NAO says Poor forces housing for decades


Official National Audit Office Paper has today been released which makes for v v depressing reading. Nothing we didn't know already but puts a shot across the bows of HMG and their £5Bn spend remarks not so long ago. Yet again, now proved to be nothing more than hiding behind impressive numbers that don't add up.

I wonder what they will come out with next? :plotting:

BBC Web page here
Annington became the largest private owner of residential property in the United Kingdom following the purchase of more than 57,600 homes from the Ministry of Defence in 1996. These are now gradually being sold.
Former Quarter.

North Yorkshire, Catterick

Available Now!

Starting price £139,950

How much profit have these lot made?

How much could have been spent on upgrading the properties of serving soldiers instead of the cream of the crop being sold to civvies?
I remember when all of this started in the late 1980's. A VERY des res went a Maj Gen for circa £100K. It was a fcukin mansion near Hereford. Some beautiful quarters in Essex were flogged off as well - they are now woth a fortune (>£300K).

A disgrace, with the Treasury and Broon flogging off the family silver!
I wonder how much (cough cough) the ministers involved got for their part in the sale? A directorship perhaps? Money for party coffers perhaps?

Would be interesting to find out.
Although I am a Tory, I fear that the sell off of accomodation to Annington was an absolute disgrace, for which they should hang their heads in shame. NWST that, the chronic under-investment by this Government is a massive false economy, I think that they are preparing a problem for Governments for decades to come. I lived in a total of 14 quarters during my career and the standard varied from excellent to shocking. It should also be noted that the all the quarters that were poor were in the UK. I am glad that I am out now, and living in Aldershot, I can still see the difference between the good and the bad that SFA has to offer.
Annington is the largest private residential landowner in the UK with gross assets of almost £6.4 billion

Says it all really... meanwhile on the streets of London.. veterans sleep in doorways.


War Hero
Let me take you by the hand I'll lead you through the streets of London..lah de dee oobee do la la la make you change your mind
From hansard:

Bob Russell: To ask the Secretary of State for Defence what percentage of the proceeds of subsequent sales by Annington Homes of former Ministry of Defence housing is returned to HM Treasury under profit-sharing arrangements.

Derek Twigg: Under the terms of the 1996 profit share agreement with Annington Homes Limited,25 per cent. of sale proceeds is currently returned to Her Majesty's Treasury.

The November 1996 sale agreement with Annington Homes Ltd includes a profit share agreement, 25 per cent. of sale proceeds are currently returned to HM Treasury.

So where has the money gone then Broon? You've been Chancellor since 97?
The average cost for each MQ sold was £34 - £36k. AHL began making a profit within 5 years which I suspect was a few years ahead of the targets.

Not long after the sale, DHE was formed, some say to continue to reduce the housing stock. At that time there was plenty of funding, in fact from 1997 to 2006 we probably saw a 40% reduction in funding for works.

Latest Threads