Metropolitan Thames Valley Housing Association
FFT Delivers the First Pilot Disposal for MTVH’s Stock Rationalisation Programme
MTVH, working with FFT, have identified a geographically diverse portfolio for a multi-year stock rationalisation programme. Within this portfolio a number of locations were identified with time-constraints, including a social housing portfolio of 116 homes within the City of Lincoln which were managed by another Registered Provider who were looking to hand back the management of the properties. MTVH had no local management presence and were therefore keen to motivated to transfer the properties to a locally based provider before the expiry of the management agreement.
FFT were appointed by MTVH as stock rationalisation consultants and project managers to provide a comprehensive cradle to grave service including pre-marketing due diligence, marketing, compiling and releasing a Sales Prospectus, evaluating competitive tenders and managing transactions through to completion. FFT were also appointed to deliver a stock condition survey on which the purchaser could rely.
The key challenge was timescales dictated by the situation set out above. In addition marketing properties being managed by others created some issues with collating pre-marketing information and data transfer.
FFT identified the above risks early and these were monitored and managed throughout the project. FFT ensured the parties interests were aligned by placing the resident experience to the fore and thereby spreading the reputational risk. FFT managed a tight marketing programme and the preferred bidder was on board from selection onwards. Ongo were selected as the purchaser who were both very locally based and agile in their approach to onboarding the portfolio. The client team worked extremely hard to manage data importing and exporting, including extra quality controls and a strong collaborative approach was fostered between MTVH and Ongo.
For more information on Stock Rationalisation Services or advice on buying, selling, or identifying opportunities, contact Stuart May, Head of Housing Consultancy – E: [email protected] T: 07815960390