Social Housing's Professionals' League: Devonshires ranked No.1 for institutional investment deals

We are delighted to be the most instructed legal advisor for housing association borrowers and issuers, as reported by Social Housing's Professionals' League 2024.  

Considering the challenges posed by inflation, interest rate hikes, economic pressure and rent instability, alongside increasing ESG accountability and the business necessities brought to light following the tragedies of Grenfell and Awaab Ishak, it comes as no surprise that the overall number of funding deals in the sector during 2023-24 (excluding bank loans and deals through bond aggregators) has fallen.  

But we are pleased that the mood is tentatively optimistic for this year.  It is encouraging to hear the same view expressed by our clients and colleagues in other firms as well as our own quarters.  Our clients' hard work on stock condition and ESG data will undoubtedly bear fruit, with greater economic stability and the prospect of a 10 year rent settlement also contributing to investor confidence.

We are, of course, also pleased that the results show we advised on more deals than anyone else in the sector. Of the 39 deals in the past financial year, we were involved in 21, including 18 as sole advisor to the housing association participant. This can be attributed to our skilled and hard-working banking team which has a wealth of expertise and experience.

Thank you to Social Housing for this insight and for inviting us to contribute.