'˜Hazards' housing block sells for more than Â£2m as council outbid
A social housing block whose tenants were evicted after '˜hazards' were found within the property has sold for more than Â£2million at auction today (Thursday, September 14).
Worthing Borough Council is understood to have been outbid on Kingsway, in George V Avenue, which sold for more than double its guide price.
Marine ward councillor Paul Yallop, who previously criticised owner Hyde’s decision to sell up, tweeted: “Kingsway in George V Avenue just sold at auction for £2,420,000 – sadly 24 affordable units lost but at least WBC (Worthing Borough Council) tried for which I am grateful.”
The Herald highlighted the extent of protracted negotiations between the council and Hyde for urgent improvements to be made earlier this year. Click here for the full background.
A council spokesman said: “Worthing Borough Council is actively looking for more cost-effective means of providing emergency and temporary accommodation, which includes the purchasing of housing stock for some of the most vulnerable residents in our town.
“We, like the rest of the community, are facing challenges in being able to find affordable properties in a very competitive market. But the council will continue to look for opportunities to invest to ensure our residents have housing when they most need it.”