FFT Housing Consultancy Team Supports Settle Group to Secure Affordable Housing Portfolio

The Project

Settle retained FFT to carry out a strategic review of growth opportunities within a defined geography. As part of this commission FFT identified a number of leads and supported settle to secure a mixed tenure social portfolio of 138 homes through private treaty.

Our Role

FFT were appointed on the wider commission in August 2020 and instructed to approach L&Q in November 2020. This stage of the commission included bid support and consultancy services, as well as a stock condition survey once the initial offer was accepted. FFT then provided a bespoke cradle to grave project management service from bid acceptance to completion, including leading commercial negotiations and procuring operational and compliance information, and ensuring the transfer occurred on time and to expectations.

The Challenges

Maintaining a structured approach and driving the process in an off market transaction presented some challenges, as well as portfolio nuances around lease terms, 3^rd part consents and evidencing compliance requirements. In addition our client was relatively new to tenanted stock acquisitions and the seller was establishing internal processes and structures to support tenanted stock disposals.

The Solution

FFT was able to provide guidance and support to the client based on previous experience and share best practice in relation to tenanted stock transfers. As the seller was unrepresented FFT had to work to identify solutions to commercial, legal and operational issues that worked for both parties.

For more information on Stock Rationalisation Services or advice on buying, selling, or identifying opportunities, contact Stuart May, Head of Housing Consultancy – E: [email protected] T: 07815960390