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Trowers & Hamlins celebrates Newham Council’s new cutting-edge rental scheme

Trowers & Hamlins celebrates Newham Council’s new cutting-edge rental scheme

Trowers & Hamlins congratulates Newham Council and its subsidiary Red Door Ventures Limited on the first of their new cutting-edge housing rental schemes at the Tanneries on the Leather Gardens estate in Stratford.

The launch of Red Door Ventures makes Newham Council the first local authority to deliver a large programme of private rented homes for residents.

Trowers & Hamlins has advised Newham Council since 2012 on the formation and funding of Red Door Ventures as an innovative vehicle to deliver up to 3,000 new homes in Newham. Public Sector Commercial, Banking and Finance and Corporate teams at the firm worked with the Council and Navigant Consulting to deliver a self-funding model which will enable the Council to expand the supply of market and affordable homes in East London.

Paul McDermott, partner at Trowers & Hamlins, commented: "We are delighted to have contributed to Newham's inventive recycling of public assets to boost the housing supply.  Other public authorities should consider this approach."

Trowers & Hamlins also recently advised Cherwell Council on the formation of a vehicle to deliver 2,000 new homes at their largely self-build scheme at Graven Hill in Bicester, Oxfordshire.