Barclays backs Partick plans with £18m

Barclays Corporate has agreed a new £18 million-plus funding deal with Partick Housing Association.

The 30-year loan facility will enable the social housing provider to further expand its existing stock of 1,700 units.

The £18.05m funding package is welcome news at a time when the sector is under intense pressure to deliver affordable homes. As many as 535,000 households in Scotland are believed to be on local authority and council house waiting lists.

Rob McElroy and Pat McGinness of Barclays Corporate’s Scottish property and project finance team led the deal.

McGinness said: “We have worked with Partick Housing Association since 2006 and have facilitated this finance to support the organisation’s development and growth as part of our ongoing relationship.”