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 East London News Stories

41 minutes ago
Mayor John Biggs (centre) and the Special Education Needs volunteers at their graduation

More volunteers have graduated after training as advisors and independent supporters for families in London’s East End who are looking for help for their children with special education needs.

07:00
Trinity Green almshouses at Mile End Gate

The first historic buildings in east London to be saved for posterity are facing their worst threat in 120 years from being cast in shadow by plans to build a 28-storey tower block just yards away.

Yesterday, 18:37
Ihsan Bashir releases dove of peace in memory of his brother Inam Bashir who was killed in IRA Canary Wharf bombing in 1996

White doves of peace were released in the bright sunshine today as survivors turned up to remember the 1996 IRA bombing that killed two men, injured 50 people and devastated a community in London’s East End.

A memorial service was staged at South Quay close to where the Semtex device packed into a lorry parked next to Inam Bashire’s news kiosk exploded, wrecking the Midland Bank office block opposite.

Yesterday, 12:28
Luke and Skywalker are recovering well after being found with severe injuries in Victoria Park. Picture: Celia Hammond Animal Trust

Two adorable young cats found horrifically injured and dumped in an east London park have sparked an outpouring of generosity from animal lovers.

Yesterday, 10:18
Tower Hamlets Mayor John Biggs

More “social rent” homes for those on the long housing waiting list in London’s deprived East End are being built in the next two years with profits made from the local authority selling off properties under the government’s ‘Right to Buy’ scheme.

Yesterday, 07:00
Morpeth pupils 'lined up' against the Berlin Wall

Sixth form history students have returned to London’s East End from to Berlin where they have been studying the 20th century’s Cold War and the Rise and fall of the Third Reich.

Yesterday, 00:46
Jonathan Ganesh in Downing Street for IRA bomb victims

A memorial service is being held at Canary Wharf today for the 20th anniversary of the devastating IRA terrorist bombing in which two men were killed and 50 people injured.

Mon, 13:40
Whitechapel Mission lands £25,000 windfall for its meals service from Pranic Foundation

Two charities in Whitechapel feeding London’s homeless and giving them shelter have received cash from a foundation that preaches “self-healing” processes that repair the mind and body.

Most read news

HOT JOBS

Show Job Lists

Competitions

Sony Smart Ultra HD 55'' LED TV

Enjoy the ultimate entertainment experience in your living room with the Sony Smart Ultra 55’’ LED TV. Be the envy of all your friends with this huge TV- you can change your living room into your own cinema! Get the boys around to watch the football or get the girls around to watch the DVD of 50 Shades.. this is a prize that everyone would enjoy! Stand a chance to upgrade your current entertainment system by wining this fantastic prize.

Surface Pro 4

Technology is ever evolving. We are constantly being shown new technology that is innovative, revolutionary and designed to make life easier for us all. Gone are the days of dial up modems and computers so large you needed half a room to store it. We are in the age of smooth, small and sleek. Companies are all trying their best to create technology that is easy to transport and guaranteed to be user friendly.

Digital Edition

cover

Enjoy the
Docklands and East London Advertiser
e-edition today

Subscribe