News

The last 12 months has seen unprecedented change in the social housing sector. In addition to the implications of last year’s summer Budget, the VRTB settlement and ONS reclassification, the government has shone the spotlight on housing associations for not using their public subsidy to build new homes.

Loddon Homes Limited has recently received confirmation from the HCA of its registration as a for-profit Registered Provider

Last week, AHF issued £161 million of bonds for seven RPs, at 35 basis points over gilts. The all in cost of the bonds was 2.61 per cent.

We advised The Hyde Group in connection with a successful consortium bid, with Mount Anvil, to be a member of a TfL panel to develop TfL sites.

We advised L&Q New Homes on a joint venture with the Anderson Group to build 600 homes on the site of the former Erith Quarry, in Bexley.

We advised L&Q New Homes on the acquisition of a 51% interest, from Bellway Homes, in a joint venture to develop the 179 hectare former Barking power station.

We advised an international housing charity on issue of a social impact bond to fund community development in Africa.

We have advised over 20 registered housing provider groups on their registration with the Financial Conduct Authority (FCA).

Delay in Construction Contracts

The Government has announced that the new Procurement Regulations will come into force in the UK on 26 February. The new Regulations will make some important to changes to public procurement in the UK. It will be important for all of our contracting authority clients (which include Registered Providers and Local Authorities) to understand how the current regime will change, and what these changes will mean for them in practice.

Devonshires are pleased to welcome Matthew Webb, Brian Hearne and Krissun Soodin to the Real Estate & Projects team.

Devonshires is acting for Dolphin Square Foundation on its registration of a new registered provider with the Homes and Communities Agency. Dolphin Square is itself a registered charity and has recently acquired the New Era estate.