propertytalk Live! - London housing estates approved for sale
The Crown Estate is to proceed with a sale of the Cumberland Market, Millbank, Victoria Park and Lee Green housing estates to London housing specialists Peabody.
The sale, which is expected to complete in early spring, was approved by The Crown Estate Board after careful consideration of a number of factors including resident and stakeholder views expressed in the recent consultation, alongside its duties under the Crown Estate Act 1961.
Sir Stuart Hampson, chairman of The Crown Estate said: “This is an excellent outcome for all concerned. For existing residents whose position is secured and who will benefit from the services of one of the best and most prestigious UK housing providers; for anyone who cares about keyworker housing in London, where Peabody has an excellent track record of providing quality homes and cohesive communities; and also for The Crown Estate which will be better able to meet its duties under the Crown Estate Act in the future.”
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