Torus Group, one of the UK’s largest housing associations, has recently announced a major funding boost of £217m from three leading lenders. The funding package, which includes agreements with Lloyds Bank, NatWest, and Barclays, will be used to support the organization’s ambitious development plans across the North West of England.
This financial injection comes at a crucial time for Torus Group as they aim to deliver over 5,000 new homes by 2024. The funding will enable the housing association to accelerate its development projects, providing much-needed affordable housing for communities in the region. With a strong focus on social impact and sustainability, Torus Group is committed to creating high-quality, energy-efficient homes that meet the needs of local residents.
In addition to supporting new developments, the funding will also be used to refurbish and modernize existing properties within Torus Group’s portfolio. By investing in the maintenance and improvement of its housing stock, the organization aims to enhance the quality of life for its residents and contribute to the overall regeneration of the areas in which it operates.
Torus Group’s partnership with three major lenders is a testament to the organization’s solid financial standing and strong track record in the housing sector. By securing this substantial funding package, Torus Group can confidently move forward with its ambitious growth plans, ensuring that it remains at the forefront of affordable housing provision in the North West.
The Chief Financial Officer of Torus Group, Mark Rennison, expressed his enthusiasm for the funding agreement, stating that it would allow the organization to deliver on its commitment to providing high-quality, affordable homes for those in need. He also acknowledged the valuable support of the three lenders involved in the deal, praising their confidence in Torus Group’s vision and capabilities.
Looking ahead, Torus Group is focused on delivering its development pipeline in a timely and efficient manner, with the aim of positively impacting communities and addressing the pressing need for affordable housing in the North West. The organization’s dedication to social responsibility and sustainability underpins all of its activities, ensuring that its developments not only meet housing needs but also contribute to the long-term well-being of residents and the wider environment.
In conclusion, Torus Group’s successful securing of a £217m funding package from Lloyds Bank, NatWest, and Barclays represents a significant milestone in the organization’s growth and development plans. With this financial support in place, Torus Group is well-positioned to continue its vital work in providing affordable, high-quality homes for communities across the North West, making a lasting positive impact on the lives of residents and the wider region.
