IntroductionToAnnington-2019-web - Page 31



Introduction to Annington 2019
PRS STRATEGY IN ACTION
MQE HANDBACKS
Oak Portfolio
Bordon
Canterbury
Key elements
Key elements
Key elements
Key elements
# units
207
# units
104
# units
200
# units
34
£ investment
£78m
£ investment
£24m
£ investment
-
£ investment
-
Completion
2019
Completion
May 2018
Completion
Phased 2019/20
Completion
Phased 2019/20
Status
Status
Status
Status
• New build, forward funding opportunity
• Portfolio acquisition of standing stock in Gloucester,
Bristol and Hedge End
• 200 family homes at Bordon
• 34 family homes at Canterbury
• All units to be reinstated
• All units to be reinstated
• Mixed sale and rental strategy envisaged
• Units will be handed over to London Borough
of Redbridge under their existing bulk lease
• Rapid take-up in lettings
• Product very well received by tenants
| Annington Limited Introduction to Annington 2019
MQE HANDBACKS
PinnPoint, Uxbridge
• All 207 units in 3 blocks handed over
30
PORTFOLIO ACQUISITION
Jupiter Heights, Uxbridge
• Fully let / reserved (103 let and 1 reserved)
• 4.9% rental uplift between annualised appraisal ERV
and current rents.
| Annington Limited Introduction to Annington 2019
DEVELOPMENT FORWARD FUNDING
31

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