The largest Scottish charitable bond to date
Wheatley is Scotland’s leading housing, care and property-management group and one of the UK’s best-accredited organisations. In February 2019, Wheatley received the largest Scottish Bond to date of £16 million – being used to part fund Dunedin Canmore’s new-build programme in Edinburgh and the Lothians.
In support of the Scottish Government’s ‘More Homes Scotland’ agenda, Wheatley is committed to increasing the supply of affordable housing in its communities and is one of the biggest developers of homes for social rent.
Martin Armstrong, Chief Executive of Wheatley Group, said: “We are delighted to have received £16 million of investment through the charitable bond scheme. It is helping us progress our plans for hundreds of new affordable, energy-efficient homes in and around Edinburgh.”
“The bond is a good choice because of its flexible payment terms – giving a cash flow benefit as interest is only paid on maturity.” Martin Armstrong, Chief Executive, Wheatley Group
Allia’s Scottish Charitable Bond programme uses Scottish Government investment to provide unsecured loans with simple and straightforward terms, for up to 15 years. Only at the end of the term is the loan and interest repaid. Scottish Government uses the loan interest to create a grant fund, so they can donate funds to further support housing development – which helps keep the money in the sector.
“It’s about so much more than simply bricks and mortar. Wheatley’s mission is to make lives, not just homes, better. This charitable bond supports us to do just that.” explained Martin.
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KEY FACTS: WHEATLEY GROUP
- Own or manage over 79,100 homes
- Delivers award-winning service to over 200,000 people across Scotland
- Employs over 2,700 people directly, and a further 2,000 as joint owners of City Building (Glasgow)
- Mission: “Making homes and lives better”
(Details correct as at April 2019)
