Council Housing Company Threatened With Strike-Off Over Late Accounts

A council housing company has been threatened with dissolution for failing to file its accounts on time. Luton Borough Council’s company, Foxhall Homes, was hit with a ‘first Gazette’ notice by Companies House. It blamed the delay on the pandemic and said it failed to inform Companies House because of an “administrative error”. The company’s accounts for 2019/20 are now more than seven months overdue, with no financial results filed since October 2019. Read more on Inside Housing.

https://www.insidehousing.co.uk/news/news/council-housing-company-threatened-with-strike-off-over-late-accounts-71003

Equity Investor Launches £900m Social Housing Fund

A new equity funder set to pour £900m of global finance into social housing in the UK has completed its first deal – providing £8.5m of funding to build 80 new council homes. Cheyne Capital has launched a Social Property Investment Fund comprising cash from global pension funds and high net worth individuals. It announced its first deal, purchasing and developing a site to build 80 flats, which Luton Council will rent for 21 years, receiving full nomination rights. All of the homes will be for a ‘genuinely affordable rent’, agreed with Luton Council below Local Housing Allowance levels, and are built with no government grant. The deal marks one of the first direct major investments in the sector from a group of global equity investors. Read more on the Luton Council website.