The Crown Estate announced today that it is has chosen Peabody as the prospective purchaser of four estates known as Cumberland Market in Camden, Millbank in Westminster, Victoria Park in Hackney and Tower Hamlets, and Lee Green in Lewisham.
The Crown Estate will now begin a six-week consultation to hear views on Peabody’s plans for managing the estates and how current residents’ rights are to be protected, should The Crown Estate decide to proceed to a sale of the estates.
During the consultation, Peabody will be providing residents with information about our proposals, and senior members of staff will be available at drop-in sessions so that residents can hear first-hand our plans for the management of the estates.
We encourage all Crown Estate residents to take part in the consultation process. More information can be found on The Crown Estate’s dedicated consultation webpage.
Our commitments
Our proposals for the estates fulfil all the conditions imposed by The Crown Estate to directly respond to concerns voiced by residents and others during a consultation earlier in the year. If the sale goes ahead, we will:
- Continue The Crown Estate's current policy of letting nine out of every 10 new lettings to key workers.
- Retain residents' current security of tenure provisions and rental frameworks.
- Continue to manage the estates with the current housing team members, who will become Peabody employees.
- Retain Osborne as the estates' responsive repairs contractor, ensuring the good standard of repairs residents currently receive will continue in the future.
We will also offer residents access to our exciting and innovative community services, and opportunities for increased involvement in the management of their estates.
"Good news for residents and good news for London"
Stephen Howlett, Peabody Chief Executive, said, "I am delighted that Peabody has been selected and look forward to sharing with Crown Estate residents our vision for the future of these fantastic communities.
"We are absolutely committed to keeping these properties affordable; the current Crown Estate arrangements to house key workers will not change. That’s good news for residents and good news for London."
Read the press release issued by The Crown Estate here.
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