Law firm Clarke Willmott has played a crucial role in securing over £250 million for Silva Homes.
- Silva Homes aims to develop 1,100 new homes in the next five years, supported by this funding.
- The financial package includes a £150 million bank refinancing and a £100 million private placement.
- Clarke Willmott’s efforts included extensive due diligence and collaboration with multiple banks and investors.
- Silva Homes also benefited from £28.5 million under the Affordable Homes Guarantee Scheme.
Clarke Willmott, a renowned national law firm, has ensured a significant financial boost for Silva Homes, a social housing provider in south-east England, facilitating the security of over £250 million in funding. This substantial amount is geared towards supporting Silva Homes in its ambitious target of constructing 1,100 new homes over the coming five years.
Integral to this financial support is a meticulously structured package comprising a £150 million bank refinancing deal and a £100 million private placement. The law firm’s Cardiff office, with commercial property partner Vicky Kells and associate Charlotte Lord at the helm, played a pivotal role in overseeing these complex transactions.
In executing this financial strategy, Clarke Willmott undertook comprehensive due diligence of Silva’s property portfolio. The process involved intricate coordination with multiple banks and investors, demonstrating both detail-oriented management and a collaborative approach. The transactions were successfully concluded within the stringent deadlines set by Silva Homes, underscoring the law firm’s proficiency and efficiency.
In addition to these financial arrangements, Silva Homes secured an extra £28.5 million through the Government-backed Affordable Homes Guarantee Scheme, further bolstering its financial capacity to deliver affordable housing initiatives.
Reflecting on the law firm’s involvement, John Andrew, Executive Director of Finance and Procurement at Silva Homes, praised Clarke Willmott’s expertise, describing their legal services as ‘great’ and noting the team’s ‘high level of expertise and slick project management’. Such endorsements affirm the firm’s substantial contribution to the successful financial restructuring of Silva Homes.
This strategic financial security marks a significant step forward in Silva Homes’ plan to enhance social housing provisions.
