Crown Estate forge ahead with sale of homes
THE Crown Estate is pushing ahead with the sale of hundreds of Regent s Park homes despite furious opposition from residents and Camden councillors. The landlords are moving to the next stage of the sale process of the Cumberland Market estate as well as
THE Crown Estate is pushing ahead with the sale of hundreds of Regent's Park homes despite furious opposition from residents and Camden councillors.
The landlords are moving to the next stage of the sale process of the Cumberland Market estate as well as three other estates in south and east London but have pledged to see key worker housing for rent protected in the future.
Chairman of The Crown Estate Sir Stuart Hampson said: "The Board is very conscious that this is an issue which has great sensitivity for its residents and the stakeholders with whom we deal.
"The Crown Estate's approach to business is guided by our commitment to integrity and stewardship alongside a commercial approach to managing our property portfolio.
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"The Crown Estate Act places a clear requirement on us to enhance the value of the Estate and the income it generates for the Treasury.
"The Board agreed with stakeholders and residents that these estates provide valuable key worker rented accommodation.
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"However, it also noted that these estates remain only a small part of the Crown Estate's portfolio, that there are no plans to increase this provision, and that the Crown Estate is under no statutory duty to provide housing of this type.
"Taking all these factors into account, the Board believes that the estates would be more effectively run by an organisation whose core business is managing this type of housing subject to important conditions in respect of the continued provision of key worker rented housing in the future.
"We are satisfied that the proposed way forward will fully meet the concerns which have been so clearly expressed to us and allow these estates to continue to play a role in the provision of key worker accommodation in London."
The Board is now looking for a buyer for the homes.
Residents are deeply disappointed that the landlords are pressing ahead with the sale, despite 99.9 per cent opposing the sale during the consultation.
Steve Smith, chair of the Crown Residents' Association on Cumberland Market Estate said: "Many residents feel let down by the Crown's decision to abandon them after nearly a century of good housing management. Once we are informed about the proposed purchaser and what assurances are being offered, we will look carefully at the detail before deciding what to do next.