Paul Bonnett Iceni Homes Limited In Small Supply - National Event for Smaller Housing Providers 22 nd May 2014 Presentation by Paul Bonnett Managing Director Iceni Homes Limited For In Small Supply - National Event for Smaller Housing Providers 22 nd May 2014
Who Are Iceni Homes? Joint Venture Company Limited by shares Iceni’s Share Holders: Colne Housing Hundred Houses Society Suffolk Housing Society All partners have equal shares Non charitable Governance
Where Are Iceni Based/ Operational Areas Based in Bury St Edmunds with presence in Cambridge and Colchester Operates across Norfolk, Suffolk, North Essex and Cambridgeshire
Iceni’s Programme/Turnover Approx. 250 dwellings per annum 33 Schemes on site (2014) Turnover £23.5 million (2014)
Key Legal Agreements Joint Venture Agreement Framework Development Agreement Services Agreement
What Individual Partners Do Set their own development strategy Receive HC and other grants Purchase Land Own and manage assets
What Iceni Does Iceni manages and clients Development Programmes Iceni meets the objectives, priorities and targets as set out in their Development Strategies Agree with HAs which schemes/sites to pursue/acquire Appraises, Procures, Manages Bids on partners’ behalf for grant HCA Audits on behalf of RPs Technical Design Brief/Development Operational Guidelines (D.O.G.)
Iceni’s Fee Structure Based on scheme size and type Fees are inclusive of expenses They cover abortive work when schemes do not proceed They cover the costs of Iceni undertaking other activities on behalf of the HA members e.g. attending Local Authority HA Forums etc. Payment Arrangements Iceni basically acts as the HA’s Development Team
Benefits – Expertise & Efficiency Experience Specialist Staff Reduced Duplication Economies of Scale Resource allocation Partner relationships
Benefits – Financial Tax savings e.g. VAT savings on consultant’s fees All profits returned to partner associations as Gift Aid Access to grant through partnership Mutual Status
Benefits – Market Relationships and local knowledgeRelationships and local knowledge Access to the fruits of the table not the crumbsAccess to the fruits of the table not the crumbs Stakeholder relationshipsStakeholder relationships New partnersNew partners Future - Market sale, market rentFuture - Market sale, market rent
The story so far… 2000 homes completed Mix of general needs, supported and specialist housing, rural, s106, shared ownership, shared equity and temporary housing (Empty Homes Initiative) HCA programme – grant accessed and programme delivered
The story so far…. Gift Aid - £1 million returned to sponsoring associations since 2005 Estimate for 2014 £250k VAT total savings of circa £100K for sponsoring associations each year Mutual Status – Now agreed by HMRC Delivery of and HCA Programmes
The Future for Iceni Bids to HCA for AHP 2015 – 2018 Market Sale/Market Rent for our HA partners - New LLP New Iceni Members? Very positive future for Iceni - Strong pipeline of schemes - HA partners funding - Approx. £250k per annum average profit for the next 5 years