Coronavirus advice for Public Sector

Development
As well as acting for numerous RSLs in the acquisition and development of sites for affordable housing, we have also acted in relation to more innovative ways of delivering affordable housing. We have acted for different consortia of RSLs in exploring lease-based development structures, including one which was a forerunner to the HARIS vehicle currently being promoted by the Scottish Federation of Housing Associations. 

We acted for Scottish Government in relation to the development of the legal documentation which underpins the National Housing Trust initiative and we  acted for Albyn Housing Society in finalising the first project signed under the NHT variant scheme for RSLs. Recently, we acted for QSH Property in acquiring its first site in Scotland on which it will deliver affordable housng without any public subsidy.

Constitutional partnerships
We have acted in relation to most of the constitutional partnerships which have been undertaken between Scottish RSLs in recent years, including ones where a Scottish RSL has joined a larger group headed by an English registered provider. Examples include acting for Wheatley Housing Group in connection with its partnerships with Cube and Loretto Housing Associations, West Lothian Housing Partnership and Dunedin Canmore Housing; and the partnerships involving West of Scotland HA and Gentoo Group; Irvine 

HA and Riverside Group; Caledonia HA and Cordale and Bellsmyre HAs; Tenants First Housing Co-operative and Sanctuary HA; Link Group and West Highland HA; and Moray and Aberdeenshire Housing Partnerships. Our work typically involved extensive legal due diligence on assets and liabilities; helping our clients navigate the legislative, regulatory and governance aspects required for the proposed group structures; drafting intra-group and service agreements and liaising with all the relevant bodies including the FCA, SHR and OSCR.

Housing stock transfers
On housing stock transfers, our team’s experience is unrivalled – our lawyers have acted in every completed Scottish transfer this millennium. Partner Derek Hogg was the lead external adviser to Glasgow City Council when the Council transferred its stock to Glasgow Housing Association (GHA) back in 2003 - at 80,000 homes the largest ever housing transfer in the UK - and more recently we acted for GHA in its programme of second stage transfers, completing 27 separate transfers in an 18-month period.

Funding
We advised Link Group Ltd on the first ever private placement by a Scottish RSL. The deal saw them secure £45m in long-term institutional financing to further their development ambitions. We also regularly act for RSL borrowers in connection with the negotiation of lending facilities, including preparing security documentation and advising on property-related issues.