The landlord run by the billionaire Guy Hands’ private equity firm has issued the government a two-week ultimatum to drop legal action to take over 38,000 homes for military families and instead accept a one-off refurbishment payment of £105m.
The Ministry of Defence revealed last week it planned to bring the properties back under government control, 25 years after a privatisation deal that has been criticised by the National Audit Office, the government’s spending watchdog, as a waste of taxpayers’ money.
