Martin leaves PRS giant Annington
Dominic Martin has left his role as head of PRS management at Annington after seven months.
The residential property arm of private equity group Terra Firma is one of the largest providers of private rented sector housing in the UK.
Annington has a portfolio of more than 40,000 homes, worth over £7bn, the bulk of which it acquired through a sale-and-leaseback arrangement with the Ministry of Defence.
Dominic Martin has left his role as head of PRS management at Annington after seven months.
[caption id="attachment_965670" align="alignright" width="200"] Dominic Martin[/caption]
The residential property arm of private equity group Terra Firma is one of the largest providers of private rented sector housing in the UK.
Annington has a portfolio of more than 40,000 homes, worth over £7bn, the bulk of which it acquired through a sale-and-leaseback arrangement with the Ministry of Defence.
In 2018, the developer started to buy stock as part of a new rental push, purchasing a portfolio of 207 homes from St Modwen in March, then a further 177 homes from Taylor Wimpey and Mill Group in May. Martin joined the company in June last year.
An Annington spokesperson said: “Dominic joined us to help launch the 200-apartment development at PinnPoint in Uxbridge, which has now happened and is letting well. We are grateful for his help in delivering this large flatted scheme and wish him well in his next project.
“The primary focus of our PRS strategy is single family homes, and our team are focused on attractive opportunities in this area.”
Martin has more than 15 years of experience in real estate, focusing initially on commercial and later the residential sector and PRS. He was previously operations director at Atlas Residential. Before that, he held roles at Westrock and Platform, and was on the government PRS task force. He is presently undertaking build-to-rent consultancy work.
Annington is currently prioritising rental homes over working on blocks of flats.
It is also locked in ongoing negotiations with the MoD over planned rental hikes on its portfolio of military homes.
In 1996, Annington picked up 57,434 homes from the MoD. The estate was initially bought by a Nomura-led consortium, but was then sold to private equity group Terra Firma in 2012. Under the initial agreement, rents on the estate were set at 58% below market value for the first 25 years, but they could increase substantially from 2021.
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