two graduate trainees and one modern apprentice over the next 12 months.
Major milestone
Iain Macmillan, chair of HHP, said: “Royal Bank of Scotland’s £25million loan facility represents a major milestone for us and supports the continued growth of the organisation which has accelerated at pace since its formation in 2006.
“The funding puts us in a strong position to deliver new homes and continue to invest in our housing stock, as well as upgrade existing properties to deliver energy efficient, affordable homes for our tenants.”
Alan Newlands, relationship director at Royal Bank of Scotland, said: “Last year we announced that we will be investing £3billion in social housing across the UK over the next three years, supporting the construction of 20,000 homes.
“With Hebridean Housing Partnership progressing with the delivery of much-needed homes across the Outer Hebrides, it was rewarding to offer our long-term and valued customer a restructured and flexible financial package to help support the delivery of new homes.”