Devonshires advise Dolphin Square Foundation on new RP

Devonshires is acting for Dolphin Square Foundation on its registration of a new registered provider with the Homes and Communities Agency. Dolphin Square is itself a registered charity and has recently acquired the New Era estate.

Its bid is currently at the second stage of consideration by the Homes and Communities Agency (HCA) having first been lodged last summer.

John Gooding, DSF’s chief executive reported to Inside Housing magazine, ‘We could see that are a more attractive development partner for major private sector developers’.

‘They also have access to funding and finance on terms that wouldn’t be available to us, and are exempt from the Community Infrastructure Levy .’

The charity made national headlines last month when it agreed to buy the New Era estates in Hoxton from a US investor which had planned to raise rents and evict the tenants.

The purchase followed a huge media campaign from the residents, supported by comedian and activist Russell Brand. Dolphin Square is currently agreeing a new affordable rent arrangement with the tenants.

The charitable trust is hoping to raise around £160m in additional finance to complete its development ambitions reported Inside Housing.

For more information, please contact Andrew Cowan.