Capsticks has advised Tonic Housing on the deal.
Tonic Housing acquired 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 (Picture), Head of Housing & Regeneration at Capsticks, advised on the deal.
Involved fees earner: Chimi Shakohoxha – Capsticks LLP;
Law Firms: Capsticks LLP;
Clients: Tonic Housing;