Billionaire Guy Hands’ property firm sells military homes to MoD for £6bn
Terra Firma’s sale of 36,000 properties ends legal fight with government over recent housing reformsBusiness live – latest updatesA property company linked to Guy Hands has agreed to sell 36,000 military homes to the UK’s Ministry of Defence for almost £6bn, signalling an end to a long-running battle between the billionaire and the government.Annington will hand over its 999-year lease on the 36,347 homes, known as the Married Quarters Estate, to the MoD and receive £5.99bn in return – almost twice as much as Hands’ private equity company Terra Firma paid for Annington more than a decade ago, but less than the £8bn the homes were valued at last year. Continue reading...
admin
0
0
Terra Firma’s sale of 36,000 properties ends legal fight with government over recent housing reforms
A property company linked to Guy Hands has agreed to sell 36,000 military homes to the UK’s Ministry of Defence for almost £6bn, signalling an end to a long-running battle between the billionaire and the government.
Annington will hand over its 999-year lease on the 36,347 homes, known as the Married Quarters Estate, to the MoD and receive £5.99bn in return – almost twice as much as Hands’ private equity company Terra Firma paid for Annington more than a decade ago, but less than the £8bn the homes were valued at last year. Continue reading...
