annington annual rep 2019-web - Page 4



Strategic report | Highlights
HIGHLIGHTS FINANCIAL YEAR 2019
On 7 March 2019, Annington announced that an agreement
had been reached between Annington and the MoD in
relation to the Service Family Accommodation Estate Site
Review process.
The carrying value of Group investment properties is
£7.7 BILLION
Rental income was
£196.8 MILLION
Largely driven by the revaluation, profit after taxation was
£457.1 MILLION
Under this agreement, the MoD has committed to release a
minimum of 3,500 properties over the next 7 years at a rate
of 500 properties per annum.
3,500
PROPERTIES
OVER 7 YEARS
£7.7BN
2019
£7.1BN
2018
£196.8M
2019
£193.1M
2018
£457.1M
2019
Another key element is the clarification of how the Site
Review process will operate, shortening the period
of negotiation to two years, through the use of 27
representative sites to settle the future adjustments
to market rent to be applied after the site review.
At 31 March 2019,
the Group’s investment properties comprised
40,383 COMPLETED UNITS
The Group sold
66 PROPERTIES
(£1,059.8M)
2018
The Group recognised sales income of
£15.1 MILLION
2 YEAR
NEGOTIATION
PERIOD WITH 27
REPRESENTATIVE
SITES
40,383
2019
4 | Annington Limited Annual Report & Accounts 2019
40,348
2018
66
2019
121
2018
£15.1M
2019
£34.9M
2018
Annington Limited Annual Report & Accounts 2019 | 5

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