Belsize Park hostel for homeless people sold to developer for £42m
PUBLISHED: 15:48 11 November 2015 | UPDATED: 15:48 11 November 2015
Â© Nigel Sutton email firstname.lastname@example.org
A hostel for homeless people in Belsize Park has been bought by a developer for £42m.
It is expected that the 165-flat block in England’s Lane will be turned into luxury homes.
Camden Council has a lease on the hostel which is due to end in March 2024.
A spokesman told the Ham&High: “The hostel is used as temporary accommodation for homeless families and the change of ownership of the property will not impact on the residents.
“Compared to other authorities the number of households we have in temporary accommodation is low, 440 (last Monday) .
“It’s difficult to predict what the demand will be in 2024.
“When the time comes to decant the hostel we will provide all households with suitable alternative temporary accommodation.
“Due to the size of the hostel there will be a long lead-in to the decant and officers will meet with the individual residents to ensure the new accommodation meets their requirements.”
Hans-Peter Hesse, country manager for Akelius UK, said: “England’s Lane is the largest single property we have purchased in London. We plan to continue cherrypicking suitable properties in 2016.”