Major homes boost for Essex

Posted: 23 Apr 2015 16:46:47 GMT

            Property News - Major homes boost for Essex

A major investment in new homes is to take place in Essex and south-east London.

Plans to deliver hundreds of new homes in Essex and south-east London have been announced by Estuary Housing Association.

A £40 million cash injection has been secured by the body via M&G Investments, with the money aimed at securing the delivery of up to 400 new homes over the next three years, Development Finance Today reports.

Estuary chief executive Paul Durkin commented: "We are very pleased that we have been able to raise funds at a favourable rate that enables us to meet our social purposes through the provision of much-needed affordable homes in areas of acute need."

The new homes are to be built across a range of London boroughs and at several sites in Essex, with the financing deal seen as playing an integral role in helping the company achieve its ambitious aim of bolstering its housing portfolio by an additional 4,500 properties by the end of 2018.

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