Veterans housing provider confirms sale of flagship site to Chelsea FC ownership group

The leading provider of supported housing for veterans has agreed to sell the majority of its flagship site in Fulham to the ownership group of Chelsea Football Club.

The Board of Trustees for Stoll said it had agreed a deal in principle to sell the majority of its Sir Oswald Stoll Mansions to the ownership group of the football club.

Air Vice-Marshal (retired), Chair of Trustees, Ray Lock said the Chelsea FC ownership group "offered the strongest bid" financially, for the support of residents and for the support of the charity in the future.

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Stoll did say that it had previously consulted with residents in 2022, which it recognised only addressed a part sale, but would now undertake a new resident consultation on 19 July for nine weeks.

The proposed plans would, however, see Stoll retain 20 flats on the Fulham site and the charity would find new properties for veterans - who it said would "benefit from improved facilities and broader services and enhance its community outreach programmes".

Air Vice-Marshal (retired, Chair of Trustees, Ray Lock said many of the properties on the site "were built over a century ago and will require major upgrades to meet future regulations".

"Without this investment from the proposed sale it would not be feasible to provide the quality of accommodation and services we need to offer long term to veterans across the UK. 

"Refurbishing the site to ensure that it meets necessary Government housing standards and that the properties serve as energy efficient, modern and comfortable homes for our residents would cost a minimum of £10 million.

"These are funds which the charity simply does not currently have. 

"Even beyond this cost, new facilities and further investment would be needed to meet statutory housing requirements; the reality is the site at Fulham is unsustainable for the long term."

The Board of Trustees for Stoll will consider all responses to consultation before making its final decision in Autumn 2023.