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Veterans housing provider confirms sale of site to Chelsea FC after resident consultation
A register provider of supported housing for veterans has agreed to sell the majority of its flagship site in Fulham to Chelsea FC, after a successful resident consultation.
Stoll revealed in July that it had reached a deal in principle with the club’s ownership group over the Sir Oswald Stoll Mansions site, under which the landlord will retain 20 flats in the property as part of the plans.
Following a consultation with residents last year, Stoll gave organisations the opportunity to express an interest in the site.
The landlord received 13 bids that were reviewed over a period of six months to ensure the best possible outcome for residents.
However, as the first resident consultation it carried out in 2022 addressed only a part-site sale, the landlord has completed a second, nine-week consultation with residents.
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Stoll said the responses from residents had been taken into account by the board, along with other considerations, before it made its final decision.
Part of those considerations included refurbishing the site or rebuilding part of it, but the landlord has concluded that any refurbishment would require funds that it does not currently have, and would also require current residents to leave their homes.
The landlord explained that the sale, for an undisclosed fee, will allow it to establish new properties which would provide higher-quality, more sustainable housing, while also securing the long-term financial sustainability of the organisation.
The resident consultation report also highlighted the need to enhance resident support services throughout this process, and to organise additional one-on-one and group meetings for residents with Stoll staff and the trustee board to ensure residents remain informed as the sale process proceeds.
Will Campbell-Wroe, chief executive of Stoll, said: “The veterans are the heart of this organisation and we continue, as we have always done, to act in the best interests of the charity and its beneficiaries.
“The Chelsea FC ownership group’s offer enables us to limit uncertainty for residents and offer support over a longer period of time. The site at Fulham is just not fit for purpose for the long term, and while this is a difficult time for our residents, it is something we must do to enable us to support veterans now and in the future.
“We are enhancing our robust support programme for our residents during this process and our commitment to them will continue to be at the forefront of all we do at Stoll.”
Under the deal, residents will not have to leave their homes straight away, as the offer includes a leaseback period, meaning that the land would be temporarily given back to Stoll after completion of the sale. This will allow the landlord to support residents to move to alternative, suitable accommodation.
The deal is expected to be completed in early 2024. Chelsea FC declined to comment at this time.
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