Trowers advises city council on purchase of 740 homes, in largest social housing transfer of its kind

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Law firm Trowers & Hamlins has advised Portsmouth City Council on the acquisition of 740 social housing homes from Clarion Housing Group, a deal believed to be the largest tenanted social housing transfer of its kind.

Details: 05.Mar.2024

Trowers said the homes were sold to the council as part of the organisation's long-term asset strategy and significantly strengthens the authority’s position as the largest registered social provider in Portsmouth and Havant.

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The homes are predominantly situated in Portsmouth, with some located outside of the city in areas such as Gosport, Fareham and Winchester. They comprise a number of shared ownership houses, the first such properties the council has undertaken.

As part of the deal, one more batch of homes located in Portsmouth will be completed during the summer, meaning 818 homes will have been acquired in total.

The Trowers team was led by Partner, Louise Robinson, working alongside Projects and Construction associate Stanley Kamalu, Real Estate Managing Associate Tom Wainwright who advised on contracts, and Real Estate Senior Associates Anna Streeter and Sarah Cross who advised on titles and due diligence.

Robinson said: "It was a pleasure to advise Portsmouth City Council on this highly significant deal, which is believed to be the largest transfer of social housing to a council of its kind. It's a great deal for the tenants who will benefit from enhanced security of tenure.

"It was a pleasure to assist the council on their first large scale acquisition of this nature and we look forward to working with them again in the future."