The sold portfolio of military homes marked the conclusion of a long-standing dispute between Annington and the Ministry of Defence, settling several ongoing legal proceedings.
The deal effectively ends Annington's legal battles with the MoD, allowing the government to reclaim homes and reduce long-term costs associated with military housing.
The transaction, valued at £5.99bn, reflects a significant increase from Terra Firma's acquisition cost, showing the property value's appreciation over time despite earlier criticisms.
Returning the homes to public ownership is expected to save the MoD £230m annually, while also addressing the critical state of accommodation for service families.
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