 | |
| Company type | Subsidiary |
|---|---|
| Industry | Real estate |
| Founded | 29 July 1996 |
| Headquarters | London, UK |
Key people |
|
| Parent | Terra Firma Capital Partners |
| Website | www |
| Footnotes /references [1] [2] | |
Annington Homes is a provider of privately rented homes in the United Kingdom, [3] specialising in converting former Ministry of Defence (MoD) housing for the general public since 1996. [4] Since 2012, the company has been a wholly owned subsidiary of Terra Firma Capital Partners. [3]
In 1996, the MoD sold all its housing for military personnel and their families, 57,400 properties, to Annington Homes for £1.67bn as part of a broader process of privatisation of state assets, making Annington the largest owner of residential property in England and Wales. [3] Annington Homes had been established earlier that year as a shell company by Nomura Holdings; Nomura's Guy Hands played a central role in the deal. [3] The MoD lacked funds to maintain the properties, and intended to rent the homes from Annington at a discounted rate, while allowing the company to sell homes the armed forces no longer required. [3]
In 2012 Nomura sold Annington Homes to Terra Firma for £3.2bn. The rent per house paid by the MoD nearly doubled between 1997 and 2016, and in 2016 the MoD paid dilapidations of £21,809 on average when returning homes to Annington. [3] As of 2017, around 20,000 of the 57,400 homes had been sold on. [3] Kevan Jones, who was Parliamentary Under-Secretary of State for Veterans under Gordon Brown, described the MoD's deal with Annington as "an incredibly bad deal for the taxpayer." [3] Alan West, Baron West of Spithead, the former First Sea Lord, said the armed forces had failed to understand the long-term consequences of the deal at the time it was made. [3]
In 2022, the MoD announced plans to use the Leasehold Reform Act 1967 to reverse the privatisation deal and return the properties to public ownership. [5] Terra Firma said it would challenge the decision in court. [5]
In December 2024, Annington agreed to sell 36,347 homes (the Married Quarters Estate) back to the MoD for £5.99 billion, ending the legal dispute. The deal ended a "huge annual rental bill", saving around £230m a year. [6]
The Citigroup Centre is a building complex in London. It houses Citigroup's EMEA headquarters and is located in Canary Wharf in the city's Docklands. The centre provides 170,000 square metres (1,800,000 sq ft) of floor space across two buildings - 33 Canada Square and 25 Canada Square, and houses the bulk of Citi's UK employee base. The buildings were separated in 2023, prior to a £100m renovation of 25 Canada square.
Guy Hands is an English financier and investor. He is most notable as the founder and former chairman of Terra Firma Capital Partners, one of the largest private equity firms in Europe. Hands also was chairman of the UK music company EMI.
QinetiQ is a multinational defence technology company headquartered in Farnborough, Hampshire. It operates primarily in the defence, security and critical national infrastructure markets and run testing and evaluation capabilities for air, land, sea and target systems.
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Terra Firma Capital Partners Ltd. (TFCP) is a UK-based private equity firm. Financier Guy Hands founded the firm in 2002 through the spin-off of Nomura Principal Finance Group. The firm, which traces its roots to the formation of its predecessor in 1994, has invested over €14 billion since inception.
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Tim John Robert Pryce is an English businessman and previous CEO of Terra Firma Capital Partners, a leading European private equity investment firm, and one of its founding members. Pryce is also on the board of the General Partners as well as part of Terra Firma's management committee. Pryce is reported to be the highest paid director at the firm.
Keepmoat Homes Ltd is a housebuilding company in the United Kingdom that provides private homes for sale. Its headquarters are in Doncaster.
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Vonovia is a European multinational real estate company based in Bochum, North Rhine-Westphalia. Its history goes back to Deutsche Annington, which merged with GAGFAH and was subsequently renamed Vonovia. The company currently owns around 565,000 apartments in Germany, Sweden, and Austria, establishing it a significant market player in these countries. Vonovia is a member of the DAX 40 and STOXX Europe 600 blue-chip indexes.
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Metropolitan Thames Valley, formed from the merge of Metropolitan Housing Trust and Thames Valley Housing Association in 2018, is a housing association (HA) in the United Kingdom with origins back to the 1950s. The Trust manages nearly 38,000 homes and is based in Southgate, London. Metropolitan is a member of the National Housing Federation and the G15 group comprising London’s largest housing associations.
Untypical is a British housebuilding company.
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