Fergus Wilson sells off his final 300 homes in £90 million deal

first_imgOutspoken landlord Fergus Wilson is to sell the remaining 300 homes within his former 1,000-unit portfolio for £90 million to a housing association in Kent.The 70-year-old landlord recently announced that he was to retire from the property sector and wanted to sell his remaining properties, which are in and around the towns of Maidstone and Ashford.Wilson, together with his partner Judith, has spent the past 27 years building up his empire.The couple have told a local newspaper that they were approached by 20 organisations and investors to buy the properties, but that they chose housing association Golding Homes because it has committed to keeping the current tenants.Very sorry“I shall be very sorry to see the houses go which my wife and I have built up over many years,” he said.“I am not restricting my options but make it clear that a purchaser such as Golding Homes will keep the properties available to rent indefinitely whereas if the portfolio were sold to overseas buyers who knows whether the portfolio would be split up and sold on and current tenants evicted.”The sale is the end game of a three-year plan by the Wilsons to sell their portfolio, which has been sold off in tranches, although this latest deal is believed to be the largest.The final sell-off follows a BBC Panorama documentary featuring Fergus Wilson, during which it was claimed that ‘thousands’ of tenants were facing potential eviction if the Wilsons sold up to a asset-stripping investor and the portfolio was sold off on the open market.Read all our stories about Fergus Wilson. Golding Homes fergus and judith wilson Fergus Wilson March 26, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Fergus Wilson sells off his final 300 homes in £90 million deal previous nextHousing MarketFergus Wilson sells off his final 300 homes in £90 million dealFinal sell-off means Wilson and his wife Judith have sold off properties worth in excess of £250 million since deciding to retire.Nigel Lewis26th March 201906,341 Viewslast_img read more

TAQA files decommissioning plans for two North Sea platform topsides

first_imgThe North Cormorant platform facilitates production from the North Cormorant and Cormorant East Fields. Oil and gas imported from Otter is separated out and processed via the North Cormorant process facilities. Tern platform topsides; Source: TAQA Tern is a fixed Installation serving as a manned drilling and production facility for the Tern field, which lies within the East Shetland Basin of the UKCS in licence block 210/25. Under these plans, topsides of both these platforms will be removed onshore for reuse, recycling or disposal. The oil is then routed to Cormorant Alpha for onward transmission through the Brent Oil Pipeline System to Sullom Voe. The execution window for the North Cormorant topside decommissioning is at the earliest possible date in 2024 through to project completion in 2028. Tern field North Cormorant platform; Source: TAQA Associated gas, and gas imported from Tern Alpha, is exported through the Western Leg and the Far north Liquids and Associated Gas System (FLAGS) Pipeline to the St. Fergus terminal. Separated gas is distributed between the Tern, Hudson, Kestrel, Falcon and Cladhan facilities as fuel gas and lift gas, with any excess being exported via subsea pipelines to Hudson, Kestrel, Falcon, Cladhan and Otter facilities. The large steel jacket / sub-structure of the North Cormorant platform will be subject to a separate decommissioning programme. The North Cormorant platform is located in Block 211/21a in the UK Northern North Sea. The field was discovered in May 1974 by Shell / Esso with the platform installed in 1981 and production starting in February 1982. The large steel jacket / sub-structure of the Tern will be subject to a separate decommissioning programme. The Tern platform is located in Block 210/25 in the UK Northern North Sea. The field was discovered in May 1975 by Shell / Esso with the facility installed in 1988 and production started in February 1989. The execution window for the Tern decommissioning programme is at the earliest possible date in 2024 through to project completion in 2027. A CoP application for Tern has been prepared and was submitted to the Oil & Gas Authority (OGA) in 4Q 2019. The CoP date for Tern is currently anticipated to be in 4Q 2023. TAQA Bratani has filed its decommissioning programs for the Tern and North Cormorant platform topsides, located in the UK North Sea, to the UK authorities. The North Cormorant is a fixed installation serving as manned drilling and production facility for the Cormorant North field, which lies within the East Shetland Basin of the UKCS in licence block 211/21a. A Cessation of Production application for North Cormorant is currently under preparation and will be submitted to the Oil & Gas Authority (OGA) in 3Q 2020. The CoP date is currently anticipated to be 4Q 2023. Oil from the Tern, Hudson (operated by Dana), Kestrel, Falcon and Cladhan fields is produced and exported from the Tern installation to North Cormorant through a 16-inch subsea pipeline, and then via the Brent Oil Pipeline System to Sullom Voe in the Shetland Islands. The installation is located in 167 metres water depth and consists of a four-legged, steel jacket substructure, anchored by piles to the seabed.last_img read more