The pioneering Parry Court housing development, funded by £8.6 million in Government Libor fines, will provide housing for veterans as they embark on a new future outside of the military.

At a ceremony in Morden, South London, the Ministry of Defence’s Chief of Defence People Lt Gen Richard Nugee handed over the keys of the first completed property to Private Jordan Colllins, who received his new home in time for Christmas.

Minister for Defence, People and Veterans Tobias Ellwood said:

The Parry Court opening exemplifies our commitment to the wellbeing of our veterans. This new development will be an important stepping stone for veterans, providing affordability and stability as they start their new life in the Capital.

The housing development is a collaboration between the MOD and the Haig Housing Trust, and will provide eight one bedroom houses at a much cheaper rental rate than the private sector.

The Parry Court development will help individuals or couples start a new life in London who could otherwise not afford the high cost of the commercial market.

Rents at these properties will be set at less than 60% of the normal open market price in the area. This will offer affordability and stability for the individuals as they establish themselves firmly in a new job. The properties will be leased on a six monthly basis, extending up to two years.

The funding for this project was provided through the Libor fines scheme set up by the Government in 2012. Over £200 million has been channelled directly to military related good causes, with a further £200 million given to the Armed Forces Covenant Fund.

At this year’s Budget in November, the Government announced a further £36 million of Libor fines to support Armed Forces and emergency service charities.

The Defence Secretary and Foreign Secretary met their Japanese counterparts at Greenwich Naval College, a building that symbolises the historic maritime links between the two countries, to strengthen security and defence cooperation.

During the meeting, the Defence Secretary Gavin Williamson confirmed that HMS Sutherland will visit Japan next year. HMS Argyll will also be sent to the country to take part in exercises next year, as announced by the Prime Minister Theresa May in August 2017.

Defence Secretary Gavin Williamson said:

Japan is one of our closest partners in the Asia Pacific region and as tension grows on the Korean peninsula, our relationship is vitally important.

2018 will mark the year UK and Japanese forces work even more closely together, with two of our Royal Navy frigates visiting the country and UK troops training on Japanese soil for the very first time.

Both countries agreed a 3-year defence cooperation plan, which will deliver on the commitment made by Prime Minister Theresa May and Prime Minister Shinzo Abe in August 2017 to work closer together on defence issues. It demonstrates the UK’s dedication to working with Japan as a long term security partner, including activity across air, land and sea in the Asia Pacific region. Alongside the Naval deployments the UK will:

• Send around 45 British Army personnel to train with Japanese soldiers next year, marking the first time ever that UK personnel have exercised on Japanese soil and the first occasion that non-US troops have exercised in the country.

• Continue to work closely with the Japanese Self-Defense Air Force, with plans for future joint-working after the successful deployment of RAF Typhoons to Japan last year.

Mr Williamson also confirmed that the UK will send a Royal Navy captain and five medics to the US-led Pacific Partnership deployment which will provide humanitarian and disaster relief training to military and civilian organisations.

Following the meeting, Defence Minister Harriett Baldwin will also take Japanese Defence Minister Itsunori Onodera to Portsmouth Naval Base for the first time on Friday, to embark on a tour of the world-class aircraft carrier HMS Queen Elizabeth, which was formally commissioned into the Royal Navy just last week.