Transcript Slide 1
Extra Care Housing For Sale Presentation by Lesley Johnson, Sales & Marketing Manager, Housing 21 Mixed Tenure in Extra Care Housing Why Mixed Tenure? • Recognising the need of home owners for Extra Care and Supported Housing • Allowing homeowners to retain home ownership in later life • To meet government objectives to create mixed communities • To make developments more financially viable • Housing 21 new developments to have a minimum of one third of units for sale Some Issues with Mixed Tenure • Decision whether to integrate or segregate (pepperpotting) • Getting the lease right • Service charges – transparency of accounting • Sinking fund collection models • Clear procedures for both resale and staircasing • Management fees Nomination Agreement • Should be in place at least 12 months prior to scheme completion • Differentiate between procedures for rent and for sale • Panel membership to be agreed early in process • Eligibility criteria to be agreed - very important to be clear on the minimum care or support requirement • Allocation panel to meet from at least 6 months prior to scheme completion Selling the properties • Marketing feasibility prepared 12 months before scheme completion • Make early decision on how to sell Direct by Housing Association Use Estate Agent Use of Land & New Homes company Show flat/on site sales office • Sell off plan • Sales office/show flat – how soon can it be available Sale Options • 50% shared ownership with rent payable on the 50% unpurchased proportion • 75% shared ownership with no rent payable on the unpurchased proportion • Outright sale • All properties sold on 125 year assignable lease Marketing Literature • Aim to have prepared 6 to 8 months prior to scheme completion (depending on number for sale) • Full accurate information on the scheme and facilities, including site and plot plans • Should be easy to read and understand • Full information on prices, service charges and sinking fund Reaching our target market • ‘For Sale’ boards up on site early • Open waiting lists and keep applicants informed of progress • Supplying details and liaising with Homebuy (Zone) agent • Where to advertise – work with L.A. who will have good leads, as well as using local and other appropriate press • Well publicised open days for potential purchasers • Open days for professionals which can help to reach people with care needs Mere View, Haughley • 32 1 and 2 bed apartments for sale • Sales office opened August 2006 • Building work completed on 20 November 2006 • To date 12 sales completed • Further 14 properties reserved • 6 apartments available for sale • Prices from £95,000 FMV Brunel Court, Portsmouth Applegarth Court, Bridlington