International law firm Trowers & Hamlins has advised Legal & General Affordable Homes on a landmark acquisition of 487 homes from Birmingham City Council in Perry Barr.
The Trowers team was led by Jeremy Hunt and Hannah Jackson who advised L&G on all parts of the multi-faceted acquisition.
The acquisition, which has been funded by Legal & General Institutional Retirement, forms part of LGAH’s commitment to offering affordable housing options across the UK. There are 187 homes for affordable rent, 159 for shared ownership and 139 for social rent.
The scheme forms part of an ambitious regeneration plan to create a new neighbourhood with more than 5,000 new homes and supporting infrastructure, including commercial space.
Ben Denton, chief executive at Legal & General Affordable Homes, said:
“Our vision is to provide everyone with an affordable, high-quality and environmentally sustainable place to live and grow. Our acquisition of the Perry Barr homes shows our commitment to delivering on this and investing in high-quality stock, improving our asset portfolio and achieving improved returns.”
“Perry Barr is an exciting opportunity to help create a thriving new neighbourhood that contributes positively towards the local area and supports the council with tackling its housing challenges.”
