Paradigm Housing Group
FFT Housing Consultancy Team Supports Paradigm to Secure Shared Ownership Portfolio
Registered social housing provider Heyford Regeneration brought a portfolio of 68 tenanted shared ownership units to the market in June 2019 for sale by competitive tender. The properties formed part of the Heyford Park Masterplan, a regeneration scheme in Oxfordshire. They had been completed on behalf of a for-profit registered provider, set up for the purpose by the developer which was seeking to crystallise its position.
FFT was appointed in July 2018 to provide bid support and consultancy services to Paradigm Housing Group. On the back of the advice provided, Paradigm submitted a bid to secure the portfolio of 68 shared ownership units from Heyford Regeneration, and was subsequently selected as the preferred bidder.
FFT then provided a cradle-to-grave project management service, from bid acceptance through to completion. This included leading commercial negotiations, and ensuring a full suite of operational and compliance documentation. Making certain that the transfer occurred on time and met expectations was also one of our core responsibilities.
The market at the time was in the process of opening up to for-profit organisations and institutional investors who were working with registered providers exclusively for shared ownership retained equity portfolios. This meant competition was high, so it was vital to carefully consider what would prove to be a competitive bid range. In addition, as the client was new to the stock rationalisation market, our input had to be very hands-on.
FFT put together a comprehensive bid strategy report and implemented its Stock Rationalisation Acquisition Toolkit. This secured the successful transfer of the 68 properties by the required deadline of November 2019.
For more information on our stock rationalisation services, or advice on buying, selling, or identifying opportunities, contact Stuart May, Head of Housing Consultancy – E: [email protected] T: 07815 960390.