Genesis sell their 50% interest in ex Church Commissioners properties

Genesis Housing Group today sold their 50% holding in Grainger Geninvest to Grainger PLC.

This now means that the 1500 properties including the historic Octavia Hill Estate in Waterloo  , previously owned by the Church Commissioners now comes under 100% private ownership.

At the time of the sale by Church Commissioners in 2005 and 2006 , they assured tenants that the sale would be and we quote " We are currently in discussion with a number of RSL's (Registered Social Landlords ).It is now quite obvious that although they assured us that our rights would be protected, they did not do so.

Part of the statement issued to residents by Genesis states "it does make sense for Genesis to sell and reinvest the proceeds in other parts of its business, such as the provisions of more affordable homes.

Do not the residents of the ex Church Commissioners properties deserve affordable housing

Members of three of the Residents Association from Waterloo, Walworth and Vauxhall met with senior management of Pathmead (The Management company ) and have sought clarification on two points.

Whilst we would not want to be scare mongering or causing our residents any stress or anxiety, Grainger need to be assured that the Residents Association will be monitoring the situation of the effects on residents of these changes