Successful Refinancing of Royal Victoria Court

Tirion Homes completes another £13m refinancing of Royal Victoria Court with M&G Investments.

What a great way to start the week with the successful refinancing of the final phase of our Royal Victoria Court community in Newport. The £13m agreement with our long-term investment partner, M&G Investment, brings total pension fund investment in Tirion Homes’ developments to £100 million.

The new funds will allow full repayment of the development finance facility and completes the delivery of this major regeneration scheme, transforming the former Whiteheads steelworks site into a thriving, mixed-tenure community of more than 500 homes.

At Tirion Homes, our mission is to provide more high-quality homes for less public money and Royal Victoria Court is a leading example of this. We’ve delivered 528 new homes, with 50% affordable housing, all to be professionally managed and maintained long-term by Tirion Homes’ own Property Management function.

Chad Patel, Finance Director at Tirion Homes, said:

“This re-financing milestone not only demonstrates the financial strength and maturity of our property portfolio, but also reinforces institutional confidence in Tirion Homes’ long-term housing model. We are particularly grateful to M&G for their continued support and belief in our approach to delivering sustainable communities and social value at scale.”

This latest investment supports our unique, not-for-profit model, enabling the recycling of capital into new housing supply while ensuring long-term stewardship of the communities we create.

We’re proud of the impact Royal Victoria Court has already made in Newport and are grateful to our partners, Llywodraeth Cymru / Welsh Government, Principality Building Society and Lovell Partnerships Ltd, alongside M&G Investments, for helping us turn a brownfield site into a vibrant, inclusive neighbourhood.