Housing provider with base in Boston looks to grow its plans after bond sale success

A Lincolnshire housing provider with a base in Boston is looking to build more new homes than originally planned, thanks to a recent bond sale.

A Lincolnshire Housing Partnership property at the Quadrant, in Wyberton.
A Lincolnshire Housing Partnership property at the Quadrant, in Wyberton.

Lincolnshire Housing Partnership (LHP) had already pledged to provide 240 new homes between 2019 and 2023.

The social landlord of 12,500 homes was formed in April 2018 from a merger between Boston Mayflower and Grimsby’s Shoreline Housing Partnership.

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Now, after securing what it described as a ‘significant premium’ on retained bond sales, it says it is in a position to exceed that 240 figure.

It adds that the sale also offers it increased resilience to any post Covid-19 challenges.

Executive director of Resources Julie Kennealy said: “This is a great outcome for LHP and transformational in our financial position.

“This capital will allow an opportunity LHP to extend the growth commitments of its 2019 Strategic Plan, which included 240 additional homes in communities across Lincolnshire by 2023 and maintain strong liquidity and financial resilience to meet future challenges presented post-pandemic.”

LHP was supported in the bond sale process by Centrus as treasury advisors, Savills as valuers, and Trowers as legal advisors.