Crown Estate sets affordable housing tests for London resi sale
Crown Estate chairman Sir Stuart Hampson has sought to reassure residents that it will safeguard affordable housing in four residential estates it is planning to sell in London.
Yesterday, the London Assembly questioned Hampson about the planned sale of Victoria Park Estate in East London, Cumberland Market in Camden, Millbank near Victoria and Lee Green in Lewisham.
London mayor Boris Johnson had written to him on 22 March saying the sales should not happen without the Crown Estate meeting certain conditions, such as consulting with tenants on the buyer keeping the same level of affordable housing and providing enough key worker accommodation.
Hampson yesterday confirmed that any buyer in the sale, which has provoked concerns from tenants about the provisision of key worker and affordable housing, must meet the following conditions:
- Any prospective purchaser to pass a rigorous quality test of their track record and suitability in managing housing of this type
- Provision of key worker rented housing on the estates in the future with a continuation of the current level of new letting to key workers
- Employers who currently refer prospective tenants should continue to be able to do this
Hampson said yesterday these conditions would not be dropped under any circumstances.
The new conditions could impact on the value of the sale and limit potential buyers.
On 22 March, the House of Commons Treasury Committee published a highly critical report on the management of The Crown Estate.
It said: “We are concerned about the Crown Estate Commissioner’s handling of the consultation exercise, including the apparent failure to consult local organisations with rights to nominate key workers, and recommend that they review their consultation processes.
“More generally, we also urge [them] to engage more fully with key public bodies in London about their future plans for their London portfolio.”
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