- Landmark deal for more than 36,000 houses formally completed.
- Significant housing redevelopment and improvements now possible.
- £600,000 of taxpayers’ money already being saved each day.
Taxpayers and military families in Portsmouth will benefit from a deal to bring more than 36,000 military houses back into public ownership nationwide, which has now been formally completed.
Completion of this deal between the Ministry of Defence (MoD) and Annington sees taxpayers regaining ownership of 36,347 houses, 650 of which being in the Portsmouth area.
This has ended the £600,000 daily rental bill – totalling more than £230 million a year – and makes major housing redevelopment and improvements possible.
The estate is now valued at £10.1 billion when not subject to leases and is being purchased for just under £6 billion – providing excellent value for money to the taxpayer and representing one of the largest value commercial housing deals in UK history.
This agreement frees up the government’s ability to build on the Service Family Accommodation estate with more modern houses.
National security is foundational to the Government’s Plan for Change. This deal will help to deliver on the Government’s milestones on kickstarting economic growth and boosting housebuilding across the country, and on our commitment to renew the nation’s contract with those who serve.
Commenting, Portsmouth South MP Stephen Morgan said:
“We have opened up a once in a generation chance to improve homes for our armed forces and their families in Portsmouth, who sacrifice so much to keep us safe.
“This deal is already saving the taxpayer £600,000 a day – and will put us back in the driving seat as we renew and rebuild family accommodation.
“This Government is unrelenting in our commitment to renew the nation’s contract with those who serve”
Work on the new military housing strategy has begun, with plans for its publication later this year. Key principles of the strategy will include: a generational renewal of Armed Forces accommodation; new opportunities for forces homeownership; and better use of MOD land to support the delivery of affordable homes for families across Britain.
Since coming to office in July, the Labour government has
- Awarded service men and women here in our city the largest pay rise for 20 years.
- Announced a bill to establish an Armed Forces Commissioner, to be a strong independent champion for our serving personnel and the families who support them, and to improve service life.
- Delivered homes for heroes by giving better access to social housing and scrapping rules that unfairly penalise veterans.
- Put forward a plan to fast-track bright candidates and cut the needless red tape and delays which are turning great talent away from our forces.
- Committed to putting the Armed Forces Covenant fully into law ensuring everyone who serves or has served in the Armed Forces, and their families, are treated with fairness and respect.
