Law firm Trowers & Hamlins has acted for registered social landlord ClwydAlyn Housing Limited on the transfer of Rosa Hovey Housing Trust's assets.
The deal will see ClwydAlyn take over all responsibilities, assets, and liabilities from Rosa Hovey Housing Trust, which was founded in the 1930’s to form a legacy for the Hovey family. The Trust's portfolio comprises 12 properties.
Formed in 1978, and now managing over 6,400 homes, ClwydAlyn is comprised of four legal entities, including a Housing Association, a commercial company, a new-build social housing program manager, and a housing finance company. The organisation provides a wide range of homes and services, including affordable family housing, supported living, shared ownership, and leasehold management. In addition to being a social housing provider, ClwydAlyn offers services to vulnerable people across North Wales, such as homeless shelters, domestic violence refuges, mental health support, and care homes for those in need.
The Trowers team was led by Real Estate Partner, Richard St John Williams, assisted by senior associate Katie Hardiman.
Commenting on the deal, Richard St John Williams said:
"It has been a pleasure working with ClwydAlyn. The Rosa Hovey Housing Trust was established around a hundred years ago to provide housing "for deserving cases" – with one of the trustees a granddaughter of the founder. It was imperative that this deal was concluded successfully and in the best interests of both parties, not least because of the natural concerns of the Rosa Hovey trustees to ensure that the long terms interests of the residents are secured. I am delighted that the deal has been agreed and that ClwydAlyn is now in a position to invest in their new properties and take the Rosa Hovey legacy on into the 21st Century.
"It was a pleasure working again with our long-standing client, ClwydAlyn, and we wish them all the best with their continued growth and expansion."
The deal represents another example of Trowers' specialism in dealing with matters of Charity law and the firm's proven ability to advise charities and Registered Social Landlords on their growth agendas.
