IntroductionToAnnington-2019-web - Page 13



Introduction to Annington 2019
Rowner, Hampshire
MARRIED QUARTERS ESTATE
UNIQUE HOUSING PORTFOLIO WITH ATTRACTIVE
GOVERNMENT-BACKED LEASES
Essential asset
for the MoD
200-year contract
with UK Government
• Provides the majority of
accommodation for service families
across England & Wales
• Strong, stable rental income from
long-term leases signed with the
UK Government in 1996 - 177
years unexpired
• Difficult to replicate due to cost and
proximity to core military bases
• MoD currently benefits from
a significant 58% discount to
market rent
• 38,726 units1 on 510 sites
Advantageous lease terms
• Triple net lease, in which
Annington has:
- No vacant property risk; MoD
pays rent on units irrespective
of occupancy
- No responsibility for management
and maintenance
- No refurbishment risk; MoD
must return assets in good
repair or pay compensation
for dilapidations
12
• Significant reversionary potential
when properties are released
1. MQE Retained Estate units as at March 2019
| Annington Limited Introduction to Annington 2019
| Annington Limited Introduction to Annington 2019
• Contractual Rent and Site review
processes capture market upside
and reduce downside risk
13

Paperturn



Powered by


Full screen Click to read
Paperturn flipbook system
Search
Overview
Download as PDF
Print
Shopping cart
Full screen
Exit full screen