A new delivery and financing model to support volume delivery of good quality affordable housing through an efficient capital and funding mechanism
An efficient long term funding structure to de-risk development programmes of housing associations or house builders
Addresses challenges faced by housing associations and other developers in terms of valuations, loan covenants and restrictions arising out of their existing funding arrangements
A step change in the ability to unlock significant volumes of institutional investment through a self-sustaining financing structure which achieves true off balance sheet treatment
LINQ Partners, M&G Investments and housing associations Notting Hill Genesis and Swan have joined forces to develop and finance a new model for mixed tenure housing.
LINQ Housing is a new delivery and financing model specifically designed as a means of supporting volume delivery of affordable, shared ownership, market sale and market rented housing through an efficient capital and funding mechanism.
The scheme launched in March 2016 with the purchase of its first long term housing assets from Genesis. The market rent units were drawn initially from two multi tenure schemes in London, 50 flats at Zenith House, Colindale and a further 27 flats in the Mildmay regeneration scheme, Shoreditch. In May 2017 a further 40 flats in the Mildmay scheme were acquired together with 74 flats in Chelmsford. All are new units which will be held by LINQ for market rental on a long term basis.
In November 2020 a further 40 flats were acquired from Swan at Blackwall Reach.
The new model should be of great interest to the social housing sector because it offers an efficient long term funding structure that can be used to de-risk development programmes of housing associations or house builders.
It also helps to address many of the financial challenges around delivery faced by housing associations and other developers in terms of valuations, loan covenants and restrictions arising out of their existing funding arrangements.
Sponsors & Funders
LINQ Partners, who designed and structured the initiative, is a private investment entity created by specialists in housing finance who are or were partners and associates of Centrus Advisors LLP. With the closing of the first transaction, LINQ Partners was established as an independent business which is run and managed by John Shinton, Mark Gomar and Jon Clarke.
LINQ Partners is supporting the initiative with equity investment and will drive the next phase of its development seeking to expand the initial base of sponsors to include other housing associations and like-minded equity providers.
Directors of LINQ Housing
- John Shinton Chairman
- Anna Catt Director
- Wasiu Fadahunsi Director
- Mark Gomar Director
- Ian Haworth Director
Notting Hill Genesis is one of the UK's leading housing associations, owning or managing more than 66,000 homes across London and Southeast of England with a stock portfolio ranging from temporary housing to rented homes, shared ownership homes, homes for outright sale and market rent, student and supported housing.
NHG has supported the initiative with its own equity.
Swan Housing Association operates in East London and Essex, locally managing over 11,500 homes, including social rent, shared ownership, NHS accommodation and supported schemes. Swan is a regenerating landlord and currently has a secured development pipeline of over 8,000 homes to be delivered using both traditional and offsite construction by in-house developer Swan Commercial Services.
Swan has also supported LINQ with equity investment
M&G Investments is an international active asset manager, investing on behalf of individuals and institutions for over 80 years.
At 31 December 2020 the firm had £232.3 billion of Savings and Asset Management assets under management and administration through a wide range of investment strategies across equities, fixed income, real estate and multi asset.
Headquartered in London, M&G plc employs almost 6,000 people worldwide operating from 25 offices across 5 continents. M&G Investments is the asset management arm of M&G Plc
M&G provided the long term debt finance for the launch phase of LINQ Housing.
and in the regeneration schemes at Mildmay, Shoreditch (below left) and Chelmsford (below right).
LINQ Housing Plc,
3 Lombard Street,
John Shinton email@example.com
Mark Gomar firstname.lastname@example.org
For all tenancy related issues including reporting repairs
please contact our managing agents:
For Zenith House, Colindale; Mildmay and Chelmsford:
Touchstone London: email@example.com | 01225 838 490
For Perseus Court and Royal Captain Court at Blackwall Reach:
Hera Management Services: firstname.lastname@example.org | 0345 683 8812