Ashmole residents to receive £50m investment as a result of transfer

Posted by MHP on March 23, 2010 | No Comments |  Print this article |  Send to a friend

On Monday 22 March residents of the South London Ashmole estate became residents of Metropolitan Housing Trust London (MHT London). As a result of the transfer the estate will receive £50.3m worth of investment over 30 years and residents will see a reduction in their weekly rent.

Residents voted in favour of transfer in a secret ballot held in July 2009. The Ashmole Residents’ Steering Group (ARSG) worked with MHT London and Lambeth Council during the stock transfer ballot process. Ted Moore, Ashmole resident and former Chair of the ARSG says: ‘’After much hard work, we are delighted that transfer day has finally arrived. The residents of Ashmole can now look forward to getting the improvements to their homes and estate that they want and need.’’

The estate is made up of 700 properties and MHT London has already set up a dedicated team for the estate along with a residents’ group.  Works to the estate will include the refurbishment of kitchens and bathrooms, the installation of double glazed windows and energy efficient heating systems, and new or repaired roofs. MHT London will also be investing £750,000 over 10 years on community initiatives, in areas such as financial inclusion; employment, education and training; active living and sports; and support for older people.

Sue York, Assistant Director of Regeneration at MHT London says: “We are delighted that the transfer has taken place. We have a good working partnership with Lambeth Council and the transfer builds on this relationship. We worked hard to create an offer that residents were happy with.

She added: “We’re looking forward to working with the residents of Ashmole and starting works to improve the estate”.