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Trowers & Hamlins advises on ground-breaking stock transfer

Trowers & Hamlins advises on ground-breaking stock transfer

City law firm Trowers & Hamlins LLP has advised on the large scale voluntary transfer of Bolton Council's housing stock of approximately 18,000 properties. The Council has transferred its housing stock to its ALMO, Bolton at Home, which was re-formed as a Registered Provider. The council side was led by the in- house team with support from Cobbetts.

City law firm Trowers & Hamlins LLP has advised on the large scale voluntary transfer of Bolton Council's housing stock of approximately 18,000 properties. The Council has transferred its housing stock to its ALMO, Bolton at Home, which was re-formed as a Registered Provider. The council side was led by the in- house team with support from Cobbetts.

Trowers & Hamlins have now advised on all the completed ALMO transfer proposals, the others being those in Warrington, Oldham and Stockton.

Trowers & Hamlins advised on:

  • The legal structure and transfer agreement,
  • The structure of and governance arrangements for the new Registered Provider, Bolton at Home,
  • Property aspects,
  • The loan documentation which related to the funding (£45,000,000) which was provided by RBS Bank,
  • Tax advice (including advice on VAT grouping), as well as
  • Pensions and employment law.

Ian Doolittle, lead partner from Trowers & Hamlins said: “The transfer represents a key stage in the excellent partnership between Bolton Council and Bolton at Home working together to meet local housing priorities.”

The team was led by Ian Doolittle (client partner), with principal support from Natasha Berbeneva (transfer contract). Specialist assistance was provided by Mike Gaskell (governance), Neil Waller (funding), Helen Cookson (employment) and Nathan Williams (tax).