Deal

Waking up the market: Deal complete on £5.7m affordable housing scheme

Waking up the market: Deal complete on £5.7m affordable housing scheme

Our real estate team have supported Platform Housing Group on the completion of a £5.7million deal for an affordable housing scheme at Hunts Grove in Gloucester.

The 30-unit scheme will comprise a mix of two and three-bedroom homes for shared ownership, as well as two-bedroom flats for rent to buy. This is the second completion that our team have worked on with Platform Housing Group, following a 50-unit deal at Burleyfields, in Stafford, earlier this year. The Midlands-based housing association has a strong social purpose and works to deliver quality homes and services that bring tangible and positive differences to local homes, lives, and communities.

The group, which owns and manages 47,153 homes across the Midlands and is currently the second largest housing association builder of affordable homes, was advised by us on all legal aspects of the deal.

Joanna Deffley, a partner at the firm and West Midlands’ regional head said:

The completion of this scheme is extremely positive news for affordable housing development in the area and indicates positive movement in the market following a stutter at the start of lockdown. Affordable housing, and the wider real estate market, is a keen focus for the firm. We feel privileged to have worked alongside Platform Housing Group on this scheme and look forward to assisting the group on future projects in the Midlands.”

Simon Vick, development director (West) at Platform Housing Group, said:

“This development is really exciting for us at Platform Housing Group and we are delighted to announce its completion particularly as there continues to be an increase in the need for affordable housing.  Crucially, offering shared ownership helps people who are unable to get on the housing ladder, the chance to part own their home.”

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