Landlord’s £117m to improve energy efficiency

By Brian Donnelly

ONE of Scotland’s largest social landlords has secured a £117 million loan to help improve energy efficiency and sustainability in its properties.

River Clyde Homes said it will use the Royal Bank of Scotland funding to raise living standards in the affordable housing market, with a focus on the sustainability and energy efficiency of existing properties.

It means that River Clyde Homes will be able to pursue key investment priorities for tenants, “centred on increasing thermal comfort, reducing energy demand and bills, improving air quality, lowering carbon emissions, and creating homes that will stand the test of time”, it said.

The bank’s funding package is made up of £20m of new funding along with a £97.5m refinancing restructure, providing the social landlord with the “confidence and flexibility to pursue business objectives that support local communities and tenants”.

Formed in 2007, the organisation manages over 6,000 homes and provides factoring services to a further 2,200 customers in the Inverclyde area.

River Clyde Homes is also an important source of employment in the area with around 300 current members of staff.

John Wright, of River Clyde Homes, said that “securing this funding is a major milestone” for social landlord.

CREDIT: Brian Donnelly