Social housing boost as Hanover secures bank deal

Hanover Scotland secures £40m in first-of-it’s-kind deal

Hanover Scotland has secured a £40m funding facility in an innovative agreement which is the first of its kind in the social housing sector. The transaction, which combines a linked revolving credit facility and private placement, was arranged by Bank of Scotland.

The funding will be used to support the ongoing development plans of Hanover, which manages 5,000 properties on 200 developments across Scotland, with a particular focus on housing for older people. Hanover’s business plan includes a goal of building at least 40 new units each year.

It has secured a new five-year, £20m revolving credit facility (RCF) from Bank of Scotland, with whom it has had a relationship for almost 20 years.

At the same time, the housing association has also agreed a £20m private placement, funded by an institutional investor. This finance, which will be drawn down in 2018 and mature in 2048, will be used to repay the RCF, which will itself be adjusted to £5m in 2018.

The structure of the facility is the first of its kind in the social housing sector as the RCF and private placement are formally linked and share the same security. Meanwhile, the mix of short-term funding from the RCF combined with a longer-dated private placement provides Hanover with a flexible finance package tailored to its ongoing needs.

Helen Murdoch, Chief Executive of Hanover Scotland, (pictured above) said: “The versatility of the structured borrowing fully meets our planning requirements. Hanover has an established history in providing high quality affordable housing for the elderly and this funding will enable us to continue to meet our ambitions to provide much needed new homes.

It is clear that Bank of Scotland fully understand our sector. We believe that our arrangement provides good value for money for our existing and future residents, which is extremely important and is our ultimate goal.”

The RCF was arranged by Bank of Scotland’s dedicated social housing team, while the private placement was handled by the bank’s debt capital markets team.

Marc Ward, relationship manager in the social housing team at Bank of Scotland, said: “This is a tailored, innovative solution which meets the long-term funding needs of Hanover Scotland while also providing short-term liquidity to support its development goals. We believe the structure – combining a conventional revolving credit facility with a private placement – is the first of its kind in the sector.

“Meanwhile, the dual role on this transaction played by our sector-focussed social housing team and our colleagues in debt capital markets demonstrates the breadth of our offering to clients.

“These are transformative times for housing associations as the funding environment continues to shift around them. This deal, which includes securing funding from a blue-chip institutional investor, underlines that the investment community continues to place great value on the social housing sector and the crucial role it plays in the UK.”

Hanover was founded in 1979 and is today Scotland’s leading housing association for older people, with local developments in Stockbridge and Trinity. Its head office is in MacDonald Road and it also has offices in Glasgow and Elgin.

Hold Me Dear: Four Cities, [Extra]ordinary Places

It’s Here + Now! Outdoor exhibition, Rodney Street Tunnel

Here + Now launch event: Sunday 27 September, 12 noon – 2pm

An open air photography exhibition, featuring unique pictures and stories of treasured city spaces taken by local people living in Edinburgh, Copenhagen, Hamburg and Istanbul, opens in the Rodney Street railway tunnel in Canonmills this Sunday.

Curated by HERE + NOW, the exhibition provides a unique and exciting opportunity for people to share the places that matter most to them, building up a very personal insight into a residents’ view of their Edinburgh the places that actually matter personally to local people beyond the usual tourist landmarks.

Visit the ‘City Link’ section of www.holdmedear.co.uk to see the submissions.

PUBLIC LAUNCH PARTY- Sunday 27 September 12 noon

the exhibition will formally launch with a picnic event, talks, music performances and art-themed cycle tours around city.

The exhibition is created by HERE + NOW and supported by Sustrans, Edinburgh City Council, Inverleith Neighbourhood Partnership and the Friends of King George V Park. The exhibition is free and runs until 20 October.

Septemberfest’s this Saturday

SEPTEMBERFEST

Saturday 26 September 11am – 4pm, Broughton High School

The hugely-popular Septemberfest community festival takes place on Saturday (26 September) at Broughton High School from 11am to 4pm and this year’s event is set to be bigger and better than ever!

