Crown Estate sale of its London housing to Peabody Trust is completed
THE controversial Crown Estate rented properties �140 million sell-off across London has been completed, the State organisation announced today.
It has sold its Victoria Park housing portfolio in East London, along with Cumberland Market in Camden, Millbank near Victoria and Lee Green in Lewisham.
The estates have gone to Peabody Trust, subject to legally-bound conditions which include continued renting out to keyworkers at the same level—around nine out of 10 new lettings—and honouring existing tenants’ rights such as security, succession and how rents are set.
The sell-off led to families protesting last year when it was first announced, which led to a question raised in Parliament and a petition handed in at Buckingham Palace (pictured). It resulted in the guarantees before the sale could go ahead.