Search

‘Most expensive’ council home to sell at auction

11:07 24 October 2013

The

The 'Take Courage' building in Borough Market. Picture: Southwark Council

Archant

The sale of two former council homes next week by the London Borough of Southwark is expected to draw in big bidders - and the cash will be plowed back into building new council properties.

The 200-year-old “Take Courage” building near Borough Market is set to sell for more than £2.3million at auction on Monday, according to Savills Auctions, which believes the property will be “the most expensive council home ever sold”.

Southwark Council took possession of the building on Park Street in the wake of the dissolution of the Greater London Council in 1986, and since has put it to use as part of his housing stock.

But now, high refurbishment costs and a need for council homes have promped the council to sell off the property - which is currently vacant - to help fund new developments.

Cllr Fiona Colley, cabinet member for regeneration, said: “The costs of repair and refurbishment, coupled with the sale price mean that selling this building was always the best option.

“The receipt will contribute to our new 11,000 council house building programme.”

The “Take Courage” advertising paint on the side of the building dates back from the 19th Century, when it was thought to house bosses of the Anchor Brewery.

Savills head of auctions Chris Coleman-Smith said, “We think this will be the most expensive council home ever sold, and we’re delighted that the proceeds of sale will contribute to creating more housing in the borough.”

The auction will be held at the Marriott Hotel, Grosvenor Square at 9am on Monday October 28.

Latest News Stories

19:00
Android tablet.

Android enthusiasts and professionals will be able to learn about the latest advances and listen to expert speakers at Europe’s largest developer conference next week.

18:00
St John Ambulance volunteers ready for Guy Fawkes

Hundreds of first-aid volunteers are getting ready for Guy Fawkes night in case of fireworks injury.

12:00
Keith serves up at Headway's kitchen in Shoreditch [photos: Helena Smith]

Keith Emmanuel has had to rebuilt his life after a devastating brain injury that has taken him 20 years—but now has been shortlisted for a national award.

Yesterday, 15:11
Man on CCTV police want to quiz after sex attack on Bethnal Green schoolgirl

A schoolgirl was sexually assaulted in her home in London’s East End by a bogus caller claiming to be a plumber.

Most read news

The family to which Ebola belongs could be as old as 23 million years.

The gaming industry’s answer to the Oscars has dished out its annual awards.

Potential female candidates are already being prepared for the upcoming diocese vacancies in Southwell, Nottingham, Gloucester and Oxford.

Watch the moment the Shadow Chancellor got interrupted by a daring arachnid.

Digital Edition

Image
Read the Docklands and East London Advertiser e-edition today E-edition