Secure tenant or leaseholder and think this won’t affect you?
Read this open letter from Cressingham Gardens to their MP. It raises important points about affordability of a new build estate for current residents. These same issues apply in Central Hill.
Just one example:
The market value of the new properties will increase. Council rents are worked out using this as one part of the calculation, as does Council Tax – so you are likely to end up paying more rent and council tax in a new home in the estate. This is what has happened at Myatts Field, another ‘regenerated’ estate in Lambeth.
It is vital that residents are made aware of the real costs to them.