Capsticks has advised Tonic Housing on the acquisition of 19 shared ownership apartments at London’s Bankhouse from One Housing Group (OHG). The properties are to be developed into the first LGBT+ affirmative affordable residential community in the UK that is aimed at retired people.

The housing & regeneration team at Capsticks dealt with the transaction from beginning to end, including negotiating the new lease with OHG, handling the entry into an agreement for lease and agreeing the form of Service Level Agreement to govern the management of the leases. Additionally, the corporate and commercial team assisted in securing the necessary loan by negotiating the funding agreements with the Greater London Authority. 

The LGBT+ retirement community will provide a unique service, combining housing and assisted living care within a safe environment for older LGBT+ members. The community will arrange events and activities based on the residents’ interests and collaborate with other LGBT+ organisations and support groups.

Chimi Shakohoxha, Head of Housing & Regeneration at Capsticks, commented: “We are proud to be working on a landmark project for London’s LGBT+ community – hopefully one of many to come. This is an important step in creating a new kind of service offering in housing, tailored around the needs and interests of all residents and enriching their later life.”

Anna Kear, CEO at Tonic Housing, said: “We were delighted to work in partnership with the Capsticks team to complete the deal for our first shared ownership properties, the starting point for further Tonic mixed-tenure schemes. Our work enables us to offer the first LGBT+ affirming retirement community homes in the UK to those who will benefit from this and be part of building this community.”

Capsticks’ 100 strong specialist housing team advises more than 220 registered providers across the country, offering a full service solution to housing providers on all kinds of funding arrangements, acquisitions, regeneration, governance and security charging, always with a focus on clear and practical advice to clients.