News & Events

News & Events

Back To News

Andrew Jackson advises leading social housing supplier on £10m property funding

Our corporate team is very pleased to have advised Pickering and Ferens Homes, a leading supplier of social housing in Hull and East Yorkshire, on a £10m specialist funding package to assist its expansion.

Pickering and Ferens plans to develop 122 new homes during the course of the next three years and has raised £10m via an aggregated bond issued by The Housing Finance Corporation through its Affordable Housing Finance (AHF) subsidiary, which earlier this year issued £161m bonds priced at 2.61%.

Pickering and Ferens was guided through the process of bond issue and the subsequent securitisation of the bonds to secure the funding by a team led by Philip Ashworth, corporate finance partner, along with Helen Mellors, Matthew Smith and Grace Moreton.

Pickering and Ferens’ chief executive, Claire Warren, said: ” We were delighted at the detailed technical input received from the team at Andrew Jackson and more than pleased that tight deadlines were achieved to enable a timely drawdown of funds from AHF”.

Philip said:- “We are very pleased to have been able to help Pickering and Ferens achieve its objectives and secure the funding required to realise the much needed expansion of its successful social housing portfolio.

“This type of funding is unusual and was available to qualifying social housing providers through AHF, enabling them to flourish by having access to very competitive long-term funding lines.”

The transaction follows our corporate team’s recent involvement in the arrangement of an £11m property funding line from the Luxembourg based specialist property fund, ICG Longbow Debt Investments No4. S.A.R.L, providing finance for the purchase of 87 student houses from the University of Hull for Kexgill Limited.

Contact Us

Let's keep in touch!

To receive regular updates such as newsletters, legal updates and invitations to upcoming events please fill in your details below.

I agree that Andrew Jackson Solicitors LLP will retain my details on its database, and may sometimes use the details in accordance with its Privacy Notice to send marketing materials to me.



    Type your search term above

    Please enter a search term above and we'll show you any matching pages.

    Call us

    Hull+44 (0)1482 325 242

    York+44 (0)1904 275 250

    Grimsby+44 (0)1472 267 770

    Scarborough+44 (0)1723 882 500

    We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Andrew Jackson Solicitors LLP website. However, you can change your cookie preferences at any time through your browser settings. Click here to view our cookies policy.