FESTIVAL Housing Group has celebrated its first anniversary.

The group was formed from the merger of Malvern-based Partnership Housing Group and Droitwich-based Spa Housing Group.

It now manages around 8,000 homes in the Malvern and Ledbury areas, along with Worcester and Droitwich.

The group, based at the Enigma Business Park in Malvern, has just completed a new loan refinancing. Chief executive Guy Weston said the £180 million deal with the Bradford and Bingley Building Society gave it the most competitive interest rates on the market, saving money which could be ploughed into front-line services.

He also welcomed the recent addition of Malvern Hills Homeless Young Adults Group to the organisation.