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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

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Who Are Iceni Homes?

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Presentation byPaul BonnettManaging DirectorIceni Homes LimitedFor In Small Supply - National Event for Smaller Housing Providers22nd May 2014

who are iceni homes
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
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
Iceni’s Programme/Turnover
  • Approx. 250 dwellings per annum
  • 33 Schemes on site (2014)
  • Turnover £23.5 million (2014)
key legal agreements
Key Legal Agreements
  • Joint Venture Agreement
  • Framework Development Agreement
  • Services Agreement
what individual partners do
What Individual Partners Do
  • Set their own development strategy
  • Receive HC and other grants
  • Purchase Land
  • Own and manage assets
what iceni does
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
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
Benefits – Expertise & Efficiency
  • Experience
  • Specialist Staff
  • Reduced Duplication
  • Economies of Scale
  • Resource allocation
  • Partner relationships
benefits financial
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 knowledge
  • Access to the fruits of the table not the crumbs
  • Stakeholder relationships
  • New partners
  • Future - Market sale, market rent
the story so far
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 far1
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 2008-11 and 2011-15 HCA Programmes
the future for iceni
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