Decent Homes Costs Prompt Tower Block Sale

Southwark council is considering selling a tower block to a private developer because of a lack of funds to meet its decent homes requirements. The local authority estimated in April 2008 it needed a further £180 million to reach the standard across all its stock. It is currently reviewing that figure. Since 2001, no flats have been permanently let in the block it wants to sell, Maydew House, due to the extensive work needed. External surveyors have suggested it would cost £15 million to bring it up to standard and officers decided the investment was ‘very difficult to justify’. Read the full story on the Inside Housing website.