New Era Estate Could Be Sold In Affordable Housing Deal

BethPH
By BethPH Last edited 38 months ago
New Era Estate Could Be Sold In Affordable Housing Deal

new eraResidents of the New Era estate in Hoxton could have a victory on their hands after the Guardian reported the estate may be sold to an affordable housing provider.

US asset management firm Westbrook Partners bought the estate in March 2014, but faced fierce opposition after revoking an agreement not to increase rents to market rates and evict families who couldn't pay.

The highly public campaign against rent increases, supported by London Mayor Boris Johnson and comedian Russell Brand, has become symbolic of the iniquitous nature of the capital's housing situation and now appears to have forced Westbrook to back down.

Hackney council wrote to Westbrook to warn the company to treat residents with 'respect and consideration' when it became clear that the company hadn't appeared to have given much thought to the residents or local issues with housing. The residents' campaign led to a march to Downing Street armed with a petition holding more than 300,000 names.

City Hall has said it expects the sale to be complete before Christmas. The Guardian's report suggests future rent increases could be on the cards but the new owner has offered guarantees over rents until the end of 2015. Labour London Assembly member Tom Copley questioned Boris Johnson in Mayor's Question Time this week over the fate of the estate. Boris Johnson has said:

“We are very sure that there is a favourable and a fair outcome for the tenants who, I agree, had the shock of seeing their rents potentially go up, and what I want to achieve is the sale of that estate to a social landlord.”

Photo by Chris Dorley-Brown in the Londonist Flickr pool.

Last Updated 19 December 2014

Bill Ellson

The entire 'New Era' story is bizarre. A vast number of allegations and assertions, but no evidence. Where is the 'agreement' that the owners supposedly revoked? Where is the evidence that tenants faced rent increases?

If anybody can link to any genuine documents that support the stories that have appeared in recent months regarding the New Era estate then I should be grateful.

DC

Why do the residents of New Era deserve to live in a desirable area more cheaply than the rest of us? What makes them special?

Eddie M

Hang on a minute, I'm not sure Dolphin Square is in a fact a social landlord, and they have previous connections to Westbrook. I think the tenants need to get legal agrements about future rents. "Pocket Homes" a development by Dolphin Sqaure have rents of at least "Affordable Rent" level, which is quite high.

Eddie M

Dophin Square do "intermediate rents" requiring £55 000 minimum income. Your fight is not over. See here:
http://www.homeownershipwestmi...

Moriety

About time.
Council rent in Lambeth is edging towards double the cost of private renting in Margate, unfortunately bonkers economic policy ensures that nobody in Margate will ever be able to get a normal job in London due to bonkers railway fares.

Economic free movement isn't possible any longer.
At times I despair of the BASIC stupidity level of our governments, of what ever colour.