Oval Mansions sale boosts Lambeth housing

Lambeth

Date: 25.04.2003
Ref: 1568
Press contact: Isolda McNeill
Tel: 020 7926 2841
Email: imcneill@lambeth.gov.uk

Press Release

Oval Mansions sale boosts Lambeth housing

Lambeth council has sold Oval Mansions, eight apartment blocks at Kennington, for £5.1 million. All the money acquired by the auction of these empty flats will be channelled into regenerating council homes.

"This is excellent news for the council. The proceeds from this sale bring to almost £13 millions the funds raised over the past from sales of empty properties which can now be re-invested in refurbishing and improving council homes", said Councillor Jeremy Clyne, Lambeth deputy executive member for housing.

"Changes introduced by the new administration mean that a hundred per cent of the proceeds from sales of empty properties in disrepair which the council cannot afford to bring back into use can now be retained and spent on desperately needed investment in the rest of our housing stock."

Oval Mansions is around 100 years old and comprises 47 residential units and five former commercial units. The buildings are in very poor condition, having been empty and bricked up ever since Lambeth council won an epic court battle and reclaimed the mansions from squatters who had been in illegal occupation for many years.

The blocks were sold with vacant possession and all receipts from the disposal will go into the housing department 's budget for housing improvement and regeneration. The buildings have never previously been used for social housing.

Issued by the Communication Centre
London Borough of Lambeth
Lambeth Town Hall
Brixton Hill
London SW2 1RW

Telephone 020 7926 1000
Fax 020 7926 2835
www.lambeth.gov.uk

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