For-profit secures £25m loan to deliver 1,300 homes

Claire Donnelly, interim chief executive officer at Auxesia, said: “We currently have some 300 homes in the immediate pipeline and there are several incredibly exciting developments ahead.

“We have developed some fantastic relationships and built close networks, not only with the professional sector, including high street lenders, but with trusted house builders and developers.”

Graham Fleming, real estate finance relationship director at HSBC UK, said: “With demand for affordable housing continuing to rise, it’s essential that innovative providers like Auxesia have access to flexible, purpose-driven funding.”

Auxesia worked with Centrus Advisors and Anthony Collins Solicitors to complete the funding deal with HSBC.

Earlier this month, Auxesia reported a 53% fall in its turnover for the year to December 2024, down to £4.7m. The reasons for this included a reduction in the number of shared ownership sales and the sale of 89 homes to a housing association.

The for-profit also logged a post-tax loss of £2.8m for the year, compared with a £2.5m loss in 2023, and the number of its affordable homes went down to 338 from 354.

In the summer, Auxesia appointed Claire Donnelly as interim boss and Phil Martin as interim finance officer.

The appointments came as the for-profit had been executing a five-year plan to “significantly” expand its housing delivery across the North West, Yorkshire and the Midlands.

It also sold 134 homes to landlord Onward Homes in a deal valued at £13.5m, including 89 shared ownership and 45 affordable and social rent homes located across the North West.