Crown Estate defends sale of flats

Published: 10 June, 2010
by DAN CARRIER

THE chairman of the Crown Estate has publicly defended the decision to sell off over 500 flats for key workers and the low paid in Camden.

Sir Stuart Hampson, who heads the board that made the controversial decision to find buyers for the Cumberland Market estate in Regent’s Park last month, has refused requests for interviews but was called to speak about the sale by the Greater London Assembly on Tuesday.

Sir Stuart told the committee the Crown was committed to making sure the current arrangements for tenants would be honoured by any new owner. 

He added that the decision to sell the homes was a “business decision” taken because rents did not give high enough returns and they had no legal requirement to provide social housing in London. 

He said the Crown did have to ensure they maximised all its returns to the Treasury.

Cumberland Market Residents Association chairman Steve smith said lawyers had been consulted after Sir Stuart had given evidence to the GLA’s planning and housing committee.

“The claims made that the estate would only be sold if certain conditions were met by the new buyers is a grey area,” he said. “There is nothing legally binding about it.” 

Sir Stuart called it a “good outcome for all’ and added in a statement:  “We ran a consultation that told us clearly what residents and stakeholders felt about a proposed sale. 

“We believe the proposed way forward responds to the consultation by ensuring they continue to make an important contribution to providing key worker housing.

“With the new conditions we have imposed, a sale would result in security for current tenants and a permanent commitment for the future. At the same time, it would allow The Crown Estate to fulfil its statutory duties.”

Committee chairwoman Nicky Gavron (Labour) said: “We will be holding them  to their promises that if they cannot find a suitable buyer the sale will not go ahead.  And if the sale does fall through we will press them to take the estate off the market and continue to manage the properties as sub-market affordable housing in perpetuity.”