Capsticks advise Soha Housing on acquisition of 108 tenanted homes01/07/20
Capsticks is delighted to have advised Soha Housing on the acquisition of 108 homes from another housing provider. Exchange took place on 9 June 2020, 12 weeks into the COVID-19 pandemic, following instructions to Capsticks in January 2020. Completion of the first phase is due to take place before the end of December 2020 and the second phase, the supported living service for adults with autism, before the end of February 2021. Flexibility was introduced into the contract for sale to take account of the on-going COVID-19 Pandemic and the effect this continues to have operationally for RP’s to ensure continuity of service for residents leading up to and around the prospective completion dates.
The transaction involved the transfer of homes in Buckinghamshire and South Oxfordshire, including homes for more vulnerable residents who are supported by care packages. Soha is an award winning, high performing community mutual housing association, who look forward to welcoming residents transferring to the association and giving them the chance to engage fully in shaping Soha’s future as members of the association.
Richard Smith, Head of Asset Management for Soha Housing said: “We are happy to have been able to close this deal during the Covid-19 Pandemic, working in close partnership with the Capsticks’ team, and are keen to ensure the best experience moving forwards for all our residents.”
The project was led by Mike Regan, Associate at Capsticks. Mike commented: “We were very pleased to support Soha Housing with this project, which sees them strengthen their core presence in Buckinghamshire and South Oxfordshire and supports their aim to increase the number of affordable homes that they manage in this area.”
Capsticks offers a full service solution to housing providers, including acquisitions, all kinds of funding arrangements, governance and security charging, always with a focus on clear and practical advice to clients.