# Annington Homes

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{{use British English|date=July 2020}}
{{use dmy dates|date=March 2025}}
{{Infobox company
| name = Annington Limited
| logo = Annington Homes.png
| type = [Subsidiary](/source/Subsidiary)
| industry = [Real estate](/source/Real_estate)
| fate = 
| predecessor = <!-- or: | predecessors = -->
| successor = <!-- or: | successors = -->
| founded = {{Start date and age|1996|07|29|df=y}}
| founder = <!-- or: | founders = -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| hq_location = London, UK
| hq_location_country = 
| area_served = <!-- or: | areas_served = -->
| key_people = {{ubl|Ian Rylatt<br/>([Chief executive officer](/source/Chief_executive_officer))|Stephen Leung<br/>([Chief financial officer](/source/Chief_financial_officer))}}
| products = 
| owner = <!-- or: | owners = -->
| num_employees = 
| num_employees_year = <!-- Year of num_employees data (if known) -->
| parent = [Terra Firma Capital Partners](/source/Terra_Firma_Capital_Partners)
| website = {{URL| https://www.annington.co.uk/}}
| footnotes = <ref>{{cite web|url= https://www.annington.co.uk/about-us-1/director-profiles|title=Directors Profile|accessdate=14 July 2020}}</ref><ref>{{cite web|url= https://beta.companieshouse.gov.uk/company/08271384|title=Companies House Company Profile|accessdate=14 July 2020}}</ref>
}}

'''Annington Homes''' is a provider of privately rented homes in the United Kingdom,<ref name=guardian>{{cite web|url=https://www.theguardian.com/news/2017/apr/25/mod-privatise-military-housing-disaster-guy-hands|title=How the MoD’s plan to privatise military housing ended in disaster|work=The Guardian|date=25 April 2017|accessdate=2 December 2018|first=Holly|last=Watt}}</ref> specialising in converting former [Ministry of Defence](/source/Ministry_of_Defence_(United_Kingdom)) (MoD) housing for the general public since 1996.<ref>{{cite web|url=http://news.bbc.co.uk/1/hi/uk/7280153.stm|title=Empty MoD homes 'cost millions'|publisher=BBC|date=6 March 2008|accessdate=2 December 2018}}</ref> Since 2012, the company has been a wholly owned subsidiary of [Terra Firma Capital Partners](/source/Terra_Firma_Capital_Partners).<ref name=guardian/>

==History==
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.<ref name=guardian/> Annington Homes had been established earlier that year as a [shell company](/source/shell_company) by [Nomura Holdings](/source/Nomura_Holdings); Nomura's [Guy Hands](/source/Guy_Hands) played a central role in the deal.<ref name=guardian/> The MoD lacked funds to maintain the properties, and intended to [rent the homes](/source/leaseback) from Annington at a discounted rate, while allowing the company to sell homes the armed forces no longer required.<ref name=guardian/>

In 2012 [Nomura](/source/Nomura_Holdings) sold Annington Homes to [Terra Firma](/source/Terra_Firma_Capital_Partners) for £3.2bn. The rent per house paid by the MoD nearly doubled between 1997 and 2016, and in 2016 the MoD paid [dilapidations](/source/dilapidations) of £21,809 on average when returning homes to Annington.<ref name=guardian/> As of 2017, around 20,000 of the 57,400 homes had been sold on.<ref name=guardian/> [Kevan Jones](/source/Kevan_Jones), who was [Parliamentary Under-Secretary of State for Veterans](/source/Parliamentary_Under-Secretary_of_State_for_Veterans) under [Gordon Brown](/source/Gordon_Brown), described the MoD's deal with Annington as "an incredibly bad deal for the taxpayer."<ref name=guardian/> [Alan West, Baron West of Spithead](/source/Alan_West%2C_Baron_West_of_Spithead), the former [First Sea Lord](/source/First_Sea_Lord), said the armed forces had failed to understand the long-term consequences of the deal at the time it was made.<ref name=guardian/>

In 2022, the MoD announced plans to use the [Leasehold Reform Act 1967](/source/Leasehold_Reform_Act_1967) to reverse the privatisation deal and return the properties to public ownership.<ref name=kollewe>{{cite web|url=https://www.theguardian.com/politics/2022/jan/27/guy-hands-terra-firma-annington-homes-mod-ministry-defence|title=MoD seeks to buy back 38,000 homes leased from firm run by billionaire|date=27 January 2022|access-date=2 April 2022|work=The Guardian|first=Julia|last=Kollewe}}</ref> Terra Firma said it would challenge the decision in court.<ref name=kollewe/>

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.<ref>{{cite news |last1=Kollewe |first1=Julia |title=Billionaire Guy Hands' property firm sells military homes to MoD for £6bn |url=https://www.theguardian.com/media/2024/dec/17/guy-hands-property-military-homes-mod-terra-firma |access-date=17 December 2024 |work=The Guardian |date=17 December 2024}}</ref>

==References==
{{reflist}}

==External links==
* [http://www.annington.co.uk/ Annington Homes]
* [https://web.archive.org/web/20110928045321/http://www.terrafirma.com/annington-homes.html Terra Firma company entry]

Category:Real estate companies established in 1996
Category:Housing in the United Kingdom

{{UK-company-stub}}

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Adapted from the Wikipedia article [Annington Homes](https://en.wikipedia.org/wiki/Annington_Homes) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Annington_Homes?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.