There’s free entry and a huge range of fun activities on offer – many of them free too – all organised by Broughton High School Parent Council. All welcome!

Looking out the window, I’m very glad it’s not taking place today! What is it about Edinburgh and public holiday weather?

Hold Me Dear: Four cities, (Extra)ordinary Places

What’s your favourite place in Edinburgh?

Fancy joining in some walking/cycling route mapping or a DIY exhibition-building day?

You may have heard about the upcoming Hold Me Dear: Four Cities, [Extra]Ordinary Places photography exhibition taking place in the Rodney St tunnel next to King George V Park in Canonmills.

This co-created community exhibition will feature photographs of people’s favourite personal places in their city, and has invited submissions from people across Edinburgh until the 17 September deadline.

Send us your photo and place in Edinburgh that means the most to you here! Get involved in one of our volunteer workshops! A great way to meet other people, explore the area and contribute to making this unique exhibition!

WEDNESDAY 2 SEPTEMBER – Join us from 10am-12noon to explore the local area around Rodney St tunnel in Canonmills and record your favourite walking or cycle routes and places along them. We’ll be turning these into a locally-loved community map to explore the local area from the exhibition in September!

FRIDAY 18 SEPTEMBER– Join us from 10am to help us DIY build the exhibition! Come prepared to get your hands dirty assembling exhibition boards and painting. You’ll get the chance to see your finished work at the exhibition launch event 12noon on Sunday 27th!

For more info or to sign up to join us, email hello@thehereandnow.org.uk

Inverleith Youth Forum: get involved!

Youth Forum Poster

Inverleith Young People’s Forum is starting up again and looking to recruit new members (see poster below).

Interested or like to find out more?

Contact Callum McLeod, Community Learning & Development Worker on 332 6316 or email Callum.mcleod@ea.edin.sch.uk

CAP to open debt help centre in Comely Bank

Debt counselling charity Christians Against Poverty (CAP) is launching its third Edinburgh debt help centre in Comely Bank next month.

CAP has partnered with St. Stephen’s Comely Bank Church (above) to extend its award-winning free service to those in need across the city. It joins two other busy centres at Central Church and Holy Trinity Wester Hailes, and brings the total number of CAP centres in Scotland to 22.

Manager of the new Edinburgh centre Claire Baggaley said: “The Church has always been about offering hope and we’re really pleased to be able to give more people a tried-and-tested route out of debt alongside other great free debt agencies in the area.”

“There is a lot in the Bible about looking after the poorest. In our society, a lot of poverty is debt-related so our congregation at St. Stephen’s Comely Bank Church has been working hard to open a CAP centre to help get people back on track.”

CAP offers a uniquely in-depth, caring service to people with spiralling personal debt regardless of their age, gender, faith or background. Every client is visited in their own home; the charity does all the negotiating with creditors and local volunteers offer support to each person face-to-face until the day they are debt free.

Statistics show that one in three callers seeking debt help are feeling suicidal but find huge relief through the non-judgemental service that treats every person as an individual.

The new service will be launched at St Stephen’s on Comely Bank Road on Thurday 10 September.

For debt help call 0800 328 0006 or visit capuk.org

Health and Social Care tops INP agenda

Inverleith Neighbourhood Partnership Public Meeting

Monday 24 August 6.30 – 8.30pm, Stockbridge Library

240815 poster v1

The attached poster gives information about Monday’s public meeting which is focusing mainly on raising awareness of, and giving people a chance to have their say on, changes to the way Health and Social Care (HSC) Services in Edinburgh are provided.

An easy to read version of the consultation plan is available here https://consultationhub.edinburgh.gov.uk/hsc/edinburgh-health-and-social-care-partnership-draft/supporting_documents/EHSCP%20Draft%20Strategic%20Plan%20%20easy%20read%20version%20plus%20questionnaire.pdf

and the full documents can be seen here https://consultationhub.edinburgh.gov.uk/hsc/edinburgh-health-and-social-care-partnership-draft/consult_view

All Welcome

New term, new classrooms

Hundreds of primary school children will start learning in their new classrooms today as the city council continues to tackle the issue of rising school rolls. Local primaries Wardie and Flora Stevenson are among the schools to start the new school year with additional classrooms.

