Macclesfield-based housing association agrees re-financing deal with Aviva Investors and Barclays 

PPHT - Hurdsfield_Macclesfield

A Peaks and Plain’s house in Hurdsfield, Macclesfield

Peaks & Plains Housing Trust is planning to build about 500 new homes by 2028 after striking a £102.5m funding deal. 

Macclesfield-based landlord Peaks & Plains secured the finance package with Aviva Investors and Barclays. 

The 5,200-home housing association will now be able to deliver on its plans for communities across three local authority areas in Cheshire, as well as in Derbyshire, High Peak in the East Midlands, and the North West of England thanks to the £72.5m private placement with Aviva Investors, and a refreshed £30m revolving credit facility with Barclays. 

Jules Booker, director of resources at the 5,200-home association, said: “The new deal with Aviva Investors and Barclays has enabled us to restructure our existing loan portfolio and extend our existing liquidity lines. This has helped to make us an even more resilient organisation that can create great places to live in the areas in which we operate.” 

Munawer Shafi, head of structured finance & private debt at Aviva Investors, also said: “The ability of social housing to provide solid cashflows whilst having a positive impact beyond our business and into communities makes it a compelling sector for us to increase our exposure to and to continue our support of.”

Robert Hession, Barclays’ relationship director, added: “We’ve been with Peaks & Plains since its inception in 2006 and we’re delighted to continue our partnership and support. This new finance package will enable the business to continue on its growth trajectory, investing in existing homes, developing new social housing and delivering for its present and future residents.”

Savills Financial Consultants advised on the deal.