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Trowers & Hamlins advises Enfield Council on innovative house-buying project

Trowers & Hamlins advises Enfield Council on innovative house-buying project

Trowers & Hamlins is delighted to have advised Enfield Council on establishing a company to buy homes.  Through the company, the Council will be able to buy much needed homes which will be held by its wholly-owned company.

Because of the way the company is structured, there is greater flexibility than with the Council in terms of rent levels and tenure, and tenants will be ineligible to buy the properties under the 'Right to Buy' scheme, ensuring properties remain available in the long term for letting.  The Council has also set targets for the number of units it wants to acquire each month. 

Scott Dorling, real estate partner at Trowers & Hamlins who advised Enfield Council, commented:  "We are seeing more and more local authorities considering company models that enable them to facilitate new-build or to acquire existing stock.  Enfield has tackled their housing shortage head on by opting to undertake this innovative and pioneering project."

Enfield Council's approach to housing has been featured recently in The Guardian.  To read the article, click here.