Great Places Secures £100 Million Funding to Deliver Over 650 Affordable Homes

Great Places is pleased to announce that we have secured £100 million in funding through the Affordable Homes Guarantee Scheme (AHGS), managed by Venn on behalf of the UK Government. This significant investment will enable us to deliver more than 650 new affordable homes across the North West and South Yorkshire, while continuing to invest in our existing properties.

The funding forms part of a new £200 million facility, giving us the flexibility to access an additional £100 million in the future. This long-term, cost-effective capital is a key component of our treasury strategy, ensuring we can bolster liquidity and secure debt at the right time to support our development plans.

Commenting on the funding agreement, Mike Gerrard, our Chief Financial Officer, said:

We’re delighted to have secured this funding through the Affordable Homes Guarantee Scheme. Venn have been great to work with, and this new funding forms an important part of our treasury strategy; bolstering our liquidity and accessing long-term debt when the time is right. The funds will support both the delivery of new, affordable homes and continued investment in our existing properties.

Will Roberts, Director at Venn, added:

We’re delighted to welcome Great Places as a new borrower to the Scheme and to have delivered long-term funding for them at a compelling rate well within that of their Business Plan. Great Places are contributing substantially to the delivery of new homes across the North West and Yorkshire and we’re pleased to help them in doing this, and look forward to continuing to support them with their development and investment plans in the future.

This funding reflects Great Places ongoing commitment to tackling the housing crisis and creating vibrant communities. In 2024/25, we delivered 726 new affordable homes and invested over £230 million into building new homes and supporting our customers and communities. With over 2,300 homes currently on site, this latest investment will help us continue to make a real difference.