Member Article

Wirral housing association builds property portfolio

A housing association based on the Wirral is increasing the number of properties it operates, having secured a seven-figure re-financing package from Lloyds Bank Commercial Banking.

From its headquarters in Bromborough, Alpha (RSL) Limited, trading as Alpha Homes, operates 848 dwellings across 25 housing schemes, mainly in the North West but with some as far as Leeds, Sheffield and Telford.

Established in 1963, the not-for-profit organisation provides sheltered housing and related support for over 55-year-olds, and employs 110 staff including its own residential house managers and housekeepers.

Graeme Foster, chief executive of Alpha Homes, said: “This new funding will be a huge boost to us this year, and beyond, as we look at new ways to expand the range of housing we offer.

“We focus on helping our residents to live independent lives, but our house managers are always on hand to offer a little support where necessary, and activities like lunch clubs in the properties’ communal areas are a key part in making each a welcoming place to live.”

Following the refinancing deal, the organisation has begun to acquire additional properties to broaden its geographic coverage into the Midlands and Yorkshire, most recently securing 11 units within a specialist McCarthy & Stone development in Whitchurch.

Alison Williams, finance manager for Alpha Homes, added: “Transferring all of our banking facilities was an enormous undertaking, but the support from our relationship managers at Lloyds Bank was as impressive as it was efficient, and they really went the extra mile to remove the stress and hassle from the process.”

Steve Hughes, relationship director for Lloyds Bank Commercial Banking, said: “Alpha Homes has grown impressively in recent years while continuing to provide a high standard of service to its residents.

“Building a strong relationship quickly is key to securing a fast and efficient deal of this nature, and Alpha Homes’ team have been a pleasure to work with from the start.

“Our specialist teams of relationship mangers work closely with property firms and housing associations across the country and are familiar with current issues affecting them. This enables us to offer support tailored to their needs to help them seize growth opportunities when they arise.”

This was posted in Bdaily's Members' News section by Sophia Taha .