Care home bought for £1 believed to have been sold for £12m to developer
- Credit: Nigel Sutton
A housing trust which provided homes for vulnerable residents has sold the historic care home it bought for £1 to developers for an estimated £12million.
Church Walk House, which housed 42 residents, has been sold by The Central and Cecil Housing Trust (CCHT) to developer Epsilon Real Estate.
Epsilon has shown off plans to residents to turn the building in Childs Hill into 38 apartments and six town houses.
Neighbouring All Saints Church ran a care home on the site for nearly 60 years before it said the costs became too high.
It was bought from the church’s charity by CCHT in 2011 for a nominal sum of £1.
You may also want to watch:
As part of the deal, CCHT pledged to use the property to “provide housing for people of limited means”.
However, in March 2013, having run the site as a care home for two years, it closed Church Walk House and put the property on the market, insisting Barnet Council has an “oversupply of care homes.”
- 1 Man left with £1,200 vet bill after puppy 'mauled' on Hampstead Heath
- 2 'Lobster-like creature' pulled from Hampstead Heath ladies' pond
- 3 Old Hampstead police station sold by Department for Education at £4m loss
- 4 Taste of Nawab: A community staple with Tripadvisor acclaim
- 5 Christmas at Kenwood: 'Winter wonderland' primed for Hampstead Heath
- 6 Outdoor dining and one-way traffic to stay in St John's Wood High Street
- 7 Skyscraper plans rejected by Westminster Council over damage to views
- 8 Crouch End entrepreneur supports Moroccan women with textile business
- 9 Man stabbed on Finchley Road
- 10 High Court date set for disabled swimmer's challenge over ponds charges
Two previous planning applications submitted by CCHT in 2013 saw a backlash from residents.