International law firm Trowers & Hamlins has recently advised ReSi Homes (a for profit registered provider within the Gresham House group) in relation to the purchase and forward funded development of 153 homes to be delivered primarily through modern methods of construction in Stanford- Le-Hope, Essex for £44 million.
All 153 homes are to be affordable housing (shared ownership), with modular homebuilder Ilke Homes delivering a turnkey product, in that they are responsible for identifying the site, securing planning permission and manufacturing/building the homes.
Trowers advised Gresham House on all aspects of the transaction, including the specific requirements of procurement via modular construction. The development is to include a dedicated managed open space for the enhancement and protection of the ecological biodiversity of the site with options to decrease the carbon footprint during the build and operational phase of the development.
The team was led by Neil Biswas with assistance from Zuhayr Merali and Rory Stracey advised on planning matters.
Neil commented:
"This project is one of the first forward funding schemes of modular homes in the affordable housing sector. It falls within the work that our ESG team undertake and recognises the important contribution that modular construction can make to the delivery of a sustainable development. We look forward to working with Gresham House again on future investment projects."
