A local authority is selling off the land under sheltered
housing in the city as part of a £40 million asset sale aimed at bolstering its
budget. The sell-off from Newcastle council includes the ‘reversionary interests’
of three sheltered housing schemes. Purchasers of such interests take over the
freehold of land when existing leases expire. Mark Lloyd, head of strategic
property at Newcastle, said current leaseholders were getting first dibs on the
sheltered housing asset sales. ‘We always approach the leaseholder to see if
they want to buy’. Read more on Inside
Housing.
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