New user? Register here:
Email Address:
Password:
Retype Password:
First Name:
Last Name:
Existing user? Login here:
 
 
News >

Rents stay low as Hill estates sold

THE Church Commissioners have agreed the £70-million sale of the freeholds of residential properties in the Octavia Hill Estates, they confirmed this week.

The 455 homes and 16 shops are in the Stoke Newington, Maida Vale, and Waterloo districts of London.

The Commissioners’ chief surveyor, Paul Clark, said on Monday: “We informed tenants of our proposals in February, and have now written to them again to let them know that a sale has been agreed. The sale does not affect the conditions of their tenancies.”

A Church House spokesman said on Monday that the terms on which tenants held their properties would remain, but that any policy on rental increases would rest with the new company. The properties have been taken over by the Genesis Housing Group, and will be managed by Pathmeads Housing Association, a registered social landlord.

The managing director of Pathmeads, Tom McGregor, said on Monday that his company had no intention of reviewing rent levels. It had become involved with tenants only in the past three months, and was committed to social housing. “That was one of the intentions of the Church Commissioners: to hand over to a housing association.”

Mr Clark said that the Commissioners had explained to the tenants why the sale was taking place. “Unlike the new owners, we are not a focused housing provider. We have a wider investment portfolio, and have a duty to deliver the best possible returns on our investments to help fund the work of the Church across the country.”
 
The properties account for about one third of the Octavia Hill Estates, which are mainly in central and south London.

 

 

Job of the week

Archdeacon

Europe

Diocese in Europe The Church of England Archdeacon of Germany & Northern Europe and Archdeacon of the East (with a diocesan brief for mission) This is a unique opportunity to contribute to th...  Read More

Signup for job alerts
Top feature

The advocacy and the ecstasy

The advocacy and the ecstasy

St Teresa, born in Avila 500 years ago this weekend, is often depicted in a religious fervour. But there was much more to her than that, writes Laurie Vere  Subscribe to read more

Question of the week
Can Christians be trendy?

To prevent multiple voting, we now ask readers to be logged in. This is free, quick and easy, honestly. Click here to login or register

Top comment

Lessons from history can teach us how to live

The long shadow of the past can not only illuminate the present but also point to a more hopeful future, writes David Monteith  Subscribe to read more

Mon 30 Mar 15 @ 16:34
C of E statement on allegations surrounding Enoch Powell and satanic cults https://t.co/6BEhcprRsu

Mon 30 Mar 15 @ 11:38
Bishops from 6 continents call for urgent action on 'climate crisis' - read declaration (PDF) http://t.co/Y2AvxqSbst http://t.co/2aaRqdNOc8