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The Guardian - UK
The Guardian - UK
National
Daniel Boffey Chief reporter

Firm backed by billionaire withdraws £105m offer to repair military homes it owns

Guy Hands Terra Firma Annington
Guy Hands
Annington Homes is owned by Guy Hands’ private equity company Terra Firma. Photograph: Bloomberg/Getty Images

A property company owned by Guy Hands’s private equity firm Terra Firma has withdrawn a £105m offer to repair the “appalling” military homes that it owns and is leasing back to the Ministry of Defence.

The proposal by Annington Homes, which owns about 38,000 service properties, had been contingent on the MoD dropping its attempt to forcibly buy-back the estate sold to the firm in 1996.

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