We understand that there are around 20,000 empty properties in London and an estimated 180,000 people on the housing waiting list. We also understand that London authorities typically are spending an estimated £500m to house people in hotels and B&Bs where social housing isn’t available.
Big question is why properties are left empty? Each empty property has its own story for being left empty, below is a list of the most common reasons we have found from our years of experience:
- Awaiting change of property ownership e.g. from late mother to inheriting son
- Owner of property has moved into residential care
- Lack of funds to refurbish property
- Owner of property moved abroad
Our objective is simple:
Resurrect empty properties for the use of social housing
As Cromwood Social we recognise that tackling empty properties and bringing them back into use requires a lot of funding, a lot of expertise and is time consuming. Therefore we have designed a scheme that will help both local authorities and owners of empty properties bring back into use empty properties for social housing.
Our recent £2.5m Empty Property Resurrection Fund launch was attended by council officers and managers from all over London as well as key councils outside of London. The launch was kindly hosted by our legal partners Mackrell Turner Garrett at their London offices opposite the Embankment.