Liverpool housing association Plus Dane secures £30m in debt funding to support its ambitions to build 1,120 homes by 2030. Tony McDonough reports
Housing association Plus Dane has secured £30m in debt funding from lender Principality Commercial to support the building of more affordable homes.
Plus Dane, which is based at Liverpool’s Royal Albert Dock manages more than 14,500 homes across Liverpool city region and Cheshire. It plans to build 30 affordable homes by 2027 and extend the programme to achieve 1,120 homes by 2030.
An affordable rental home is where the rent is set at no more than 80% of the local market rate. This cash injection will also allow for further investment into the sustainability and long-term resilience of its existing stock.
Scott Owen, head of treasury at Plus Dane, said: “In 2025, our Board set us the challenge of securing £100m of competitively priced funding and extending our debt maturity profile to support delivery of our business plan and provide financial stability through to 2027.
“This new £30m, 25-year facility with Principality is an important milestone in meeting that objective. It strengthens our long-term funding position, provides certainty to support our future plans, and has been secured on terms that deliver strong value for money.”
This agreement represents the building society’s second housing association deal in England, building on Principality’s growing presence in the affordable housing sector across England and Wales.
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Richard Wales, commercial lending director at Principality Building Society, added: “Plus Dane Housing plays an important role in delivering affordable housing and investing in communities across Cheshire and Merseyside.
“We’re pleased to be working with the organisation as it continues to invest in both new and existing homes.”