Plans to purchase 368 properties previously leased by Westminster City Council for use as temporary accommodation (TA) are progressing. The council has completed due diligence checks and reached an agreement with housing association A2Dominion. The deal includes settling a rent dispute and waiving any grants or clawback conditions to finalise the purchase.
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The properties, which range from one to six-bedroom flats and houses, are located throughout the borough and across Central and North London. A majority of the homes are two-bedroom units. The total cost of the purchase is yet to be confirmed, though the council intends to fund the acquisition through a Credit Tenant Lease. This agreement will allow the council to pay for the properties over 42 years from its General Fund.
Additionally, the council plans to invest approximately £33.5 million in refurbishment work. This will improve the properties’ Energy Performance Certificates (EPCs) to a minimum of grade C. The work will affect around 39% of the homes, with each property estimated to require £91,000 worth of upgrades.
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The move comes as Westminster City Council faces increased demand for temporary accommodation. Over the past three years, the number of households approaching the council for housing has risen by more than 30%, largely due to high rent levels in the area, limited social housing, and a rise in homelessness linked to the ongoing cost-of-living crisis.
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