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Holloway prison to be turned into affordable housing

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Holloway prison to be turned into affordable housing

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Holloway prison has been sold to a housing association and is expected to provide 1,000 homes, the majority of which will be affordable, it has been announced.

The women’s prison in north London, which once housed Myra Hindley and closed in 2016, was sold to the housing association Peabody for £81.5m on Friday.

Peabody said that at least 60% of the 1,000 homes will be “genuinely affordable”.

Of these, 70% will be social rent, which are pegged to local incomes to keep them affordable. The rest will either be for sale through shared ownership or London Living Rent – a scheme offering three-year tenancies to middle-income earners who are given the option to buy the property.

 

What's the betting in a year they slip through a 'oops we need to add more private because the prices have gone down'.

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Reminds me of the "Not the Nine O'Clock News" spoof news headline where, under the Thatcher government, prisoners were going to be given the opportunity to "buy their own cells".

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26 minutes ago, Pindar said:

Reminds me of the "Not the Nine O'Clock News" spoof news headline where, under the Thatcher government, prisoners were going to be given the opportunity to "buy their own cells".

You laugh, but wasn't that sort-of how debtor's prisons worked? I'm mainly going on vague memories of "Little Dorrit", so I may be talking shite...

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affordable (aka social or even worse, subsidised shared/part ownership) housing in one of the most expensive parts of the capital city...what a PR focussed stunt.

 

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If they have paid £81.5m and want to build a 1000 houses, even before work starts that £81,500 per house, demolition and site prep works, then utilities, roads, recreational area, lighting etc all going to add to the cost of of the houses before the actual cost of building the houses... 

I wonder how affordable the affordable houses will be 

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On 08/03/2019 at 18:07, PeanutButter said:

Of these, 70% will be social rent, which are pegged to local incomes to keep them affordable. The rest will either be for sale through shared ownership or London Living Rent – a scheme offering three-year tenancies to middle-income earners who are given the option to buy the property.

Yes I see no problem with any of these schemes. 

8 hours ago, the_dork said:

affordable (aka social or even worse, subsidised shared/part ownership) housing in one of the most expensive parts of the capital city...what a PR focussed stunt.

yes rental properties in an expensive part of London - what a terrible plan.  

7 hours ago, winkie said:

What the 'affordable' homes people will feel like prisoners living in?;)

Absolutely incredible - there are so many posts moaning about the lack of property built for rent.  When Peabody decide to build homes for rent people still moan.  Some people just like to complain about everything.  

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1 hour ago, happyguy said:

Yes I see no problem with any of these schemes. 

yes rental properties in an expensive part of London - what a terrible plan.  

Absolutely incredible - there are so many posts moaning about the lack of property built for rent.  When Peabody decide to build homes for rent people still moan.  Some people just like to complain about everything.  

End slavery.. only the slavers promote rental over ownership.. 

Roads are made, streets are made, services are improved,electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains — all the while the landlord sits still. Every one of those improvements is affected by the labor and cost of other people and the taxpayers. To not one of these improvements does the land monopolist contribute, and yet, by every one of them the value of his land is enhanced. He renders no service to the community, he contributes nothing to the general welfare, he contributes nothing to the process from which his own enrichment is derived…The unearned increment on the land is reaped by the land monopolist in exact proportion, not to the service, but to the disservice done.

— Winston Churchill, 1909

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6 hours ago, Monkey said:

If they have paid £81.5m and want to build a 1000 houses, even before work starts that £81,500 per house, demolition and site prep works, then utilities, roads, recreational area, lighting etc all going to add to the cost of of the houses before the actual cost of building the houses... 

I wonder how affordable the affordable houses will be 

Here, I just typed £480,000 into my computer. You can pay me back over 50 years. Affordable enough?

 

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Obviously, they'll have to subdivide the cells to keep the rents affordable.

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Edited by zugzwang

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15 hours ago, happyguy said:

 

yes rental properties in an expensive part of London - what a terrible plan.  

 

My problem is how will these be allocated? Why would anyone want a 'non-affordable' home, either to rent or buy when there is affordable available? It basically creates an arbitrary 2-tier system where a lucky few (whether deservedly or not, separate issue and irrelevant to my main point) get a benefit that others never will.

I have nothing against rental properties per se. We need a certain amount of rental stock especially in London and other bigger cities with dynamic economies and high population churns.I'd marginally favour being a tenant of a staffed, taxed and regulated company/charity/housing assoc than Bobdownthepub plc. It's the trumping of this scheme as being part of the wider solution that bothers me.

 

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  • 292 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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