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LEGAL ASPECTS OF DIVERSIFYING

LEGAL ASPECTS OF DIVERSIFYING. Louise Leaver, Finance Partner Nikki Lynds-Xavier, Housing Management Partner Winckworth Sherwood LLP. Introduction. What is PRS? Structure Funding Design requirements Tenancy agreements Management considerations . Structure - considerations.

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LEGAL ASPECTS OF DIVERSIFYING

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  1. LEGAL ASPECTS OF DIVERSIFYING Louise Leaver, Finance Partner Nikki Lynds-Xavier, Housing Management Partner Winckworth Sherwood LLP

  2. Introduction • What is PRS? • Structure • Funding • Design requirements • Tenancy agreements • Management considerations

  3. Structure - considerations • Read your loan agreements • Charity law restrictions • Charitable activity • Charitable investment • Regulatory restrictions/tax implications

  4. Structure – commercial subsidiary • Type of entity • Intra-group support • Lending • Investment • Consent of lenders

  5. Structure - alternatives • Joint ventures • Restrictions under existing loan documents • Exit strategies • Control • Sale and operating lease • Not a funding arrangement • Investor ends up with portfolio of assets

  6. Funding • Depends on structure • Can you use existing facilities? • purpose • security s172 • Development finance or institutional investment

  7. Branding • Loyalty • Flexibility • Benefits • Communal facilities

  8. Standards • Fixtures and Fittings • Quality • Wifi • Personalisation

  9. Tenancy Agreements • Length of fixed term • Compatibility with other tenancies and head lease • Flexibility • Housing benefit

  10. Service Agreements • Car parking • Bikes • Storage • Services • Laundry • Cleaning • Dog walking

  11. Management • Specialist managing agents • Separate management teams • Dual role management teams • Breaches • Enforcement

  12. Stratford Halo

  13. Thank You Louise Leaver Finance Partner lleaver@wslaw.co.uk 020 7593 5050 Nikki Lynds-Xavier Housing Management Partner nlx@wslaw.co.uk 020 7593 5003 Solicitors and Parliamentary Agents Minerva House 5 Montague Close London SE1 9BB DX 156810 London Bridge 6 T. 020 7593 5000 F. 020 7593 5099 www.wslaw.co.uk

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