§ Mr. Geoffrey Finsbergasked the hon. Member for Kingswood (Mr. Walker), representing the Church Estates Commissioners, if he will now make a statement on the disposal of the Hampstead Estate by the Church Commission.
§ Mr. Terry WalkerI can confirm that the Church Commissioners have decided 659W to sell the Hampstead Estate as part of a selective policy of reducing their investment in residential property. Arising from this decision the Commissioners have recently agreed terms with representatives of the tenants for the sale of 57 houses and four blocks of flats to a company formed expressly by the tenants for the purpose.
The Commissioners wish to emphasise that, while economic factors have led to this reduction in their residential property portfolio, they nevertheless intend to retain for the foreseeable future a significant stake in this type of property, and will continue to provide some 6,000 homes in London at moderate rents as their contribution to London's housing problems.