Geldards advises The Barnet Group (TBG Open Door Limited) on £20m Property Portfolio Acquisition
Geldards has advised TBG Open Door Limited (part of The Barnet Group, a Local Authority Trading company wholly owned by the London Borough of Barnet) on the successful acquisition of a substantial property portfolio with a total value of £20 million, encompassing 73 properties.
TBG Open Door Limited was first established to meet the local housing requirements of Barnet Council, which are expected to grow significantly in the years to come. The transaction strengthens TBG’s property portfolio in the Borough and continues the long-term plan to acquire a significant number of further properties, to secure sustainable property assets that contribute to the organisation’s housing and community-focused objectives.
The deal was led by Jessie Blain (Partner, Real Estate), with support from Susanne Bradley (Partner and Head of Real Estate) who guided the structural elements of the deal and settled any key issues; along with other members of the firm’s real estate team including Safa Farahat (Paralegal, Commercial Property), Llinos Davies (Partner, Property Dispute Resolution), Sophie Lazenby (Solicitor, Commercial Property) and Catrin Green (Associate, Commercial Property).
The team provided full legal support throughout the acquisition process, including comprehensive due diligence, negotiation of contractual terms, and the completion of the transaction.
Transaction Overview:
- Client: The Barnet Group (TBG Open Door Limited)
- Advising Firm: Geldards LLP
- Lead Partner: Jessie Blain, Real Estate
- Portfolio Size: 73 properties
- Value: £20 million
The Barnet Group is a not-for-profit Local Authority Trading Company wholly owned by the London Borough of Barnet, delivering a range of public services with a commercial focus. The Group comprises several subsidiaries including Barnet Homes, which manages more than 13,000 council homes on behalf of the Council and leads homelessness prevention and housing allocation services; The group also includes Open door Homes, a Registered Provider; Bumblebee Property, an online estate agent and lettings service; Your Choice Barnet, delivering adult social care services; and TBG Flex, which supports workforce resourcing across the Group.
Jessie Blain, Partner in Geldards’ Real Estate team, commented:
“We are delighted to have supported TBG on this strategically significant acquisition. The scale and complexity of the portfolio required robust legal oversight and commercial insight, and it has been a privilege to continue to work with TBG on delivering this outcome efficiently. The acquisition aligns with TBG’s mission to secure high-quality assets that support its wider community and housing objectives and demonstrates continued support to the property market and housing in London.”
Shahid Navapurwala, The Barnet Group added:
“Jessie Blain played a vital role in handling this complex transaction, she displayed the utmost due diligence when executing the transfer for TBG Open Door Limited. A complex lease agreement, time taken to get the required indemnity policies, and the multiple moving parts that needed to come together simultaneously, were just a few of the additional pressures Geldards had to endure. We would not have been able to achieve what we did, without the team at Geldards, due to their flexible, pragmatic and customer-focused approach. The acquisition represents an important milestone in our ongoing property growth strategy. These properties will play a key role in providing homes for residents of Barnet and contribute to the sustainable delivery of services.”
About The Barnet Group
The Barnet Group is a not-for-profit Local Authority Trading Company wholly owned by the London Borough of Barnet. It delivers key housing, community, and support services through its subsidiaries, which include Barnet Homes, Open door Homes, Bumblebee Property, Your Choice Barnet, and TBG Flex. The Group combines public sector values with commercial acumen to manage housing stock, build and acquire affordable homes, operate private lettings services, and provide social care and workforce support solutions.