The new funding set to deliver upon a major programme of improvement & retrofitting works to a number of its homes.
11th Jan 2025
Teesside private housing provider Thirteen Housing Group, has secured a £30 million funding boost to support an extensive improvement program across its properties in the North East.
The significant investment forms part of a wider £211 million funding package provided by NatWest, who reportedly remains a key financial partner for the largely Teesside based organisation.
A key feature of the agreement is said to be the inclusion of a Housing Green Retrofit Loan (HGRL), enabling Middlesbrough based Private Landlords Thirteen to move forward with its commitment to sustainability, with the retrofit initiative said to align with governments objectives to achieve net-zero carbon emissions by 2050.
Andrew McColl, interim chief finance officer at Thirteen Group, highlighted the importance of the funding saying :
“The £30 million loan will allow us to fast-track our energy-efficiency upgrades, directly improving the quality of life for thousands of residents. It represents a major milestone for Thirteen, reinforcing our dedication to sustainability and our strong track record of investing in our housing stock. We value our ongoing partnership with NatWest as we implement these transformative changes.”
NatWest’s David Horne, director of finance, underscored the importance of this collaboration adding:
“We’ve worked closely with Thirteen over the years, supporting their mission to provide high-quality, sustainable housing. This funding is a critical step in helping the organisation upgrade its existing homes and move closer to achieving net-zero emissions.”
Thirteen Group currently oversees more than 36,000 homes, serving approximately 100,000 residents across the North East, Yorkshire, and Humber regions. The organisation employs over 1,500 staff and has invested nearly £250 million pounds into new builds and property upgrades during the 2023/24 financial year. Thirteen Housing Group aims to construct a further 650 new homes next year and has set a five-year target of delivering over 1,800 additional properties, however the firms been the subject of some considerable public criticism over its alleged 'tax avoidance' strategies, with the Teesside landlord rarely paying anything in UK Corporation Taxes shining a spotlight on what many claim is the landlords failure to pay its fair share in the corporate world & calls for it to be stripped of its tax benefit status growing.
The green loan funding from NatWest is part of the bank’s pilot initiative, which allocates £110 million to affordable housing providers committed to sustainable development. By leveraging this funding, its claimed Thirteen is poised to make a significant impact on both the environment and the communities it serves, but the questions over its tax affairs are still said to be overshadowing its contributions to the local community in a harmful way....