Devonshires have acted for Stonewater as they increase their growing portfolio of 877 affordable homes in Coventry to 1,186 following the completion of a tenanted stock transfer of over 300 tenanted homes from The Guinness Partnership.
Stonewater has purchased 176 two, three and four bedroom houses and 133 two and three bedroom houses and one and two bedroom flats. All homes are general needs rented properties with most of the homes for social rent. Also included in the transfer were a community centre, estate offices and a store.
Elad Yasdi, Partner in our Real Estate & Projects team said “Stock rationalisation continues to be an important part of a RP’s asset management strategy and we are delighted to have been able to work with Stonewater on this project helping strengthen their presence in Coventry and their commitment to increase the number of affordable homes they own and manage in that area”.
Elad Yasdi, who heads up the Devonshires Stock Rationalisation Team was assisted by Charlotte Edwards on property, Kirsty Thompson in relation to TUPE matters and Chris Drabble in relation to future charging implications.