Trowers & Hamlins has advised Portsmouth City Council on the acquisition of 740 social housing homes from Clarion Housing Group. The deal is believed to be the largest tenanted social housing transfer of its kind.
The homes were sold to the council as part of the organisation's long-term asset strategy and significantly strengthens the council’s position as the largest registered social provider in Portsmouth and Havant.
The homes are predominantly situated in Portsmouth, with some located outside of the city in areas such as Gosport, Fareham and Winchester. They comprise a number of shared ownership houses, the first such properties the council has undertaken. As part of the deal, one more batch of homes located in Portsmouth will be completed during the summer, meaning 818 homes will have been acquired in total.
The deal was first announced in November 2023 after the council went through a competitive tender process, which included talking to current Clarion residents and resulted in the council being selected as Clarion’s preferred bidder. The deal was also subject to approval from Full Council as well as Clarion’s board.
The Trowers team was led by Partner, Louise Robinson, working alongside Projects and Construction associate Stanley Kamalu, Real Estate Managing Associate Tom Wainwright who advised on contracts, and Real Estate Senior Associates Anna Streeter and Sarah Cross who advised on titles and due diligence.
Commenting on the deal, Louise Robinson said:
"It was a pleasure to advise Portsmouth City Council on this highly significant deal, which is believed to be the largest transfer of social housing to a council of its kind. It's a great deal for the tenants who will benefit from enhanced security of tenure.
"It was a pleasure to assist the Council on their first large scale acquisition of this nature and we look forward to working with them again in the future."
