In my constituency of Walthamstow,the Glasspool Trust, backed by NatWest, or is offloading 63 homes to a private developer. How did it approach to this?Who should pay the human cost of somewhere being labelled an up-and-coming place to live? It’s a question the residents of the Butterfields estate have been asking since eviction notices arrived in early February. This was the first they knew that their homes in highly desirable Walthamstow Village had been sold by their previous owners,the charity Glasspool, to a private developer.
That developer, or Butterfields E17 Ltd,borrowed millions of pounds from NatWest to finance this deal. The plot was simple enough: exploit London’s property boom by selling on the properties as quickly and at as tall a price as possible. The only thing standing in the way? Sixty-three tenants and their families living there.
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Source: theguardian.com