The Council has provided 24 new class spaces, delivered in conjunction with partners Hub South East Scotland Ltd and Morrison Construction, for the start of the 2015/16 school session.

The primary schools where the new class spaces have been provided are: James Gillespie’s (4 classes), Clermiston (4), Flora Stevenson (3), Gilmerton (4), Pentland (3), Ratho (4) and Wardie (2).

In addition South Morningside Primary School now has a significant new temporary annexe which has been created for P1 and P2 pupils at the former Deanbank Resource Centre and extra internal space has been provided at both Brunstfield and Liberton Primary Schools.

Since 2013 the Council has provided 70 new class spaces to accommodate the city’s increasing primary school population, ensuring catchment pupils can get a place at their catchment school. At the start of the 2014/15 school year there were 28,010 primary school pupils but latest estimates show this is anticipated to rise to 31,700 by 2020 and then increase further to 35,400 by 2030.

New classrooms or not, good luck to all the children starting their new school today!

Our bus is coming back!

Victory for community councils bus campaign

Local residents will be able to get a 42 bus to Craigleith Retail Park again from October. Lothian Buses have agreed to reinstate the service and support the alteration to the 42 route following a joint appeal by local community councils.

Drylaw Telford Community Council chairman Alex Dale, who coordinated the campaign, said local residents will be delighted to hear the news. “The 42 service into the Retail Park has been missed and I’m often being asked: ‘when are we getting our bus back?’ It’s taken a while but it’s great to be able to tell people that the service is to be reinstated from the beginning of October. It’s good news and I hope local people will take the opportunity to use the service.”

Drylaw Telford CC joined forces with Stockbridge Inverleith, Blackhall Craigleith and Muirhouse Salvesen community councils to petition for the return of the service back in March, and Alex received confirmation from Lothian Buses earlier this week that the 42 will return to the local Retail Park this autumn.

The service was withdrawn because traffic problems around the shopping centre caused delays and disruption to the timetable, but it’s hoped that improvements to traffic signalling will reduce excessive delays.

A spokesperson for Lothian Buses confirmed that the 42 bus service will return to Craigleith Shopping Centre from 4 October on Monday – Fridays as a trial.

Western General: Must do better

Follow-up inspection finds there’s still room for improvement at Western General

The Healthcare Environment Inspectorate (HEI) has published its report following an unannounced follow-up inspection visit to the Western General Hospital on Tuesday 26 and Wednesday 27 May – and further improvement is required before the local hospital can be given a clean bill of health.

HEI, part of Healthcare Improvement Scotland, was set up to help reduce healthcare associated infection risk to patients through a rigorous inspection framework.

The HEI inspection team examined NHS Lothian’s self-assessment information and then inspected the hospital to validate this information, meet patients and staff, and visit wards and departments to assess how clean the hospital was and if it was meeting national standards.

This follow-up report should be read along with the previous report produced last November, as May’s inspection follows up on the requirements made at that inspection. (See NEN blog post 26 January ‘Simply Unacceptable’).

Inspectors found that the NHS board has met six of the requirements made at the previous inspection in November last year, and partially met two other requirements.

This latest inspection resulted in no new requirements or recommendations.

Jacqui Macrae, HEI’s Head of Quality of Care, said: “Our inspectors found that NHS Lothian has met six of the eight requirements we made in our previous inspection. Progress has been made in addressing the remaining two requirements but these have only been partially met.

“As a result, NHS Lothian must take further action to maintain a clean environment in the acute receiving admissions unit. It must also ensure that a consistent system is in place to check all mattresses across all wards and departments.

These requirements will be carried forward to the next inspection and we expect NHS Lothian to address these areas as a matter of priority.”

The full HEI inspection report can be found at: http://www.healthcareimprovementscotland.org/our_work/inspecting_and_regulating_care/nhs_hospitals_and_services/nhs_lothian/western_general_hospital.aspx