An article in Housing Today, (28 November 2002) alleged that Annington Homes Limited had entered into negotiations with the Hastoe Housing Association for the sale of former Ministry of Defence homes at Carver Barracks in Saffron Walden but had pulled out of those negotiations when they were all but completed to sell the houses privately in order to make a substantial profit. We stated that the association had been "gazumped" by Annington.

We now accept that Annington, although it was prepared to put the offer to its Board, never gave any indication that it intended to sell the properties to the association.

Annington received an approach from the association and an offer which, although based on professional advice, was rejected by Annington on the basis that it was substantially below the market value for the properties in question, in what was a rising market at the time.

We accept that Annington acted properly in its dealings with Hastoe.

We apologise to Annington Homes for any contrary, wrong impression caused by our article.

Source

Housing Today